831641--11/16/2009--TETRA_TECH

related topics

{regulation, government, change}

{cost, contract, operation}

{capital, credit, financial}

{condition, economic, financial}

{operation, international, foreign}

{tax, income, asset}

{system, service, information}

{acquisition, growth, future}

{stock, price, operating}

{financial, litigation, operation}

{cost, operation, labor}

{loss, insurance, financial}

{product, liability, claim}

{personnel, key, retain}

{debt, indebtedness, cash}

{operation, natural, condition}

{interest, director, officer}

{investment, property, distribution}

{property, intellectual, protect}

{competitive, industry, competition}

{regulation, change, law}

Our operating results may be adversely impacted by worldwide political and economic uncertainties and specific conditions in the markets we address Our annual revenue, expenses and operating results may fluctuate significantly Demand for our state and local government services is cyclical and vulnerable to economic downturns; if the economy weakens, then our revenues, profits and our financial condition may deteriorate Our revenue from commercial clients is significant, and the credit risks associated with certain of these clients could adversely affect our operating results We derive a majority of our revenue from government agencies, and any disruption in government funding or in our relationship with those agencies could adversely affect our business A significant shift in U.S. defense spending could harm our operations and significantly reduce our future revenues A delay in the completion of the budget process of the U.S. government could delay procurement of our services and have an adverse effect on our future revenues As a government contractor, we are subject to a number of procurement laws, regulations and government audits; a violation of any such laws and regulations could result in sanctions, contract termination, forfeiture of profit, harm to our reputation or loss of our status as an eligible government contractor Because we depend on federal, state and local governments for a significant portion of our revenue, our inability to win or renew government contracts during regulated procurement processes could harm our operations and significantly reduce or eliminate our profits Our government contracts may give the government the right to modify, delay, curtail or terminate our contracts at its convenience at any time prior to their completion, and if we do not replace these contracts, we may suffer a decline in revenues Our failure to properly manage projects may result in additional costs or claims The loss of key personnel or our inability to attract and retain qualified personnel could significantly disrupt our business Our actual results could differ from the estimates and assumptions that we use to prepare our financial statements, which may significantly reduce or eliminate our profits Our use of the percentage-of-completion method of accounting could result in reduction or reversal of previously recorded revenue and profits Our business and operating results could be adversely affected by our inability to accurately estimate the overall risks, revenue or costs on a contract Our failure to win new contracts and renew existing contracts with private and public sector clients could adversely affect our profitability There are risks associated with our acquisition strategy that could adversely impact our business and operating results If our goodwill or other intangible assets become impaired, then our profits may be significantly reduced If we are not able to successfully manage our growth strategy, our business and results of operations may be adversely affected Adverse resolution of an Internal Revenue Service ("IRS") or other tax authority examination process may harm our financial results Our backlog is subject to cancellation and unexpected adjustments, and is an uncertain indicator of future operating results Our international operations expose us to risks such as different business cultures, laws and regulations Our international operations expose us to foreign currency risk If our business partners fail to perform their contractual obligations on a project, we could be exposed to legal liability, loss of reputation and profit reduction or loss on the project In conducting our business, we depend on other contractors and subcontractors. If these parties fail to satisfy their obligations to us or other parties, or if we are unable to maintain these relationships, our revenue, profitability and growth prospects could be adversely affected Changes in existing environmental laws, regulations and programs could reduce demand for our environmental services, which could cause our revenue to decline Changes in capital markets could adversely affect our access to capital and negatively impact our business Restrictive covenants in our credit agreement may restrict our ability to pursue certain business strategies Our industry is highly competitive and we may be unable to compete effectively The value of our common stock could be volatile Our services expose us to significant risks of liability and it may be difficult to obtain or maintain adequate insurance coverage Our liability for damages due to legal proceedings may harm our operating results or financial condition Our inability to obtain adequate bonding could have a material adverse effect on our future revenues and business prospects Our business activities may require our employees to travel to and work in countries where there are high security risks, which may result in employee death or injury, repatriation costs or other unforeseen costs Our failure to implement and comply with our safety program could adversely affect our operating results or financial condition We may be precluded from providing certain services due to conflict of interest issues Force majeure events, including natural disasters and terrorists' actions could negatively impact the economies in which we operate or disrupt our operations, which may affect our financial condition, results of operations or cash flows We have only a limited ability to protect our intellectual property rights, and our failure to protect our intellectual property rights could adversely affect our competitive position If we do not successfully complete the ERP system, our cash flows may be impaired and we may incur further costs to integrate or upgrade our systems; any sudden loss, disruption or unexpected costs to maintain our ERP system or other third-party software could significantly increase our operational expense and disrupt the management of our business operations

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831641--11/16/2009--TETRA_TECH_INC