Tetra Tech announces net revenue of $414 million in first quarter

Tetra Tech Inc. (Pasadena, Calif.) announced revenue of $540 million for the fiscal 2016 first quarter ended December 27, 2015 and net revenue of $414 million, up 3% and 2%, respectively over the prior year’s first quarter. Operating income was $39 million. Cash generated from operations was $10 million, up 87% over the prior-year period. Backlog of $1.8 billion was up 5% year over year. In January Tetra Tech acquired  Coffey International Ltd. of Australia. Coffey reported revenue of approximately US$400 million for fiscal year ended June 30, 2015. Tetra Tech’s Chairman and CEO Dan Batrack commented, “Tetra Tech delivered solid performance for the first quarter of 2016 with growth in revenue, operating income, and EPS from our ongoing operations…. With a strong first quarter and the addition of Coffey, we have increased guidance and look forward to a successful 2016.”