Tetra Tech Posts Loss In Q3 - Quick Facts

(RTTNews) - Tetra Tech, Inc. (TTEK) reported a third-quarter net loss to company of $78.39 million or $1.21 per share, compared to profit of $29.05 million or $0.45 per share, last year. The goodwill impairment charge was $48.1 million net of tax, or $0.74 per share for the quarter. Excluding the goodwill impairment charge, loss per share for the quarter was $0.47.

On average, ten analysts polled by Thomson Reuters expected the company to post a loss of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue decreased to $614.84 million, from $684.70 million last year. Revenue, net of subcontractor costs, was $475.1 million compared to $516.9 million in the third quarter last year. Analysts expected revenue of $473.21 million for the quarter.

Tetra Tech expects its fourth-quarter EPS to be in the range of $0.30 to $0.40. Revenue, net of subcontractor costs, for the fourth quarter is expected to range from $500 million to $540 million. Analysts expect the company to report fourth-quarter profit per share of $0.44 on revenue of $561.82 million.

For fiscal 2013, Tetra Tech now expects EPS to be $0.62 to $0.72, excluding the non-cash goodwill impairment charge taken in the third quarter. Revenue, net of subcontractor costs, for fiscal 2013 is expected to range from $1.99 billion to $2.03 billion. Analysts expect the company to report fiscal year profit per share of $0.77 on revenue of $2.05 billion.