Tetra Tech Anticipates Eastern Canadian Weakness in Second Half

PASADENA, Calif.–(BUSINESS WIRE)– Tetra Tech, Inc. (NAS: TTEK) announced today that it anticipates weaker than expected operating performance during the second half of fiscal 2013 due primarily to its business in Eastern Canada. Tetra Tech reaffirms its previously issued guidance for the second quarter 2013, which ended in March.

Tetra Tech‘s Eastern Canadian operations have been adversely impacted by poor economic conditions, including budget deficits and reduced customer spending. In addition, there has been an on-going government investigation into political corruption in Quebec. Together these factors have slowed government procurements and business activity in Eastern Canada. As a result, Tetra Tech now anticipates weaker financial performance in its Eastern Canadian operations.

Less significantly, Tetra Tech‘s work for mining customers has continued to slow, and the Company now anticipates weaker mining performance through fiscal 2013.

The overall impact in Eastern Canada and in mining is anticipated to be a reduction of revenue, and a reduction of approximately $20 to $30 million to operating income, over the second half of fiscal 2013. Tetra Tech plans to announce its Second Quarter results, and provide updated guidance for the remainder of fiscal 2013 that reflects these circumstances, on May 1, 2013.

About Tetra Tech (www.tetratech.com)

Tetra Tech is a leading provider of consulting, engineering, program management, construction management, and technical services. The Company supports government and commercial clients by providing innovative solutions to complex problems focused on water, environment, energy, infrastructure, and natural resources. With more than 14,000 staff worldwide, Tetra Tech‘s capabilities span the entire project life cycle.

Forward-Looking Statements

This news release contains forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include information concerning future events and the future financial performance of Tetra Tech that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are urged to read the documents filed by Tetra Tech with the SEC, specifically the most recent reports on Form 10-K, 10-Q, and 8-K, …read more