reported fourth-quarter net income of $9.1 million (16 cents per share) for the three months ended Oct. 2, compared with a loss of $11.3 million (20 cents) for the like period a year earlier. Revenue for the Pasadena-based engineering and technical services provider fell 7.4 percent to $351.2 million.
Tetra Tech expects first-quarter earnings to be in the range of 14 cents to 16 cents per share. Tetra Tech anticipates full-year earnings of between 68 cents to 75 cents per share.
Tetra Tech Inc. also named a new chief executive to replace Li-San Hwang, who is stepping down after nearly 40 years, effective immediately. Hwang will remain chairman until the 2006 annual stockholder's meeting on March 6. The company's executive vice president and chief operating officer, Dan Batrack, was chosen by the board to succeed Hwang.
& #8226; Jakks Pacific Inc. signed a licensing agreement with the Cat Fanciers' Association and the organization's licensing and marketing agent 4Kids Entertainment Inc. to develop pet products based on the Manasquan, N.J.-based cat registry's brand. The line of products, which includes toys, food, treats, apparel, carriers and beds for cats and kittens, is expected to ship to retailers in 2006. The agreement is part of the expansion goal of Malibu-based Jakks' new pet division, JPI Pets, the company said in a statement.
& #8226; The founder of Save the World Air Inc. was ordered by a federal court in Manhattan to pay $7.6 million for allegedly cheating investors, Bloomberg News reported. Jeffrey Alan Muller was ordered to return money he made selling millions of shares after the stock jumped in 1999 and 2000 on false sales reports that his company had built a device to boost gas mileage and reduce auto emissions. The company, which is now based in North Hollywood, had its headquarters in Australia at the time of the fraud. Environmental activist Erin Brockovich serves as a vice president of Save the World Air Inc.
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