Exponent Inc. (EXPO, Financial) filed Quarterly Report for the period ended 2010-04-02.
Exponent Inc. has a market cap of $407.2 million; its shares were traded at around $29.79 with a P/E ratio of 19.7 and P/S ratio of 1.8. Exponent Inc. had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated Exponent Inc. the business predictability rank of 4.5-star.EXPO is in the portfolios of Chuck Royce of Royce& Associates, Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
The increase in revenues for our environmental and health segment was driven by an increase in billable hours and higher billing rates. The increase in billable hours was primarily due to an increase in activity in our Center for Chemical Registration & Food Safety. During the first quarter of 2010, billable hours for this segment increased by 1.3% to 60,336 as compared to 59,591 during the same period last year. Technical full-time equivalents increased by 1.2% to 173 from 171 for the same period last year due to our recruiting and retention efforts. Utilization was 67% for the first quarter of 2010 and 2009.
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Exponent Inc. has a market cap of $407.2 million; its shares were traded at around $29.79 with a P/E ratio of 19.7 and P/S ratio of 1.8. Exponent Inc. had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated Exponent Inc. the business predictability rank of 4.5-star.EXPO is in the portfolios of Chuck Royce of Royce& Associates, Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
During the first quarter of 2010, we had a 0.7% decrease in revenues and a 0.5% increase in revenues before reimbursements as compared to the same period last year. Our consolidated revenue decline was primarily due to fewer billable hours and a decrease in product sales to the United States Army in our Technology Development Practice, partially offset by higher billing rates. Billable hours for the first quarter of 2010 decreased 2.6% to 228,027 as compared to 234,022 during the same period last year. Technical full-time equivalents decreased 3.3% to 621 during the first quarter of 2010 as compared to 642 during the same period last year. Utilization increased to 71% for the first quarter of 2010 as compared to 70% during the same period last year. The decrease in billable hours was due to the general macroeconomic climate, a decrease in technical full-time equivalent employees, and a decrease in activity in our Technology Development Practice. The increase in utilization was due to our management of headcount to align resources with anticipated demand. Product sales in our Technology Development Practice decreased 43% to $508,000 for the first quarter of 2010 as compared to $890,000 during the same period last year. This decrease in product sales was primarily due to a decrease in sales of surveillance systems to the United States Army.The increase in revenues for our environmental and health segment was driven by an increase in billable hours and higher billing rates. The increase in billable hours was primarily due to an increase in activity in our Center for Chemical Registration & Food Safety. During the first quarter of 2010, billable hours for this segment increased by 1.3% to 60,336 as compared to 59,591 during the same period last year. Technical full-time equivalents increased by 1.2% to 173 from 171 for the same period last year due to our recruiting and retention efforts. Utilization was 67% for the first quarter of 2010 and 2009.
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