10-Q Filing

EXPONENT INC CIK: 851520 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001144204-14-029158`
Period End Date	20140331
Filing Date	20140509
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	expo-20140404.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 40 Cash Flow Statement 58 Comprehensive Income 8

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for contract losses and doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.77M	USD	Point-in-time
Accounts receivable, allowance for contract losses and doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.75M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$122.95M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$105.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$101.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$113.27M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.43M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$31.83M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.43M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$33.17M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $2,753 and $2,771 at April 4, 2014 and January 3, 2014, respectively	`AccountsReceivableNetCurrent`	$84.95M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $2,753 and $2,771 at April 4, 2014 and January 3, 2014, respectively	`AccountsReceivableNetCurrent`	$76.98M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.36M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.29M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.84M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.45M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$10.41M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$8.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$251.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$249.64M	USD	Point-in-time
Property, equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$28.31M	USD	Point-in-time
Property, equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$28.72M	USD	Point-in-time
Goodwill	`Goodwill`	$8.61M	USD	Point-in-time
Goodwill	`Goodwill`	$8.61M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$21.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$22.07M	USD	Point-in-time
Deferred compensation plan assets	`DeferredCompensationPlanAssets`	$33.50M	USD	Point-in-time
Deferred compensation plan assets	`DeferredCompensationPlanAssets`	$32.77M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$593.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$551.00K	USD	Point-in-time
Total assets	`Assets`	$344.17M	USD	Point-in-time
Total assets	`Assets`	$341.99M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.44M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$12.86M	USD	Point-in-time
Accrued payroll and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$56.93M	USD	Point-in-time
Accrued payroll and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$42.34M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$6.77M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$7.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$72.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$62.40M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.18M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.25M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$33.45M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$34.52M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$2.33M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$2.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$109.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$100.40M	USD	Point-in-time
Common stock, $0.001 par value; 100,000 shares authorized; 16,427 shares issued at April 4, 2014 and January 3, 2014	`CommonStockValue`	$16.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000 shares authorized; 16,427 shares issued at April 4, 2014 and January 3, 2014	`CommonStockValue`	$16.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$141.25M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$155.69M	USD	Point-in-time
Investment securities, available for sale	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$24.00K	USD	Point-in-time
Investment securities, available for sale	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$10.00K	USD	Point-in-time
Foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$99.00K	USD	Point-in-time
Foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$151.00K	USD	Point-in-time
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$109.00K	USD	Point-in-time
Accumulated Other Comprehensive Income (Loss), Net of Tax, Total	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$175.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$225.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$226.04M	USD	Point-in-time
Treasury stock, at cost; 3,293 and 3,363 shares held at April 4, 2014 and January 3, 2014, respectively	`TreasuryStockValue`	$139.88M	USD	Point-in-time
Treasury stock, at cost; 3,293 and 3,363 shares held at April 4, 2014 and January 3, 2014, respectively	`TreasuryStockValue`	$132.36M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$235.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$241.59M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$341.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$344.17M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues before reimbursements	`SalesRevenueServicesNet`	$72.97M	USD	1 Quarter
Revenues before reimbursements	`SalesRevenueServicesNet`	$68.99M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$3.00M	USD	1 Quarter
Reimbursements	`ReimbursementRevenue`	$3.67M	USD	1 Quarter
Revenues	`Revenues`	$72.66M	USD	1 Quarter
Revenues	`Revenues`	$75.96M	USD	1 Quarter
Compensation and related expenses	`LaborAndRelatedExpense`	$48.56M	USD	1 Quarter
Compensation and related expenses	`LaborAndRelatedExpense`	$48.86M	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$6.32M	USD	1 Quarter
Other operating expenses	`OtherCostAndExpenseOperating`	$6.15M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$3.00M	USD	1 Quarter
Reimbursable expenses	`CostOfReimbursableExpense`	$3.67M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.43M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$61.81M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$61.87M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$14.09M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.85M	USD	1 Quarter
Interest income, net	`InvestmentIncomeNet`	$45.00K	USD	1 Quarter
Interest income, net	`InvestmentIncomeNet`	$44.00K	USD	1 Quarter
Miscellaneous income, net	`OtherNonoperatingIncomeExpense`	$1.23M	USD	1 Quarter
Miscellaneous income, net	`OtherNonoperatingIncomeExpense`	$2.61M	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$2.65M	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$1.27M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.37M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.51M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$5.53M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$6.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.98M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.68	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.58	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.66	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.56	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	13.67M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	13.54M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.12M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.94M	shares	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.25	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.15	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.98M	USD	1 Quarter
Depreciation and amortization of property, equipment and leasehold improvements	`DepreciationAndAmortization`	$1.32M	USD	1 Quarter
Depreciation and amortization of property, equipment and leasehold improvements	`DepreciationAndAmortization`	$1.15M	USD	1 Quarter
Amortization of premiums and accretion of discounts on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-225.00K	USD	1 Quarter
Amortization of premiums and accretion of discounts on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-79.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-99.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$61.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$135.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$249.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.29M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$5.29M	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$-1.25M	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$-3.32M	USD	1 Quarter
Excess tax benefit from equity awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$3.77M	USD	1 Quarter
Excess tax benefit from equity awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$4.50M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.67M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.21M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.12M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.99M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.17M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$240.00K	USD	1 Quarter
Accrued payroll and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-9.84M	USD	1 Quarter
Accrued payroll and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-15.40M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$433.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-1.24M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-6.12M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.18M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.96M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$915.00K	USD	1 Quarter
Maturity of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	$11.24M	USD	1 Quarter
Maturity of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	$1.14M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$9.28M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$225.00K	USD	1 Quarter
Excess tax benefit from equity awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$3.77M	USD	1 Quarter
Excess tax benefit from equity awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$4.50M	USD	1 Quarter
Payroll taxes for restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$6.12M	USD	1 Quarter
Payroll taxes for restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$6.27M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$11.49M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$6.83M	USD	1 Quarter
Exercise of share-based payment awards	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$329.00K	USD	1 Quarter
Exercise of share-based payment awards	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$612.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$3.31M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$1.97M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-15.19M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-11.58M	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-674.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$148.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.33M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.77M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$122.95M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$105.62M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$101.50M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$113.27M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$122.95M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$105.62M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$101.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$113.27M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.98M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$52.00K	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-461.00K	USD	1 Quarter
Unrealized gains (losses) on available for sale investment securities arising during the period, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$14.00K	USD	1 Quarter
Unrealized gains (losses) on available for sale investment securities arising during the period, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-12.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.22M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.50M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.