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Tetra Tech Reports Strong First Quarter 2021 Results

first_img Pinterest Local NewsBusiness Facebook TAGS  In thousands Pinterest $605,171 2 Reconciliation of the net revenue guidance to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict the magnitude and timing of all the components required to provide such reconciliation with sufficient precision. Three Months Ended Revenue Business Outlook The following statements are based on current expectations. These statements are forward-looking and the actual results could differ materially. These statements do not include the potential impact of transactions that may be completed or developments that become evident after the date of this release. The Business Outlook section should be read in conjunction with the information on forward-looking statements at the end of this release. Tetra Tech expects EPS for the second quarter of fiscal 2021 to range from $0.73 to $0.78 and net revenue to range from $565 million to $595 million. For fiscal 2021, Tetra Tech is increasing its guidance outlook and now expects EPS to range from $3.45 to $3.60 and net revenue to range from $2.40 billion to $2.55 billion. 2 Webcast Investors will have the opportunity to access a live audio-visual webcast and supplemental financial information concerning the first quarter 2021 results through a link posted on the Company’s website at tetratech.com on January 28, 2021 at 8:00 a.m. (PT). ———————————————————— $765,104 (183,600) Dec. 27, 2020 Net revenue Dec. 29, 2019 WhatsApp (159,933) Subcontractor Costs Previous articleNCAA probe is ‘speed bump’ to Vols’ new coach Josh HeupelNext articleBrown-Forman Declares Cash Dividend Digital AIM Web Support PASADENA, Calif.–(BUSINESS WIRE)–Jan 27, 2021– Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, today announced results for the first quarter ended December 27, 2020. First Quarter Results Revenue in the first quarter totaled $765 million and revenue, net of subcontractor costs (net revenue) 1, was $605 million. Operating income was $66 million, up 5% year-over-year, driven by a 70 basis point increase in operating margin. Earnings per share (“EPS”) was $0.96, up 13% year-over-year. Cash generated from operations was $33 million, up $51 million year-over-year driven by a six day reduction in days sales outstanding (“DSO”) year-over-year. Backlog at the end of the quarter was $3.2 billion. Quarterly Dividend and Share Repurchase Program On January 25, 2021, Tetra Tech’s Board of Directors declared a $0.17 per share dividend, a 13% increase over the prior year, payable on February 26, 2021 to stockholders of record as of February 10, 2021. In the first quarter, Tetra Tech repurchased $15 million of common stock. Additionally, as of December 27, 2020, the Company had $193 million remaining under the approved share repurchase program. Chairman and CEO Comments Tetra Tech’s Chairman and CEO, Dan Batrack, commented, “Tetra Tech continued its strong momentum into fiscal year 2021 with first quarter results that exceeded our forecast for both net revenue and earnings. Our results were led by 11% net revenue growth in water and environmental programs for our U.S. state and local government clients and a 70 basis point increase in operating margin. Our Leading with Science ® approach is in high demand by our clients, augmented by a suite of proprietary technologies and tools we call the Tetra Tech Delta. The new U.S. administration’s priorities in climate change and infrastructure are well aligned with our market leading positions in water, environment, sustainable infrastructure and renewable energy. Given the strength of our performance to date and outlook, we are increasing guidance for both net revenue and EPS for fiscal 2021.” $614,023 $797,623 By Digital AIM Web Support – January 27, 2021 Tetra Tech Reports Strong First Quarter 2021 Results About Tetra Tech Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure and renewable energy. We are Leading with Science ® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter ( @TetraTech ), or like us on Facebook. Reconciliation of GAAP and Non-GAAP Item ———————————————————— WhatsApp Twitter Twitter Forward-Looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as “anticipate,” “expect,” “could,” “may,” “intend,” “plan” and “believe,” among others, generally identify forward-looking statements. These forward-looking statements are based on currently available operating, financial, economic and other information, and are subject to a number of risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. A variety of factors, many of which are beyond our control, could cause actual future results or events to differ materially from those projected in the forward-looking statements in this release, including but not limited to: the impact of the COVID-19 pandemic; continuing worldwide political and economic uncertainties; the U.S. Administration’s potential changes to fiscal policies; the cyclicality in demand for our overall services; the fluctuation in demand for oil and gas, and mining services; risks related to international operations; concentration of revenues from U.S. government agencies and potential funding disruptions by these agencies; dependence on winning or renewing U.S. government contracts; the delay or unavailability of public funding on U.S. government contracts; the U.S. government’s right to modify, delay, curtail or terminate contracts at its convenience; compliance with government procurement laws and regulations; credit risks associated with certain clients in certain geographic areas or industries; acquisition strategy and integration risks; goodwill or other intangible asset impairment; the failure to comply with worldwide anti-bribery laws; the failure to comply with domestic and international export laws; the failure to properly manage projects; the loss of key personnel or the inability to attract and retain qualified personnel; the ability of our employees to obtain government granted eligibility; the use of estimates and assumptions in the preparation of financial statements; the ability to maintain adequate workforce utilization; the use of the percentage-of-completion method of accounting; the inability to accurately estimate and control contract costs; the failure to adequately recover on our claims for additional contract costs; the failure to win or renew contracts with private and public sector clients; growth strategy management; backlog cancellation and adjustments; risks relating to cyber security breaches; the failure of partners to perform on joint projects; the failure of subcontractors to satisfy their obligations; requirements to pay liquidated damages based on contract performance; the adoption of new legal requirements; changes in resource management, environmental or infrastructure industry laws, regulations or programs; changes in capital markets and the access to capital; credit agreement covenants; industry competition; liability related to legal proceedings, investigations, and disputes; the availability of third-party insurance coverage; the ability to obtain adequate bonding; employee, agent, or partner misconduct; employee risks related to international travel; safety programs; conflict of interest issues; liabilities relating to reports and opinions; liabilities relating to environmental laws and regulations; force majeure events; protection of intellectual property rights; stock price volatility; the ability to impede a business combination based on Delaware law and charter documents; and other risks and uncertainties as may be described in Tetra Tech’s periodic filings with the Securities and Exchange Commission, including those described in the “Risk Factors” section of Tetra Tech’s Annual Report on Form 10-K for the fiscal year ended September 27, 2020, and Tetra Tech’s Quarterly Reports on Form 10-Q for fiscal year 2021, as well as in Tetra Tech’s other filings with the SEC. Readers should not place undue reliance on forward-looking statements since such information speaks only as of the date of this release. Tetra Tech does not intend to update forward-looking statements and expressly disclaims any obligation to do so. Non-GAAP Financial Measures To supplement the financial results presented in accordance with generally accepted accounting principles in the United States (“GAAP”), we present certain non-GAAP financial measures within the meaning of Regulation G under the Securities Exchange Act of 1934, as amended. We provide these non-GAAP financial measures because we believe they provide a valuable perspective on our financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, GAAP measures. In addition, other companies may define non-GAAP measures differently which limits the ability of investors to compare non-GAAP measures of Tetra Tech to those used by our peer companies. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is included in this release. View source version on businesswire.com:https://www.businesswire.com/news/home/20210127005896/en/ CONTACT: Jim Wu, Investor Relations Charlie MacPherson, Media & Public Relations (626) 470-2844 KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA CANADA INDUSTRY KEYWORD: CONSULTING MANUFACTURING ENVIRONMENT PROFESSIONAL SERVICES ENGINEERING SOURCE: Tetra Tech, Inc. Copyright Business Wire 2021. PUB: 01/27/2021 04:00 PM/DISC: 01/27/2021 04:01 PM http://www.businesswire.com/news/home/20210127005896/en Facebook 1 Non-GAAP financial measures which the Company believes provide valuable perspectives on its business results. Refer to Reconciliation of GAAP and non-GAAP Item.last_img read more

The Humans & More Land Lucille Lortel Nominations

first_img Nominations for the 31st annual Lucille Lortel Awards, honoring the best of the off-Broadway season, were announced on March 30. Stephen Karam’s The Humans led the pack with six nominations, although it did not receive a nod for Outstanding Play. The production is currently playing Broadway’s Helen Hayes Theatre. Meanwhile, César Alvarez’s Futurity received the most nominations for off-Broadway musicals with five nods. The Lortel Awards will be presented at the NYU Skirball Center on May 1.The nominations are as follows:Outstanding PlayThe Christians, Written by Lucas HnathEclipsed, Written by Danai GuriraGloria, Written by Branden Jacobs-JenkinsGuards at the Taj, Written by Rajiv JosephJohn, Written by Annie BakerOutstanding MusicalFuturity, Music by César Alvarez with The Lisps, Lyrics and Book by César AlvarezIowa, Written by Jenny Schwartz, Music by Todd Almond, Lyrics by Todd Almond and Jenny SchwartzSouthern Comfort, Book and Lyrics by Dan Collins, Music by Julianne Wick Davis, Based on the Film by Kate Davis, Conceived for the Stage by Robert DuSold and Thomas CarusoTappin’ Thru Life, Written by Maurice HinesThe Wildness: Sky-Pony’s Rock Fairy Tale, Text by Kyle Jarrow & Lauren Worsham, Songs by Kyle JarrowOutstanding Revival’Tis Pity She’s a Whore, Written by John FordCloud Nine, Written by Caryl ChurchillMother Courage And Her Children, Written by Bertolt Brecht, Translated by John WillettThe Robber Bridegroom, Book and Lyrics by Alfred Uhry, Music by Robert WaldmanWomen Without Men, Written by Hazel EllisOutstanding Solo ShowThe Absolute Brightness of Leonard Pelkey, Written and Performed by James LecesneForever, Created and Performed by Dael OrlandersmithGrounded, Written by George Brant, Performed by Anne HathawayMike Birbiglia: Thank God For Jokes, Written and Performed by Mike BirbigliaOutstanding DirectorRachel Chavkin, The RoyaleAnne Kauffman, Marjorie PrimeAmy Morton, Guards at the TajLiesl Tommy, EclipsedEric Tucker, Bedlam’s Sense & SensibilityOutstanding ChoreographerAlexandra Beller, Bedlam’s Sense & SensibilityMartha Clarke, Angel ReapersMaurice Hines, Tappin’ Thru LifePaul McGill, The Legend of Georgia McBrideDavid Neumann, FuturityOutstanding Lead Actor in a PlayDenis Arndt, HeisenbergReed Birney, The HumansTimothée Chalamet, Prodigal SonAndrew Garman, The ChristiansEd Harris, Buried ChildOutstanding Lead Actress in a PlayIto Aghayere, FamiliarGeorgia Engel, JohnJayne Houdyshell, The HumansChinasa Ogbuagu, SojournersPhylicia Rashad, Head of PassesOutstanding Lead Actor in a MusicalGabriel Ebert, PreludesMichael C. Hall, LazarusMaurice Hines, Tappin’ Thru LifeMichael Luwoye, Invisible ThreadSteven Pasquale, The Robber BridegroomOutstanding Lead Actress in a MusicalSophia Anne Caruso, LazarusAlison Fraser, First Daughter SuiteAnnette O’Toole, Southern ComfortMary Testa, First Daughter SuiteSammy Tunis, FuturityOutstanding Featured Actor in a PlaySanjit De Silva, Dry PowderJonathan Hogan, Hold On To Me DarlingMatt McGrath, The Legend of Georgia McBridePaul Sparks, Buried ChildC.J. Wilson, Hold On To Me DarlingOutstanding Featured Actress in a PlayAlana Arenas, Head of PassesLauren Klein, The HumansJeanine Serralles, GloriaLois Smith, JohnMyra Lucretia Taylor, FamiliarOutstanding Featured Actor in a MusicalGreg Hildreth, The Robber BridegroomJeffrey Kuhn, Southern ComfortOr Matias, PreludesChris Sarandon, PreludesKevin Zak, Clinton the MusicalOutstanding Featured Actress in a MusicalEisa Davis, PreludesKaren Kandel, FuturityLeslie Kritzer, GiganticLeslie Kritzer, The Robber BridegroomAnnie McNamara, IowaOutstanding Scenic DesignMimi Lien, JohnTimothy R. Mackabee, Guards at the TajG.W. Mercier, Head of PassesEmily Orling and Matt Saunders, FuturityDavid Zinn, The HumansOutstanding Costume DesignMartha Hally, Women Without MenToni-Leslie James, First Daughter SuiteClint Ramos, EclipsedAnita Yavich, The Legend of Georgia McBrideDonna Zakowska, Angel ReapersOutstanding Lighting DesignChristopher Akerlind, GroundedMark Barton, JohnBen Stanton, The Legend of Georgia McBrideJustin Townsend, The HumansDavid Weiner, Guards at the TajOutstanding Sound DesignMatt Hubbs, The RoyaleRob Milburn and Michael Bodeen, Guards at the TajFitz Patton, The HumansWill Pickens, GroundedBray Poor, BuzzerSPECIAL AWARDSOutstanding Alternative Theatrical ExperienceAngel Reapers By Martha Clarke and Alfred UhryPeter Nigrini, Projection Design, GroundedHONORARY AWARDSLifetime Achievement AwardJames HoughtonPlaywrights’ Sidewalk InducteeSuzan-Lori ParksNOMINATIONS BY SHOW TITLE TOTAL:The Humans: 6Futurity: 5Guards at the Taj: 5John: 5The Legend of Georgia McBride: 4Preludes: 4The Robber Bridegroom: 4Eclipsed: 3First Daughter Suite: 3Grounded: 3Head of Passes: 3Southern Comfort: 3Tappin’ Thru Life: 3Angel Reapers: 2Bedlam’s Sense & Sensibility: 2Buried Child: 2The Christians: 2Familiar: 2Gloria: 2Hold On To Me Darling: 2Iowa: 2Lazarus: 2The Royale: 2Women Without Men: 2Single nominations: ‘Tis Pity She’s a Whore; The Absolute Brightness of Leonard Pelkey; Buzzer; Clinton The Musical; Cloud Nine; Dry Powder; Forever; Gigantic; Heisenberg; Invisible Thread; Marjorie Prime; Mike Birbiglia: Thank God For Jokes; Mother Courage And Her Children 1; Prodigal Son 1; Sojourners; The Wildness: Sky-Pony’s Rock Fairy Tale ‘The Humans’ View Commentslast_img read more

BHP puts its ACES on train health monitoring

first_imgINTRO: Significant improvements in operating safety and reduced rolling stock maintenance costs have followed the introduction of automated train health monitoring systems on Australia’s Mount Newman iron ore lineBYLINE: Janusz DudekPrincipal EngineerAdvanced Technical Research OrganisationPILBARA heavy-haul railway operator BHP Iron Ore has introduced a whole train condition monitoring system on its former Mount Newman line running inland from Port Hedland. Better known as the Automatic Car Examiner Station, the train health condition monitoring system is currently being used to inspect more than 2 000 wagons per day. Using video and acoustic image processing, the technology was originally developed for space research, but was adapted for rail by Western Australian firm Advanced Technical Research Organisation. ACES comprises four principal units, or ’stations’. The supervisor’s console (station 4) is located in BHP’s air-conditioned office situated in the Ore Car Repair Shop. The other three stations, covering Train Departure & Arrival, Car Dumper 1, and Car Dumper 2, are located 7 km away from the supervisor’s console. They use 22 CCTV cameras, 18 proximity sensors, microphones, frame grabbers, and other components to carry out the whole condition monitoring process on moving trains. The ATRO-developed software runs on seven 6X86 computers networked together.The train health monitoring system installed at Port Hedland is the first automatic system in the world to monitor so many wagon components in motion simultaneously. Not only does it outdo the scope of a traditional car examiner, it adds a new dimension to train heath condition monitoring, setting new standards for the 21st century.Brakes and flatsAt the Departure & Arrival Station (No 1) video cameras on both sides of the track monitor whether any handbrakes have been left applied on the departing train. As each train usually consists of 240 wagons, manual inspection by a car examiner has proved very difficult, especially when the train is moving at a speed of 30 to 50 km/h in the extreme conditions of the Pilbara, where daytime temperatures can exceed 40°C. With ACES the train inspection is carried out much more efficiently using one 6X86 microprocessor, a frame grabber and two cameras. If the processing software detects that any handbrakes are still applied, the wagon’s images are automatically transferred by modem to the supervisor’s console. A synthesised spoken warning message draws the supervisor’s attention to the fault indication, and to the image of the handbrake displayed on the screen for verification (Fig 1, above right). The supervisor can then call the driver by radio to stop the train.Departing and arriving trains also have their wheels acoustically examined by the same computer that collects and analyses the handbrake images. Two microphones located on both sides of the track collect the audio signal from the passing train, digitise it and save it to the computer hard drive. A Car Examiner’s perception of a wheel flat or a bearing noise can be very subjective and non-quantitative. It depends on the time of day, background noise level and the fatigue level of the person. A computer does not suffer from these factors. A Fast Fourier Transform (FFT) algorithm is used to detect any wheel flats or bearing noise. This information and the selected part of the sound files can then be transferred to the supervisor’s console. The threshold at which the system picks up a fault has been set for the average level as used by the car examiners.Dumper stationsThe two stations at Car Dumper 1 and Car Dumper 2 are identical. Their job is to inspect all the remaining ore car components which are not inspected at the Departure & Arrival station. At present 10 different items are being inspected at the Car Dumper stations:last_img read more

Klopp explains hooking Minamino for Everton stalemate

first_img Picked to start on the right-hand side of the Reds’ front three in the absence of Mohamed Salah at Goodison Park, the Japanese looked bright during the opening 45 minutes. However, he was surprisingly withdrawn at the break, with Alex Oxlade-Chamberlain coming on to take his place on the wing for the second half.Advertisement Liverpool boss, Jurgen Klopp, explained hooking Takumi Minamino at halftime for their 0-0 draw with Everton. Klopp told Sky Sports: “Before the game already I had the idea that I wanted to change really early, just not to wait until somebody has a little bit less than fresh legs. read also:Klopp slams England’s response to the coronavirus “[It was] just to use the opportunity that five changes give you. But Taki played well, he was really in the game. “In the beginning it was a bit difficult but then he was in the game. [The sub] had nothing to do with Taki’s performance, it was purely my idea just to try it.” FacebookTwitterWhatsAppEmail分享 center_img Loading…last_img read more

Boeheim addresses media after 108-56 victory over Monmouth

first_imgSyracuse head coach Jim Boeheim addresses media following the Orange’s 108-56 victory over Monmouth. In a team effort, the Orange offense came together, as seven players scored in double figures. Comments Related Stories SMASH MOUTH: Behind dazzling offensive display, Syracuse routs overmatched Monmouth 108-56On the beat: Men’s basketball beat writers Ryne Gery and Michael Cohen reflect on Syracuse’s victory over MonmouthCooney continues hot shooting, drains 5 3-pointers in win over Monmouth; Christmas gives Syracuse force in middle of zone, records 4 blocks Gallery: Syracuse routs Monmouth 108-56 Published on December 9, 2012 at 1:25 amcenter_img Facebook Twitter Google+last_img read more

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