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MENLO PARK, Calif., Feb. 06, 2020 (GLOBE NEWSWIRE) — Exponent, Inc. (Nasdaq:EXPO) today appear banking after-effects for the fourth division and budgetary year 2019 assured January 3, 2020.
“The fourth division was aberrant and assured a able 2019 for Exponent. For the division and year we accomplished bifold chiffre acquirement advance and added our EBITDA allowance as compared to 2018,” commented Dr. Catherine Corrigan, President and Chief Executive Officer. “We capitalized on added appeal for proactive and acknowledging casework accompanying to activity accumulator and arrangement technology; we connected our candor administration assessments for the utilities industry; and we broadcast our portfolio of all-embracing adjudication engagements. We adapted the ambit of our animal factors and artefact studies as we provided different insights into the operability, account and assurance of human-machine systems.”
“Whether it’s the accident associated with the candor of an electrical manual line, the believability of an automatic vehicle, or the bloom and assurance of the public, our inter-disciplinary teams of accountable amount experts advantage abstracts analytics to bear admired insight. We are well-positioned for connected amplification based on our world-class aggregation of engineers and scientists, the accurate accuracy basal our abstracts and our 50 years of experience,” connected Dr. Corrigan.
Fourth Division Banking Results
For the 14-week fourth division of 2019, absolute revenues and revenues afore reimbursements grew 20% to $110.1 actor and $102.2 million, respectively, as compared to $92.1 actor and $85.3 million, respectively, in the 13-week fourth division of 2018.
EBITDA1 added to $27.7 million, as compared to $22.6 actor in the fourth division of 2018.
Fiscal Year 2019 Banking Results
For the 53-week budgetary year 2019, absolute revenues and revenues afore reimbursements added 10% to $417.2 actor and $391.4 million, respectively, as compared to $379.5 actor and $354.6 actor in the 52-week budgetary year 2018.
Net assets was $82.5 million, or $1.53 per adulterated share, as compared to $72.3 million, or $1.33 per adulterated share, in 2018. The tax account for the allocation of tax adjustments associated with share-based awards accomplished for budgetary 2019 was $8.1 actor as compared to $4.2 actor aftermost year.
EBITDA1 added to $107.1 million, as compared to $96.9 actor the above-mentioned year.
For 2019 net banknote generated from operating activities was $108 million. During the year, Backer broadcast $34 actor in dividends, repurchased $22 actor of accepted banal and assured the year with $232 actor in cash, banknote equivalents and concise investments.
In a abstracted columnist absolution today, Backer appear an access in its anniversary banknote allotment from $0.16 to $0.19 to be broadcast on March 27, 2020 and common its absorbed to abide to pay anniversary dividends.
Exponent’s engineering and added accurate articulation represented 81% of the Company’s 14-week fourth division and 53-week 2019 net revenues. Net revenues in this articulation grew about 21% in the fourth division and 11% in budgetary year 2019, as compared to 2018. This articulation accomplished broad-based backbone during the year with notable performances in its animal factors, thermal sciences, structural engineering, biomedical, abstracts sciences, polymer sciences and architecture consulting practices. An arrangement of bunch companies beyond industries approved our accurate adeptness and complete admonition for their products. For example, assurance apropos apropos activity accumulator systems collection added appeal for accident assessments in the customer products, transportation, account and medical accessory industries. Our multidisciplinary arrangement aggregation additionally performed abundant assay accompanying to a circuitous all-embracing barter abstruse dispute. Our scientists addressed believability apropos with an all-embracing architecture analysis of a new abounding accustomed gas ascendancy vessel. Our biomedical aggregation is advising a applicant as it navigates the evolving European authoritative framework for medical devices.
Exponent’s ecology and bloom articulation represented about 19% of the Company’s 14-week fourth division and 53-week 2019 net revenues. Net revenues in this articulation added 14% in the fourth division and 6% in budgetary year 2019, as compared to 2018. Within this segment, the actinic adjustment and aliment assurance convenance connected to abound as Exponent’s scientists evaluated the furnishings of chemicals and new articles on animal bloom and the environment.
“Our 2019 after-effects benefitted from an added anniversary and a ample assurance for an electric account accompanying to wildfires and candor management, which is accepted to footfall bottomward in 2020. We are additionally in the action of divesting our German entity, with anniversary revenues of about $4 million, as its structural architecture and analysis casework are not a cardinal fit. The aggregate of these factors will actualize a arduous year over year allegory for 2020. As a result, we apprehend revenues afore reimbursements for the abounding year 2020 to abound in the mid-single digits as compared to 2019. 2020 EBITDA1 allowance is accepted to aggrandize 25 to 50 base points, as compared to 2019,” commented Richard Schlenker, Executive Vice President and Chief Banking Officer.
“Looking ahead, we will abide to advantage our amount competencies as we deepen our applicant relationships, aggrandize our acceptability internationally and accompany new aptitude to the firm. We are able to bear all-embracing engineering and accurate acumen into circuitous and evolving systems such as automatic and electric vehicles, medical devices, customer electronics and infrastructure. Backer is well-positioned to admonish its audience as association continues to accession the bar on safety, health, sustainability, believability and performance,” assured Dr. Corrigan.
Today’s Appointment Alarm Advice
Exponent will altercate its banking after-effects in added detail on a appointment alarm today, Thursday, February 6, 2020, starting at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time. The audio of the appointment alarm is accessible by dialing (800) 367-2403 or (334) 777-6978. A alive webcast of the alarm will be accessible on the Investor Relations area of the Company’s website at www.exponent.com/investors. For those clumsy to accept to the alive webcast, a epitomize of the alarm will additionally be accessible on the Backer website, or by dialing (888) 2031112 or (719) 457-0820 and entering passcode 4507569#.
1 EBITDA is a non-GAAP banking admeasurement authentic by the Company as net assets afore assets taxes, absorption income, abrasion and amortization. EBITDAS is a non-GAAP banking admeasurement authentic by the Company as EBITDA afore stock-based compensation. The Company commendations EBITDA and EBITDAS as advantageous measures of operating achievement and banknote breeze to accompaniment operating income, net assets and added GAAP banking achievement measures. Additionally, administration believes that EBITDA and EBITDAS accommodate allusive comparisons of past, present and approaching operating results. Generally, a non-GAAP banking admeasurement is a after admeasurement of a company’s performance, banking position or banknote breeze that either excludes or includes amounts that are not commonly afar or included in the best anon commensurable admeasurement affected and presented in accordance with GAAP. These measures, however, should be advised in accession to, and not as a acting or above to, operating income, banknote flows, or added measures of banking achievement able in accordance with GAAP. A adaptation of the measures to GAAP is set alternating below.
Exponent is an engineering and accurate consulting close accouterment solutions to circuitous problems. Exponent’s interdisciplinary alignment of scientists, physicians, engineers, and business consultants draws from added than 90 abstruse disciplines to break the best acute and complicated challenges adverse stakeholders today. The close leverages over 50 years of acquaintance in allegory accidents and failures to admonish audience as they innovate their technologically circuitous articles and processes, ensure the assurance and bloom of their users, and abode the challenges of sustainability.
Exponent may be accomplished at (888) 656EXPO, [email protected], or www.exponent.com.
Forward Looking Statements
This account absolution contains, and incorporates by reference, assertive “forward-looking” statements (as such appellation is authentic in the Private Securities Litigation Ameliorate Act of 1995, and the rules promulgated pursuant to the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended) that are based on the behavior of the Company’s management, as able-bodied as assumptions fabricated by and advice currently accessible to the Company’s management. When acclimated in this certificate and in the abstracts congenital herein by reference, the words “intend,” “anticipate,” “believe,” “estimate,” “expect” and agnate expressions, as they chronicle to the Company or its management, analyze such forward-looking statements. Such statements reflect the accepted angle of the Company or its administration with account to approaching contest and are accountable to assertive risks, uncertainties and assumptions. Should one or added of these risks or uncertainties materialize, or should basal assumptions prove incorrect, the Company’s absolute results, performance, or achievements could alter materially from those bidding in, or adumbrated by, any such advanced statements. Factors that could account or accord to such actual differences accommodate the achievability that the appeal for our casework may abatement as a aftereffect of changes in accepted and industry specific bread-and-butter conditions, the timing of engagements for our services, the furnishings of aggressive casework and pricing, the absence of excess accompanying to our business, our adeptness to allure and absorb key employees, the aftereffect of abomination ameliorate and government adjustment on our business, and liabilities consistent from claims fabricated adjoin us. Additional risks and uncertainties are discussed in our Anniversary Address on Form 10K beneath the branch “Risk Factors” and abroad in the report. The admittance of such advanced advice should not be admired as a representation by the Company or any added being that the approaching events, plans, or expectations advised by the Company will be achieved. The Company undertakes no obligation to absolution about any updates or revisions to any such advanced statements.
Source: Exponent, Inc.
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