|
|
Article: Tetra Tech Updates Guidance for Third Quarter Based on Charge for Metricom Work.
- Article from:
- Business Wire
- Article date:
- July 2, 2001
CopyrightCOPYRIGHT 2001 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)
|
Business Editors
PASADENA, Calif.--(BUSINESS WIRE)--July 2, 2001
Tetra Tech, Inc. (Nasdaq:TTEK) announced today that it will update its guidance for the third quarter, based on the decision by Metricom, Inc. (Nasdaq:MCOM) to file for protection under Chapter 11 of the U.S. Bankruptcy Code, and to engage in restructuring discussions with its creditors.
Since September 1999, Tetra Tech has performed wireless network development work under several contracts in connection with Metricom's Ricochet network. Tetra Tech has notified Metricom that it is terminating those contracts. Although Tetra Tech has received payments from Metricom through May of ...