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Tetra Tech (TTEK) Secures 5-Year $40M Contract From FAA

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Tetra Tech, Inc. (TTEK - Free Report) recently secured a five-year $40-million single-award contract from the Federal Aviation Administration (FAA) in a bid to prepare a state-of-the-art information technology system which will help improve the safety standards of the aviation industry.

Over the last six months, shares of this Zacks Rank #2 (Buy) company have rallied 13.9%, outperforming 8% growth recorded by the industry.

Inside the Headlines

The federal information technology arm of Tetra Tech has been assisting FAA’s aviation safety mission for more than 20 years.

FAA Office of Aerospace Medicine (AAM) examines aspects of aerospace medical and medicine certification programs for air-traffic controllers, pilots, and other security critical personnel.

Per the $40-million contract, Tetra Tech will support the FAA Office of Aerospace Medicine (AAM) in building an Aerospace Medicine Safety Information System (AMSIS). This will provide a combination of system architecture development, system engineering and designing, training, testing and data analytics services.

Tetra Tech stated that AMSIS will offer enhanced ability and improved data accessibility for evaluating medical information and hence identify safety trends. Notably, AMSIS will substitute the current functionalities and legacy systems, and thereby provide advanced capabilities to assist the key safety initiatives of AAM, such as Aviation Medical Examiner Program, Airmen Medical Certification, ATCS Medical Clearance, Internal Substance Abuse Program, Aerospace Medical Research and Industry Drug and Alcohol Testing Program.

Other Stocks to Consider

Some other top-ranked stocks in the Zacks Categorized Industrial Products Sector are listed below:

Applied Industrial Technologies, Inc. (AIT - Free Report) sports a Zacks Rank #1 (Strong Buy). The company has pulled off an average positive average earnings surprise of 10.97% over the last four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.

Alarm.com Holdings, Inc. (ALRM - Free Report) holds a Zacks Rank #2. The company generated an average positive average earnings surprise of 65.40% during the same time frame.

Smith (A.O.) Corporation (AOS - Free Report) carries a Zacks Rank #2. The company recorded an average positive earnings surprise of 3.85% over the trailing four quarters.

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