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Quarterly Financial Information-Unaudited
12 Months Ended
Sep. 29, 2013
Quarterly Financial Information-Unaudited  
Quarterly Financial Information-Unaudited

19.         Quarterly Financial Information – Unaudited

              In the opinion of management, the following unaudited quarterly data for fiscal years ended September 29, 2013 and September 30, 2012 reflect all adjustments necessary for a fair statement of the results of operations.

              In the third quarter of fiscal 2013, we reported operating losses of $99.9 million, which included a non-cash goodwill impairment charge of $56.6 million. Additionally, we incurred project charges, including claims related to adverse developments on three programs in the RCM segment with U.S. federal and state and local government clients. We also recorded a project-related charge on a commercial development project in the TSS segment due to a change in client ownership and the related modification of plans for completion of the project. Collectively, project charges on these four programs reduced operating income by $35.5 million. Further, the weaker results in our Eastern Canada and global mining operations and the resulting charges to right-size these businesses caused a reduction of $28.2 million in operating income.

 
  First
Quarter
  Second
Quarter
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Quarter
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Quarter
 
 
  (in thousands, except per share data)
 

Fiscal Year 2013 

                         

Revenue

  $ 658,545   $ 641,999   $ 614,835   $ 698,376  

Operating income (loss)

    41,809     37,667     (99,884 )   40,626  

Net income (loss) attributable to Tetra Tech

    26,224     24,820     (78,385 )   25,200  

Net income (loss) attributable to Tetra Tech per share (1):

                         

Basic

  $ 0.41   $ 0.38   $ (1.21 ) $ 0.39  
                   

Diluted

  $ 0.41   $ 0.38   $ (1.21 ) $ 0.39  
                   

Weighted-average common shares outstanding:

                         

Basic

    63,864     64,551     64,832     64,272  
                   

Diluted

    64,608     65,472     64,832     64,853  
                   

Fiscal Year 2012

 

 


 

 


 

 


 

 


 

Revenue

  $ 682,627   $ 624,345   $ 684,698   $ 719,405  

Operating income

    36,093     35,543     46,261     48,470  

Net income attributable to Tetra Tech

    22,610     22,284     29,054     30,432  

Earnings per share attributable to Tetra Tech (1):

                         

Basic

  $ 0.36   $ 0.35   $ 0.46   $ 0.48  
                   

Diluted

  $ 0.36   $ 0.35   $ 0.45   $ 0.47  
                   

Weighted-average common shares outstanding:

                         

Basic

    62,433     63,072     63,387     63,623  
                   

Diluted

    63,068     63,817     64,179     64,396  
                   

 

 

 

 

 

 

 

 

 

 

 

 

 

 
(1)
The sum of the quarterly EPS may not add up to the full-year EPS due to rounding.