TETRA TECH BUYS CAMARILLO FIRM.Byline: Jamie McClintock Staff Writer Tetra Tech Inc., in an effort to bolster services to government defense programs, bought Camarillo-based Engineering Management Concepts Inc. on Tuesday. While terms of the acquisition were not disclosed, EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. is projected to gross $40 million in 2003, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. officials of Pasadena-based Tetra Tech. EMC, which had been privately held and now becomes a wholly-owned subsidiary of Tetra Tech, provides engineering and program-management support in the areas of weapons-test ranges, systems logistics and information technology, primarily to the Department of Defense, officials said. Tetra Tech primarily provides water resources and environmental support to federal agencies. The acquisition will help Tetra Tech ``try to essentially expand all activity to support the government and all aspects of services,'' said Li-San Hwang, the firm's chief executive officer. He expects about 40 percent of business to flow from the federal government and about 20 percent from state and local government. This was ``a very pleasant acquisition as far as the shareholders of the company have been concerned,'' said Bill Woolley, a primary stockholder of EMC. ``We kind of represent a new business unit for (Tetra Tech),'' Woolley said. ``They have been involved in services, as we have been, but we have a new customer set for them.'' Although the acquisition will likely not have a large immediate financial impact for Tetra Tech, the move will help the company strengthen its position in the Department of Defense market, said Seth Tutlis, an equity analyst at Sidoti and Co. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . ``On the surface, it's not very material to the larger company, but down the road, it could turn into something incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. ,'' he said. Tutlis gave Tetra Tech a ``buy'' rating Tuesday. Analysts polled by Thomson First Call on Tuesday gave Tetra Tech an average rating of 1.8 on a five-point scale, with one being the highest. Shares of Tetra Tech closed down 6 cents Tuesday to $16.06 on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. . Jamie McClintock, (626) 962-8811 jamie.mcclintock(at)sgvn.com WHAT'S THE DEAL? Engineering Management Concepts Inc. INDUSTRY: Engineering and program management HEADQUARTERS: Camarillo FOUNDED: 1984 PRIMARY STOCKHOLDERS: Bill Woolley and Joseph Hall EMPLOYEES: 350 in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ANNUAL REVENUE (2002): Approximately $30 million Tetra Tech Inc. INDUSTRY: Engineering HEADQUARTERS: Pasadena FOUNDED: 1966 CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. : Li-San Hwang EMPLOYEES: 8,000 ANNUAL SALES (2002): $740.7 million NET INCOME (2002): $31.9 million CAPTION(S): box Box: WHAT'S THE DEAL? (see text) |
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