Tetra Tech Gets Govt. Orders

Tetra Tech Inc. (TTEK) recently won a $25 million contract for providing technical support to several programs run by the US Environmental Protection Agency in the Pacific Southwest Region Water Division.

During the five-year term of the agreement, Tetra Tech will support pollution prevention and sustainable water infrastructure activities associated with the Clean Water Act, the Marine Protection and Sanctuaries Research Act and the Safe Drinking Water Act.

The company also received a $13.1 million contract from the Navy for a sanitary sewer system, storm drain removal and other services at Hunters Point Shipyard in San Francisco. This project is expected to be completed by March 2011.

Tetra Tech said that the dck/TtEC LLC was one of four contractors awarded a global multiple-award construction (GMAC) contract with the U.S. Navy. The indefinite delivery contract has a shared ceiling value of $900 million, with one base year and four option years. The dck/TtEC LLC combines Tetra Tech’s resources with those of dck worldwide, a global construction company. The GMAC includes design-build and design-bid-build projects at US Department of Defense installations worldwide.

Tetra Tech is a leading provider of consulting, engineering, program management, construction and technical services addressing resource management and infrastructure markets. The company supports government and commercial clients by providing innovative solutions focused on water, environment and energy. With more than 10,000 employees worldwide, Tetra Tech’s capabilities span the entire project life cycle. Its major competitors include Shaw Group Inc. (SHAW) and URS Corp. (URS).

We currently have a Neutral recommendation on the stock.

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