Exponent Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 28, 2012; Provides Earnings Guidance for the First Quarter and Full Year 2013
January 31, 2013 at 02:39 am IST
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Exponent Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 28, 2012. For the quarter, the company total revenues increased 7% to $72,946,000, as compared to $67,916,000 in the same period one year ago. Net income increased 10% to $8,472,000, or $0.60 per diluted share, as compared to $7,731,000, or $0.54 per diluted share, reported in the same quarter one year ago. EBITDA improved 10% to $15,607,000, as compared to $14,139,000 in the fourth quarter last year. Income before income taxes was $14,438,000 against $13,080,000 a year ago. Operating income was $13,715,000 against $11,193,000 for the same period a year ago. EBITDAS was $18,053,000 against $16,272,000 a year ago. Capital expenditures for the fourth quarter was $1.2 million. Capital expenditures were $1.5 million.
For the year, total revenues increased 7% to $292,653,000, as compared to $272,446,000 in the prior year. Net income improved 14% to $37,225,000, or $2.60 per diluted share, as compared to $32,695,000, or $2.22 per diluted share, reported in the prior year. EBITDA improved 12% to $66,132,000, as compared to $58,994,000, in 2011. Income before income taxes was $61,749,000 against $54,819,000 a year ago. The company generated $48.5 million in cash flow from operations. Operating income was $57,620,000 against $53,460,000 for the same period a year ago. EBITDAS was $78,510,000 against $69,334,000 a year ago. Capital expenditures for the fourth quarter was $1.2 million. Capital expenditures were $4.9 million. The company generated $48.5 million in cash from operations.
The company expects first quarter 2013 net revenues to decrease approximately 2% to 3% and EBITDA margin to be down 400 to 450 basis points as compared to the first quarter of 2012.
For 2013, the company expects its tax rate to be approximately 40.3%. The company expects 2013 revenues before reimbursements to be approximately flat for 2012. And EBITDA margin to be down 250 to 300 basis points.
Exponent, Inc., together with its subsidiaries, is a science and engineering consulting firm. The Company serves clients in chemicals, construction, consumer products, energy, food, beverage and nutrition, government, life sciences, insurance, manufacturing, technology, industrial equipment, transportation, and other sectors. It provides engineering and scientific consulting services to clients around the world. Its service offerings are provided on a project- by-project basis. The Company has two segments: Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment is a service group providing technical consulting in different practices, primarily in engineering. The Environmental and Health segment provides services in the area of environmental, epidemiology and health risk analysis. This segment provides a range of consulting services relating to environmental hazards and risks and the impact on both human health and the environment.
Exponent Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 28, 2012; Provides Earnings Guidance for the First Quarter and Full Year 2013