Tetra Tech Trading Down After Lowering FY10 Guidance

Tetra Tech (NASDAQ: TTEK) lowered its FY10 guidance to $1.08-$1.18 versus the Street view of $1.32. It is trading down 10% in the after hours session. It sees FY10 revenue $1.4B-$1.5 billion versus the Street view $1.5 billion.

Tetra Tech’s Chairman and CEO, Dan Batrack commented, "We are forecasting that the remainder of fiscal 2010 will remain strong for our front-end consulting and engineering services. However, we now believe that back-end construction management services will weaken in the second quarter and remain soft for the remainder of the fiscal year, driven primarily by the commercial market downturn and the continued slow pace of stimulus spending. Due to forecasted reductions in our construction management services, we have lowered our guidance for the remainder of fiscal 2010.”