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Tetra Tech Inc. (NASDAQ:TTEK) is scheduled to report its third quarter and fiscal 2011 results on Wednesday November 9, 2011. The current Zacks Consensus Estimate for the quarter is 40 cents a share. For the quarter under review, revenue is $478 million, according to the Zacks Consensus Estimate.

Second-Quarter 2011, a Synopsis

Tetra Tech Inc. reported its second-quarter fiscal 2011 earnings per share of $0.28, below the Zacks Consensus Estimate of $0.29 but above the prior-year earnings of $0.23. The company had a strong second quarter with high double-digit growth in revenue, earnings and backlog.

Total revenue in the quarter was $612.6 million, an increase of 30.5% year over year. Revenue, net of subcontractor costs, was $430.3 million compared with $325.9 million in the prior-year quarter. Subcontractor cost in the quarter was $182.3 million compared with $143.6 million.

Tetra Tech’s revenue from the international market more than tripled during the quarter due to increased mining activity and contribution from recent acquisitions made in Canada. An improvement in economic environment increased revenue by 14% year over year. Backlog increased 18.7% year over year to $1.99 billion at the end of the reported quarter.

Third-Quarter 2011 Zacks Consensus

The analysts considered by Zacks, expect Tetra Tech to post third-quarter 2011 earnings of 40 cents a share. The current Zacks Consensus Estimate reflects an increase of 8.45% from the prior-year quarter’s earnings. The current Zacks Consensus Estimate for the quarter ranges between 39 cents and 41 cents a share.

Zacks Agreement & Magnitude

Among the analysts following the stock, none has raised the estimate projection in the last 7 and 30 days, therefore, the Zacks Consensus Estimate is stagnant at 40 cents.

Mixed Earnings Surprise History

With respect to earnings surprises, Tetra Tech has topped the Zacks Consensus Estimate in three of the last four quarters in the range of 3.0% to 12.1%. The average remained at positive 5.1%. This suggests that Tetra Tech has beaten the Zacks Consensus Estimate by an average of 5.1% in the trailing four quarters.

Zacks Rank

Tetra Tech is a leading provider of consulting, engineering, program management, construction and technical services focusing on resource management and infrastructure.

Revenues during the first two quarters have increased double digits, led by contributions from recent acquisitions and strength in mining projects. Revenues from the International market more than tripled during the quarter due to increased mining activity and contribution from recent acquisitions in Canada. Therefore, the company now expects revenue, net of subcontractor cost, to be in the range of $450 million to $475 million for the third quarter.

Tetra Tech primarily competes with Pall Corp. (NYSE:PLL) and currently holds a Zacks #2 Rank which implies short term Buy rating on the stock.

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