Tetra Tech expects 3Q results roughly in line with Street
Wednesday April 30, 6:18 pm ET
Tetra Tech forecasts fiscal 3rd-quarter results roughly in line with Wall Street estimates
PASADENA, Calif. (AP) -- Engineering and technical services provider Tetra Tech Inc. said Wednesday it expects fiscal third-quarter profit and sales roughly in line with Wall Street's expectations. For the quarter ending in June, the company forecast earnings of 22 cents to 24 cents per share. The company projected sales, net of subcontractor costs, of $285 million to $305 million.
Analysts, on average, predict a profit of 24 cents per share on sales of $290.8 million, according to a poll by Thomson Financial.
Tetra Tech raised its full-year earnings guidance to a range of 90 cents to 94 cents a share. The company forecast sales, net of subcontractor costs, of $1.15 billion to $1.19 billion.
Analysts expect profit of 93 cents per share on sales of $1.15 billion.
Shares rose $1.57, or 7.4 percent, to $22.70 in after-hours electronic trading. The stock had closed down 42 cents at $21.13.