(TTEK) Tetra Tech – its private sector business increased 127%

February 9th, 2009

Tetra Tech, Inc. (TTEK) has been on a very nice rally since originally being featured as a momentum stock in early November in response to another solid quarter and strong estimates.

First-Quarter Results

Tetra Tech stepped up and reported solid first-quarter results on Jan 28 that were ahead of expectations. Revenue was up 35% from last year to $639 million. Income came in at $16.3 million, up from $12.9 million last year. This produced earnings of 27 cents per share, one penny ahead of the consensus estimate.

Segment Performance

Tetra Tech noted that its private sector business increased 127% due to growth from wind and water projects. The company’s federal business was up a modest 7.6%, while state and local business declined 14%.

Analyst Estimates

The analyst community remains bullish on Tetra tech, with the current-year estimate holding at 1.15 per share and the next-year estimate pegged at $1.31, a 14% earnings growth projection.

The Chart

Shares of TTEK have been on a solid rally after bottoming out just above $14 in late November. Since then, this stock has risen as high as beyond the $25 mark and is currently pressuring this area as a short-term level of resistance. Take a look below.

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More on this topic (What's this?)
Tetra Tech (TTEK) Gets a Green So Co Ports Deal (Green Stocks Central, 10/7/08)
TTEK: My Picks for One of the Best Stocks for 2009 (The Iconoclast Investor, 4/22/09)
My Pick for the Best Stimulus Stock (The Iconoclast Investor, 3/19/09)
Tetra Tech (TTEK) Awarded $40 Million Wind Farm Deal (Keenan II) (Green Stocks Central, 2/16/10)
Read more on Tetra Tech at Wikinvest

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