Exponent, Inc. : Exponent Authorizes Additional $35 Million for Stock Repurchase
02/13/2012| 05:26pm US/Eastern
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February 13, 2012
MENLO PARK, Calif., February 13, 2012 - Exponent, Inc.
(Nasdaq: EXPO) today announced that its Board of Directors
has approved an additional $35 million for stock repurchase.
In addition to the $9.4 million still available from a 2011
authorization the total now available for repurchase is $44.4
million. This authorizes Exponent to purchase its common
stock in the open market or privately negotiated transactions
in compliance with Securities and Exchange Commission's Rule
10b-18.
During 2011, Exponent generated $46.6 million in cash flow
from operations, repurchased one million shares of its common
stock for $40.6 million, and closed the year with $109.7
million in cash, cash equivalents and short-term
investments.
About Exponent
Exponent is an engineering and scientific consulting firm
providing solutions to complex problems. Exponent's
multidisciplinary organization of scientists, physicians,
engineers, and business consultants brings together more than
90 technical disciplines to address complicated issues facing
industry and government today. The firm has been best known
for analyzing accidents and failures to determine their
causes, but in recent years it has become more active in
assisting clients with human health, environmental and
engineering issues associated with new products to help
prevent problems in the future.
Exponent may be reached at (888) 656-EXPO, info@exponent.com,
or www.exponent.com.
This news release contains, and incorporates by reference,
certain "forward-looking" statements (as such term
is defined in the Private Securities Litigation Reform 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 thereto under) that are based on the beliefs
of the Company's management, as well as assumptions made
by and information currently available to the Company's
management. Such forward-looking statements are subject to
the safe harbor created by the Private Securities Litigation
Reform Act of 1995. When used in this document and in the
documents incorporated herein by reference, the words
"anticipate," "believe,"
"estimate," "expect" and similar
expressions, as they relate to the Company or its management,
identify such forward-looking statements. Such statements
reflect the current views of the Company or its management
with respect to future events and are subject to certain
risks, uncertainties and assumptions. Should one or more of
these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, the Company's
actual results, performance, or achievements could differ
materially from those expressed in, or implied by, any such
forward-looking statements. Factors that could cause or
contribute to such material differences include the
possibility that the demand for our services may decline as a
result of changes in general and industry specific economic
conditions, the timing of engagements for our services, the
effects of competitive services and pricing, the absence of
backlog related to our business, our ability to attract and
retain key employees, the effect of tort reform and
government regulation on our business, and liabilities
resulting from claims made against us. Additional risks and
uncertainties are discussed in our Annual Report on Form 10-K
under the heading "Risk Factors" and elsewhere in
the report. The inclusion of such forward-looking information
should not be regarded as a representation by the Company or
any other person that the future events, plans, or
expectations contemplated by the Company will be achieved.
The Company undertakes no obligation to release publicly any
updates or revisions to any such forward-looking statements.
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