MENLO PARK, Calif., Oct. 17 /PRNewswire-FirstCall/ -- Exponent, Inc. (Nasdaq: EXPO) today reported financial results for the third quarter and nine months ended September 28, 2007.
For the third quarter of 2007, total revenues increased 13% to $48,904,000, as compared to $43,333,000, in the same period of 2006. Revenues before reimbursements grew 12% to $44,916,000, as compared to $40,049,000, last year. Net income increased 35% to $5,037,000, or $0.31 per diluted share, as compared to $3,743,000, or $0.22 per diluted share, in 2006.
EBITDAS(1) for the third quarter of 2007 increased 32% to $10,272,000, as compared to $7,766,000 in the same period of 2006. Exponent closed the third quarter of 2007 with $52.5 million in cash, cash equivalents and short-term investments. During the quarter, Exponent repurchased $7.7 million of common stock as part of its ongoing repurchase program.
"Our quarter was marked by double-digit revenue growth and improved margins, which contributed to strong bottom line results," commented Michael R. Gaulke, Chairman and CEO. "On the revenue side, we had notable performance in our electrical and semiconductors, thermal sciences, human factors, mechanics and materials, and ecological sciences practices, in addition to our health group. Our improved margins resulted from increased utilization and leverage of our infrastructure."
For the nine months ended September 28, 2007, revenues have grown 17%
to $148,414,000, compared to $127,014,000 in the same period of 2006.
Revenues before reimbursements have increased 15% to $136,165,000, compared
to $118,721,000, last year. Net income increased 35% to $15,094,000, or
$0.92 per diluted share, as compared to $11,215,000, or $0.64
|SOURCE Exponent, Inc.|
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