MENLO PARK, Calif., June 3 Exponent, Inc.(Nasdaq: EXPO) announced today that its Board of Directors has authorized upto an additional $35,000,000 for the repurchase of Exponent's common stock inthe open market or privately negotiated transactions in compliance withSecurities and Exchange Commissions Rule 10b-18.
"This action reflects our confidence in the future cash flow of theCompany, as well as our ongoing commitment to build long-term shareholdervalue," commented Michael Gaulke, Chairman and CEO.
Exponent is an engineering and scientific consulting firm providingsolutions to complex problems. Exponent's multidisciplinary organization ofscientists, physicians, engineers, and business consultants brings togethermore than 90 technical disciplines to address complicated issues facingindustry and government today. The firm is best known for analyzing accidentsand failures to determine their causes, but in recent years it has become moreactive in assisting clients with their new products to help prevent problemsin the future. In addition, Exponent evaluates human health and environmentalconcerns to find cost-effective solutions.
Exponent may be reached at (888) 656-EXPO, email@example.com, orhttp://www.exponent.com.
This news release contains, and incorporates by reference, certain"forward-looking" statements (as such term is defined in the PrivateSecurities Litigation Reform Act of 1995, and the rules promulgated pursuantto the Securities Act of 1933, as amended, and the Securities Exchange Act of1934, as amended thereto under) that are based on the beliefs of the Company'smanagement, as well as assumptions made by and information currently availableto the Company's management. Such forward-looking statements are subject tothe safe harbor created by the Private Securities Litigation Reform Act of1995. When used in this document and in the documents incorporated herein byreference, the words "anticipate," "believe," "estimate," "expect" and similarexpressions, as they relate to the Company or its management, identify suchforward-looking statements. Such statements reflect the current views of theCompany or its management with respect to future events and are subject tocertain risks, uncertainties and assumptions. Should one or more of theserisks or uncertainties materialize, or should underlying assumptions proveincorrect, the Company's actual results, performance, or achievements coulddiffer materially from those expressed in, or implied by, any such forward-looking statements. Factors that could cause or contribute to such materialdifferences include the possibility that the demand for our services maydecline as a result of changes in general and industry specific economicconditions, the timing of engagements for our services, the effects ofcompetitive services and pricing, the absence of backlog related to ourbusiness, our ability to attract and retain key employees, the effect of tortreform and government regulation on our business, and liabilities resultingfrom claims made against us. Additional risks and uncertainties are discussedin our Annual Report on Form 10-K under the heading "Risk Factors" andelsewhere in the report. The inclusion of such forward-looking informationshould not be regarded as a representation by the Company or any other personthat the future events, plans, or expectations contemplated by the Companywill be achieved. The Company undertakes no obligation to release publicly anyupdates or revisions to any such forward-looking statements.
SOURCE Exponent, Inc.