Los Angeles Business Journal

Earnings Roundup: Tetra Tech, Marcus & Millichap

By Business Journal Staff Wednesday, November 13, 2013

Tetra Tech Inc. on Wednesday reported fiscal fourth-quarter profit that was better that Wall Street expected.

After the markets closed, the Pasadena construction and technical services company reported net income of $25.2 million (39 cents a share), compared with $30.4 million (47 cents) in the same period last year. Revenue fell 3 percent to $698 million.

Analysts surveyed by Thomson Reuters expected the company to earn 36 cents a share on revenue of $521 million.

Shares earlier closed down 8 cents, or less than 1 percent, to $26.34 on the Nasdaq.

Marcus & Millichap Inc. reported on Wednesday growth in profit and revenue in its first earnings report since going public, citing improving real-estate market conditions.

After the markets closed, the Calabasas commercial real estate brokerage, which went public on Oct. 31, reported net income of $7.3 million, compared with $6.4 million in the same period a year earlier. Per-share figures were not made available. Revenue rose 23 percent to $112 million.

“We continue to benefit from improving commercial real estate fundamentals and our focus on the private client segment of the marketplace, which includes commercial real estate transactions in the $1 million to $10 million price range,” Chief Executive John Kerin said in a statement.

Shares gained 17 cents, or 1 percent, to close at $13.57 on the New York Stock Exchange.