Pasadena, CA — Tetra Tech, an engineering services firm with offices in Delaware, announced first-quarter revenue of $669 million, up 19 percent from last year.
Operating income for the quarter was $40 million, and, on an ongoing basis, totaled $43 million. Earnings per share were 46 cents, or on an ongoing basic, 49 cent. That’s up 17 percent year over year. Tetra Tech’s board of directors declared a quarterly dividend of 9 cents per share payable on March 3 to stockholders of record as of February 17.
“Tetra Tech started fiscal year 2017 with very strong results, exceeding our quarterly guidance for both net revenue and earnings,” company CEO Dan Batrack said. “Services across our core markets of water, environment, and infrastructure remain in high demand, and the initial priorities established by the new administration represent additional opportunities for Tetra Tech in all areas of U.S. infrastructure. Strong orders in our federal and state and local markets increased our backlog to a record $2.5 billion, providing a solid platform for growth as we enter the second quarter.”
The company also announced the acquisition of Eco Logical Astralia, a consulting firm with more than 160 staffers.