Tetra Tech Inc.(TTEK) announced that it has recently received an Indefinite Delivery-Indefinite Quantity (IDIQ) contract worth nearly $30 million from the National Institute of Standards and Technology (NIST). Along with this, the company received three more IDIQ contracts from the U.S. General Services Administration (GSA). The value of the contracts remains undisclosed.
The five-year contract from NIST requires Tetra Tech to offer engineering services for the NIST Center for Neutron Research (NCNR). The company will be designing complete systems for NCNR after analyzing its requirements. Additionally, Tetra Tech will provide integration services to help NCNR upgrade its scientific instruments and associated works. Tetra Tech will also be developing a set of new tools and systems to complement the research at NCNR.
The GSA One Acquisition Solution for Integrated Services (OASIS) deal is a multiple-award five-year contract which is extendable for another five years. This initiative has been designed to meet the requirements of diverse professional services in the federal agencies. The scope of this deal requires Tetra tech to extend its services to key areas such as general engineering, environment and management consultation. This apart, the company will be providing engineering services specifically for military and aerospace sectors, apart from research and development support in the domain of physical, engineering and life sciences.
Tetra Tech is a leading provider of consultation, engineering, program management, construction and technical services, focusing on resource management and infrastructure. The company has a significant experience in providing diverse professional services for a number of federal agencies including defense, GSA and a range of civil services department. The aforementioned contracts further broaden the company’s contributions to the key federal projects while simultaneously enhancing its access and capacity.
Tetra Tech currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector include Sharps Compliance Corp. (SMED), Middleby Corp. (MIDD) and Xylem Inc. (XYL). All these stocks carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment