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Article: Tetra Tech Concludes Nextel Negotiations with Favorable Long-Term Outcome and Revises Guidance for This Quarter.
- Article from:
- Business Wire
- Article date:
- April 8, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
PASADENA, Calif.--(BUSINESS WIRE)--April 8, 2004
Tetra Tech, Inc. (Nasdaq:TTEK) announced today that it has concluded its negotiations with Nextel. Under the revised contract, Tetra Tech has agreed to increase its business volume with Nextel in exchange for accelerated payment terms and other improved terms and conditions.
A revised contract was necessary because the mix of high cost sites had been increasing beyond what was planned in the original fixed-price contract with Nextel. The revised contract has provisions to manage high cost sites, as well as accelerated payment terms and improved unit pricing. As a result, Tetra ...