Tetra Tech Wins FAA Contract

Zacks

Leading technical services provider, Tetra Tech Inc. (TTEK), received a contract from the Federal Aviation Administration’s (:FAA) Office of Security and Hazardous Materials Safety (ASH) Information Technology Support Services.

Per the contract, Tetra Tech will primarily provide extended programmatic and operational support services for FAA’s information technology and security programs. The one-year contract, valued at $76 million, can be extended up to four years.

Apart from the support services, Tetra Tech will offer specialized cyber security services and help manage hazardous materials tracking systems. Tetra Tech has a decade long history of offering services to FAA’s Office of (ASH) Information Technology Support Services.

In Feb 2014, Tetra Tech received a $243 million contract from the National Guard Bureau Environmental Engineering Support Services for providing diverse services in the U.S. and surrounding areas.

Tetra Tech is a leading provider of services like consulting, engineering and program management. It also supports commercial clients by offering integrated solutions for environmental services, water, energy, infrastructure and natural resources.

The company posted a strong second quarter fiscal 2014 with both earnings and revenues surpassing the Zacks Consensus Estimate by 23.1% and 18.7%, respectively. Further, the company raised its earnings guidance for fiscal 2014. Earnings per share are expected in the band of $1.75–$1.85 as compared with the prior projection of $1.60–$1.80.

Currently, Tetra Tech has a Zacks Rank #3 (Hold). Some better-ranked stocks that warrant a look in the pollution control industry include Fuel-Tech, Inc. (FTEK), Landauer Inc. (LDR) and Pure Cycle Corp. (PCYO). All three carry a Zacks Rank #2 (Buy).

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