MENLO PARK, Calif., April 14 /PRNewswire-FirstCall/ -- Exponent, Inc. (Nasdaq: EXPO) today reported financial results for the first quarter ended March 28, 2008.
For the first quarter of 2008, revenues increased 15% to $56,260,000, as compared to $48,873,000, in the same period of 2007. Revenues before reimbursements grew 15% to $52,022,000, as compared to $45,433,000, last year. Net income was up 26% to $6,347,000, or $0.40 per diluted share, as compared to $5,055,000, or $0.31 per diluted share, in the prior year period. EBITDAS(1) improved 29% to $13,838,000, as compared to $10,754,000, in the first quarter of 2007.
In the first quarter of 2008, Exponent, used $4.8 million to repurchase its common stock, and ended the quarter with $61 million in cash, cash equivalents and short-term investments.
"We are pleased with both the revenue and earnings growth we realized during the quarter," commented Michael R. Gaulke, Chairman and CEO. "We had strong performances in our electrical & semiconductors, thermal sciences, human factors, construction consulting, defense technology development, and mechanics & materials practices, in addition to our health group. In defense technology development we continued the delivery of Rapid Deployment Integrated Surveillance Systems to the U.S. Army and renewed our contract with the Rapid Equipping Force for another year."
"As we move further into 2008, Exponent remains well positioned to
capture new opportunities for growth across our practices. For the full
year, we expect to post high single-digit to low double-digit growth in
revenue before reimbursements as we focus on pursuing strategic
opportunities. Exponent remains uniquely positioned as a leading
|SOURCE Exponent, Inc.|
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