Tetra Tech Jumps on Earnings
Shares of Pasadena engineering firm Tetra Tech Inc. climbed 11 percent Thursday, a day after the company reported quarterly earnings.
For the quarter ended March 29, the company reported revenue of $565 million and net income of $19 million (31 cents a share). The results, announced after markets closed Wednesday, were in line with analysts’ expectations, although both revenue and net income were lower than in the same period a year ago.
Also on Wednesday, the company announced it will purchase Cornerstone Environmental Group, an environmental engineering firm in Middletown, N.Y.
Shares closed Thursday at $27.11, up $2.78 or 11.4 percent for the day.
Management Shakeup at AeroVironment Inc.
AeroVironment’s Senior Vice President Wahid Nawabi has been named as the company's chief operating officer, effective immediately, company officials announced Thursday.
Nawabi has served as the general manager of the Monrovia unmanned aircraft and electric vehicle charger manufacturer’s efficient energy systems business division since 2011.
Kirk Flittie, the company’s former vice president and business area leader for unmanned aircraft systems division will now take over as general manager. In addition, Kenneth Karklin, the former director of quality systems, manufacturing engineering and services, is now the general manager for the efficient energy systems business segment.
Shares closed Thursday at $25.60, down three percent for the day.
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