Exponent, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 28, 2018. For the quarter, the company reported revenues of $95,302,000 against $87,555,000 a year ago. Operating income was $20,594,000 against $19,305,000 a year ago. Income before income taxes was $23,989,000 against $22,030,000 a year ago. Net income was $17,453,000 or $0.32 per diluted share against $14,643,000 or $0.27 per diluted share a year ago. EBITDA was $24,810,000 against $23,225,000 a year ago. EBITDAS was $28,382,000 against $26,766,000 a year ago.

For the nine months, the company reported revenues of $287,380,000 against $259,517,000 a year ago. Operating income was $64,670,000 against $54,256,000 a year ago. Income before income taxes was $71,358,000 against $61,788,000 a year ago. Net income was $56,218,000 or $1.04 per diluted share against $45,010,000 or $0.83 per diluted share a year ago. EBITDA was $74,255,000 against $65,678,000 a year ago. EBITDAS was $87,860,000 against $78,406,000 a year ago. Year-to-date, operating cash flows were $47 million. Capital expenditures were $12.6 million of which $8.5 million went towards the development of new Boston area building, which is scheduled to be completed in the middle of 2019.

The company expects consolidated tax rate to be approximately 26% to 28% in the fourth quarter of 2018.

For the full year of 2018, the company is increasing its revenue growth expectations. The company expects revenues before reimbursements to grow in the high-single digits, as compared to last year, including fourth quarter revenue growth in the middle-single digits. Consolidated income tax rate will be approximately 22% to 23% for 2018, after including the estimated tax adjustments associated with share-based awards. This tax rate range is approximately ten percentage points lower than it would have been due to the new Tax Legislation. EBITDA margin for the full year is expected to increase approximately 50 basis points, from the 26.5% achieved in 2017.  This includes EBITDA margin declining 75 to 125 basis points in the fourth quarter, as compared to the same period a year ago.