Exponent Inc. (NASDAQ:EXPO) has reached a new 52-week high, with its shares soaring to $107.31. This milestone reflects the company's consistent growth and strong performance in the market. Over the past year, Exponent has seen a significant increase in its value, with a 1-year change of 12.37%. This upward trend signifies the company's resilience and adaptability in the face of market fluctuations, further solidifying its position as a strong contender in its sector.
In other recent news, Exponent Inc. reported a strong start to 2024, with first-quarter earnings and revenues surpassing expectations. Total revenues increased by 3.3% to $144.9 million, and net revenues saw a 6.6% rise to $137.2 million, with net income reaching $30.1 million. Despite challenges in the consumer electronics sector, Exponent raised its revenue and margin forecasts for the full year of 2024.
In other developments, the company's stockholders ratified the appointment of KPMG LLP as the independent auditors for the fiscal year ending January 3, 2025, and reelected all six director nominees at the annual meeting. Exponent is also considering extending its lease for the Phoenix, Arizona test and engineering center, indicating a commitment to enhancing operational capabilities.
On the downside, the company expects a decline in full-time equivalent employees (FTEs) of 1% to 1.5% in the second quarter, with a year-over-year decline of 8%. Full-year average FTEs are projected to decrease by 5% to 6% year-over-year. These are part of the recent developments within the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.