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Quarterly Financial Information - Unaudited
 12 Months Ended
Sep. 29, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information - Unaudited Quarterly Financial Information – Unaudited
In the opinion of management, the following unaudited quarterly data for the fiscal years ended September 29, 2019 and September 30, 2018 reflect all adjustments necessary for a fair statement of the results of operations.
As a result of the TCJA, we reduced our deferred tax liabilities and recorded a one-time deferred tax benefit of approximately $14.7 million in the first quarter of fiscal 2018. In the third quarter of fiscal 2018, we recognized losses of $3.4 million related to the divestiture of our non-core utility field services operations and other non-core assets. We settled a claim related to a fixed-price construction project completed in fiscal 2014 and recognized a reduction in revenue of $10.6 million and a related loss in operating income of $12.5 million in the fourth quarter of fiscal 2018.
In the second quarter of fiscal 2019, deferred tax valuation allowances of $23.4 million in Australia were released due to sufficient positive evidence obtained. During the fourth quarter of fiscal 2019, we decided to dispose of the turn-key pipeline activities in our CIG segment. As a result, we recorded a $7.8 million goodwill impairment charge and other charges for severance and other disposition costs totaling $10.9 million. Also in the fourth quarter of fiscal 2019, we incurred acquisition and transaction charges of $10.4 million related to the acquisition of WYG.
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(in thousands, except per share data)
Fiscal Year 2019
 

 
 

 
 

 
 

 
 
 
 
 
 
 
 
Revenue
$
717,431

 
$
722,621

 
$
825,793

 
$
841,502

Income from operations
55,711

 
47,545

 
64,841

 
20,665

Net income attributable to Tetra Tech
41,997

 
55,911

 
49,233

 
11,527

Earnings per share attributable to Tetra Tech:
 

 
 

 
 

 
 

Basic
$
0.76

 
$
1.01

 
$
0.90

 
$
0.21

Diluted
$
0.75

 
$
1.00

 
$
0.88

 
$
0.21

 
 
 
 
 
 
 
 
Weighted-average common shares outstanding:
 

 
 

 
 

 
 

Basic
55,390

 
55,143

 
54,819

 
54,617

Diluted
56,366

 
55,985

 
55,768

 
55,618

 
 
 
 
 
 
 
 
Fiscal Year 2018
 

 
 

 
 

 
 

Revenue
$
759,749

 
$
700,262

 
$
764,795

 
$
739,343

Income from operations
48,589

 
42,716

 
55,496

 
43,285

Net income attributable to Tetra Tech
46,034

 
28,725

 
33,322

 
28,802

Earnings per share attributable to Tetra Tech:
 

 
 

 
 

 
 

Basic
$
0.82

 
$
0.51

 
$
0.60

 
$
0.52

Diluted
$
0.81

 
$
0.51

 
$
0.59

 
$
0.51

 
 
 
 
 
 
 
 
Weighted-average common shares outstanding:
 

 
 

 
 

 
 

Basic
55,855

 
55,841

 
55,537

 
55,341

Diluted
56,875

 
56,673

 
56,390

 
56,349