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Exponent Reports Third Quarter 2008 Results
Date:10/15/2008

MENLO PARK, Calif., Oct. 15 /PRNewswire-FirstCall/ -- Exponent, Inc. (Nasdaq: EXPO) today reported financial results for the third quarter ended September 26, 2008.

For the third quarter of 2008, total revenues increased 20% to $58,730,000, as compared to $48,904,000, in the same period of 2007. Revenues before reimbursements increased 15% to $51,751,000, as compared to $44,916,000, last year. Net income was up 18% to $5,942,000, or $0.38 per diluted share, as compared to $5,037,000, or $0.31 per diluted share, in the prior year period. EBITDAS(1) improved 21% to $12,430,000, as compared to $10,272,000, in the third quarter of 2007.

For the first nine months of 2008, total revenues increased 15% to $169,946,000, as compared to $148,414,000, in the same period of 2007. Revenues before reimbursements increased 14% to $154,574,000, as compared to $136,165,000, last year. Net income was up 20% to $18,082,000, or $1.13 per diluted share, as compared to $15,094,000, or $0.92 per diluted share, in the prior year period. EBITDAS(1) improved 22% to $38,175,000, as compared to $31,172,000, in the first nine months of 2007.

During the third quarter of 2008, Exponent repurchased $12 million of its common stock, and closed the third quarter with $23 million still available under the current authorization for future repurchases and $52.1 million in cash, cash equivalents and short-term investments.

"We are pleased to report another quarter of solid growth and execution in our business," commented Michael R. Gaulke, Chairman and CEO. "Our electrical, thermal sciences, technology development, human factors, mechanics and materials, and environmental practices performed well in the third quarter, in addition to our health group
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SOURCE Exponent, Inc.
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