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News Breaks March 1, 2013 12:55 EDT TTEK Tetra Tech sees FY13 EPS $1.85-$1.96, consensus $1.92 Sees FY13 revenue $2.15B-$2.35B, consensus $2.26B. News For TTEK From The Last 14 Days Check below for free stories on TTEK the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. June 18, 2013 19:07 EDT TTEK On The Fly: After Hours Movers Subscribe for More Information 16:51 EDT TTEK Tetra Tech to resume trading at 17:00 ET Subscribe for More Information 16:37 EDT TTEK Tetra Tech lowers Q3 guidance, authorizes $100M share repurchase plan Tetra Tech announced an update of its third quarter 2013 outlook to reflect increased restructuring costs resulting from the previously announced weakness in Eastern Canada and mining, and new findings on certain project claims. Tetra Tech plans to incur restructuring costs associated with its Eastern Canadian and mining operations in the third quarter 2013. These costs are now estimated to be approximately $50M in the third quarter, approximately $40M of which are non-recurring. This increase is principally related to increased severance and office closure costs to downsize these operations due to reduced project demand caused by poor economic conditions. Approximately two-thirds of these costs are associated with Eastern Canada, and approximately one-third are associated with mining operations. Based upon these anticipated results, Tetra Tech is performing a goodwill impairment test on its Eastern Canadian and mining operations, and will update investors on the test results in the third quarter earnings release. In addition, Tetra Tech plans to incur charges to resolve certain project claims in its third quarter. During the quarter, Tetra Tech received adverse findings principally related to claims on four programs, and will consequently record a charge while it continues the dispute resolution processes. The claims are primarily related to change orders on lump-sum projects for certain U.S. federal and state government customers that are currently under significant budget pressure. These charges are estimated to be up to $45M, most ofwhich are associated with accounts receivable. The charges will affect the revenue and profitability of all three reportable segments. In the third quarter, revenue, net of subcontractor costs, is now expected to range from $440M-$490M, and, based on these charges, diluted loss per share is expected to range from (30c)-(50c). In addition, Tetra Tech's Board of Directors has authorized the repurchase of up to $100M of its common stock. 16:34 EDT TTEK Tetra Tech lowers Q3 EPS view to (50c)-(30c) from 32c-42c, consensus 38c Subscribe for More Information 16:32 EDT TTEK Tetra Tech lowers Q3 guidance, authorizes $100M share repurchase plan Subscribe for More Information 16:25 EDT TTEK Tetra Tech trading halted, pending news June 14, 2013 13:55 EDT TTEK Tetra Tech awarded $22M abandoned mine site remediation program Subscribe for More Information June 13, 2013 17:11 EDT TTEK Tetra Tech awarded $100M U.S. Navy contract Subscribe for More Information June 10, 2013 11:21 EDT TTEK Tetra Tech awarded $400M contract Tetra Tech announced it has been awarded a $400M contract to provide technical assistance for the U.S. Agency for International Development clean energy program development in critical priority countries. The countries specified are Afghanistan, Iraq, Pakistan, South Sudan and Yemen, but others could be added later. Five companies, including two small businesses, will share in the indefinite delivery/indefinite quantity contract. The contract has a five-year ordering period. Under this contract Tetra Tech will help USAID address the growing demand for and use of clean energy services by designing clean energy strategies in critical priority countries. Tetra Tech will help improve governance structures to support clean energy development, assess the environmental implications of energy services, and help foster private sector participation and investment in clean energy. Sign up for a free trial to see the rest of the stories you've been missing.