Tetra Tech, Inc. (TTEK - Analyst Report) recently announced that it has won a contract worth $24 million to provide technical, analytical and programmatic support services to the U.S. Environmental Protection Agency (EPA) Brownfields and Land Revitalization Program.
As per this contract, Tetra Tech will support EPA’s Office of Brownfields and Land Revitalization (OBLR) efforts to assess, resolve, and revitalize properties that are affected by the presence or potential presence of dangerous substances, pollutants or other contaminants.
The contract spans for five years and Tetra Tech will provide a host of technical support services, including research and analytical support, program planning and reporting services; and communications and training support to the EPA.
Last month, Tetra Tech announced that it has won a $17 million contract for the excavation and construction activities related with the environmental remediation of dioxin contamination at Vietnam’s Da Nang Airport.
Tetra Tech is a leading provider of consulting, engineering, program management, construction and technical services focusing on resource management and infrastructure. It serves clients by providing cost-effective and innovative solutions for fundamental needs like water, environmental and alternative energy services.
Federal bodies like The United States Agency for International Development (USAID), the Army Corps of Engineers and the Environmental Protection Agency (EPA) are among the company’s main clients. These bodies are all receiving significant increases in funding even without taking stimulus spending into account. About 43.4% of the total revenue in fiscal 2011 was derived from the federal government and state and local government.
TTEK currently holds a Zacks# 3 Rank, implying a short-term Hold rating on the stock.