We solve our clients\' problems as if they were our own. The DCAA also audits cost-based contracts, including the close-out of those contracts. Generally, our contracts do not require that we provide performance bonds. Acquisitions and Divestitures Acquisitions. These types of backlog reductions could adversely affect our revenue and margins. Our current efforts are focused on three primary areas:•Safe work environment. Tetra Tech invests in the professional development of our associates. Mr. Burdick joined us in April 2003 as Vice President, Management Audit. From December 2005 to September 2009, he served as a Group President. Mr. Hopson holds B.A. and J.D. degrees from Yale University. We are subject to tax laws in the United States and numerous foreign jurisdictions. As a result, pricing pressure may reduce our profit margins on future federal contracts. We could also suffer serious harm to our reputation. However, our ability to make acquisitions is restricted under our credit agreement. These benefits may not be achieved within the anticipated time frame, or at all. Our common stock has previously experienced substantial price volatility.