Tetra Tech Inc Q1 Profit Decreases, but beats estimates

(RTTNews) - Tetra Tech Inc (TTEK) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $74.97 million, or $1.40 per share. This compares with $116.71 million, or $2.18 per share, in last year's first quarter.

Excluding items, Tetra Tech Inc reported adjusted earnings of $1.40 per share for the period.

Analysts on average had expected the company to earn $1.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 27.6% to $0.89 billion from $1.23 billion last year.

Tetra Tech Inc earnings at a glance (GAAP) :

-Earnings (Q1): $74.97 Mln. vs. $116.71 Mln. last year. -EPS (Q1): $1.40 vs. $2.18 last year. -Analyst Estimates: $1.34 -Revenue (Q1): $0.89 Bln vs. $1.23 Bln last year.

-Guidance: Next quarter EPS guidance: $1.25 - $1.35 Next quarter revenue guidance: $0.99 - $1.04 Bln Full year EPS guidance: $5.90 - $6.20 Full year revenue guidance: $4.15 - $4.30 Bln