MENLO PARK, Calif., July 22 /PRNewswire-FirstCall/ -- Exponent, Inc. (Nasdaq: EXPO) today reported financial results for the second quarter ended July 3, 2009.
For the second quarter of 2009, total revenues increased 11% to $60,862,000, as compared to $54,956,000 in the second quarter of last year. Revenues before reimbursements increased 3% to $52,429,000 as compared to $50,801,000 in the second quarter of 2008. Net income was $6,025,000, or $0.40 per diluted share, as compared to $5,793,000, or $0.36 per diluted share, in the prior year period. EBITDA(1) increased to $10,938,000, as compared to $10,148,000, in the second quarter of 2008.
For the first half of 2009, total revenues increased 8% to $120,658,000, as compared to $111,216,000, in the same period of last year. Revenues before reimbursements increased 4% to $107,360,000, as compared to $102,823,000, in the same period of 2008. Net income was $11,783,000 or $0.79 per diluted share, as compared to $12,140,000, or $0.76 per diluted share, in the prior year period. EBITDA(1) in the first half of 2009 improved to $21,350,000, as compared to $21,119,000, in the first half of 2008.
"We are pleased with our overall performance in the second quarter, especially considering the general macroeconomic climate," commented Paul R. Johnston, President and CEO. "We continued to increase revenues and effectively manage our cost structure. We had good performances in our defense technology development and electrical practices, as well as our health and environmental science groups.
"For the second half of 2009, we believe the demand for our services will remain relatively resilient in spite of the economic downturn. However, due to the tight corporate spending environment we are cautious about seeing a
|SOURCE Exponent, Inc.|
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