MENLO PARK, Calif., Feb. 19 /PRNewswire-FirstCall/ -- Exponent, Inc.
(Nasdaq: EXPO) today announced that its Board of Directors has authorized an
additional $25.1 million for the repurchase of Exponent's common stock. This
brings the total amount currently available for repurchase to $35 million.
Exponent may pursue such repurchases from time to time in the open market or
privately negotiated transactions in compliance with the Securities and
Exchange Commission's Rule 10b-18.
'We continue to maintain a strong balance sheet and believe that this
action reflects our confidence in the future cash flow of the Company, as well
as our ongoing commitment to build long-term shareholder value,' commented
Michael Gaulke, Chairman and CEO.
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
http://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.
SOURCE Exponent, Inc.
