Exhibit 99.1
FOR IMMEDIATE RELEASE
 
 
TETRA TECHNOLOGIES, INC.
REPORTS FOURTH QUARTER 2009 RESULTS

February 26, 2010 (The Woodlands, Texas), TETRA Technologies, Inc. (TETRA or the Company) (NYSE:TTI) today announced fourth quarter 2009 results of $0.33 per share, compared to a loss of $0.79 per share reported in the fourth quarter of 2008. Fourth quarter 2009 results include special credits and charges of $21 million of pretax income, or $0.18 per share after tax, the significant components of which are discussed below. Fourth quarter 2008 results include impairments of $54.4 million associated primarily with goodwill impairment and $45.7 million of impairment charges incurred by Maritech for a total of $100.1 million in pretax charges, or $0.91 per share after tax. All financial data in the text portion of this release are reported in U.S. dollars and are before discontinued operations, and all per share amounts are fully diluted.
 
Consolidated revenues for the quarter ended December 31, 2009 were $211.7 million versus $230.4 million in the fourth quarter of 2008. Total gross profit was $66.6 million in the fourth quarter of 2009 versus a negative $11.2 million in the fourth quarter of 2008. Income before discontinued operations was $25.4 million in the fourth quarter of 2009 versus a loss of $59.3 million in the comparable period of 2008. Net income was $25.8 million in 2009’s fourth quarter versus a loss of $59.9 million in 2008’s fourth quarter.
 
Consolidated results per share from continuing operations for the fourth quarter of 2009 were earnings of $0.33 with 76.4 million weighted average diluted common shares outstanding versus a loss of $0.79 with 74.9 million weighted average diluted common shares outstanding in the fourth quarter of 2008.
 
Divisional pretax earnings (loss) from continuing operations in the fourth quarter of 2009 versus the fourth quarter of 2008 were, Fluids Division: $1.6 million in 4Q 2009 and $(18.9) million in 4Q 2008; Offshore Services: $15.8 million in 4Q 2009 and $(14.2) million in 4Q 2008; Maritech: $31.4 million in 4Q 2009 and $(58.7) million in 4Q 2008; Production Testing: $1.8 million in 4Q 2009 and $9.8 million in 4Q 2008; and, Compressco: $5.7 million in 4Q 2009 and $7.6 million in 4Q 2008.
 
 Financial data aggregating full-year 2009, comparable data for 2008, and financial data relating to net income, as well as discontinued operations, are available in the accompanying financial table in this press release.
 
Stuart M. Brightman, President and Chief Executive Officer, stated, “The fourth quarter of 2009 concluded a year that was highlighted by a record level of cash flow generation, the successful reduction of our long-term debt, and record annual performance by our Offshore Services segment. We ended 2009 with a cash balance of $33.7 million and long-term debt of $310.1 million. This debt position is significantly below our originally budgeted year-end debt of slightly more than $400 million, and reemphasizes our continuing strength in managing our debt position.
 
“During the fourth quarter, our Fluids Division reported a sequential quarterly decrease in revenue and gross margin, the majority of which was driven by slower activity in the Gulf of Mexico related to the timing of several projects in our backlog. In addition, the Fluids Division incurred a fourth quarter impairment of $1.4 million. Our international fluids
 

The following information was filed by Tetra Technologies Inc (TTI) on Friday, February 26, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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