WASHINGTON (dpa-AFX) - Tetra Tech Inc. (TTEK) reported second-quarter net income attributable to the company of $22.3 million or $0.35 per share, compared to $17.5 million or $0.28 per share last year.
On average, 15 analysts polled by Thomson Reuters expected earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenues for the quarter grew to $624.35 million from $612.57 million in the prior year period.
Revenue, net of subcontractor costs, was $476.89 million, up 10.8 percent from $430.31 million in the comparable quarter last year. Analysts estimated revenues of $471.58 million for the quarter.
Looking forward to third quarter, Tetra Tech expects earnings in a range of $0.42 to $0.45 per share, and revenues, net of subcontractor costs, of $500 million to $540 million. Analysts currently expect earnings of $0.44 per share on revenues of $528.57 million for the third quarter.
For the fiscal year 2012, Tetra Tech lifted its earnings guidance to a range of $1.59 to $1.66 from the prior range of $1.54 to $1.64. The company now expects revenue, net of subcontractor costs, guidance to range from $2.0 billion to $2.1 billion for the full year 2012. Analysts currently expect earnings of $1.62 per share on revenues of $2.02 billion for fiscal year 2012.
Earlier, the company had expected revenue, net of subcontractor costs to range from $1.9 billion to $2.1 billion for fiscal 2012.
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