Cushman & Wakefield | Commerce Adds Will Carroll to Seattle Tennant Rep Team Apr 23, 2014 04:06PM

SEATTLE, WA -- (Marketwired) -- 04/23/14 -- The Seattle branch of Cushman & Wakefield | Commerce has added Will Carroll to its roster as an associate. He will primarily conduct tenant representation in Seattle.

A native of Seattle, Carroll is joining Cushman & Wakefield | Commerce via San Francisco where he was a Commercial Real Estate Advisor with Cassidy Turley. Prior to that, he was in Washington D.C. as an Associate in brokerage services with CB Richard Ellis/Trammell Crow Company.

"Will has driven strategic commercial real estate activities in large central business districts on both coasts," said Dave Magee, Senior Director, Managing Broker in the Washington Region for Cushman & Wakefield | Commerce. "We are proud to welcome him to the firm and believe he brings a unique perspective and a level of expertise that will benefit our clients and serve them well."

Carroll graduated from the University of North Carolina at Chapel Hill with a B.A. in Economics and a B.A. in Psychology.

Social Links Connect with Cushman & Wakefield | Commerce:

Twitter: http://twitter.com/comre_ Facebook: https://www.facebook.com/COMRE1 Blog: http://blog.comre.com/ LinkedIn: http://www.linkedin.com/company/commerce-real-estate-solutions?trk=tabs_biz_home

About Cushman & Wakefield | Commerce

Cushman & Wakefield | Commerce, an independently owned and operated member of the Cushman & Wakefield Alliance, has been the leading provider of real estate brokerage services for more than 30 years. Headquartered in Salt Lake City, the firm has offices throughout Utah, Nevada, Idaho and Washington. It offers consulting, brokerage, tenant and landlord representation, property and facilities management, and valuation services to corporations, institutions and investors throughout the Intermountain West and Pacific Northwest. For more information, and for property listings, broker information, market category reports and more visit www.comre.com.

About Cushman & Wakefield

Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world's major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917 it has 243 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management through its wholly-owned subsidiary Cushman & Wakefield Investors. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.

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Source: Cushman & Wakefield | Commerce


Exponent Reports First Quarter Fiscal 2014 Results Apr 23, 2014 04:06PM

MENLO PARK, Calif., April 23, 2014 (GLOBE NEWSWIRE) -- Exponent, Inc. (Nasdaq: EXPO) today reported financial results for the first quarter ended April 4, 2014.

For the first quarter of 2014, revenues before reimbursements increased 6% to $72,967,000, as compared to $68,992,000 in the same period of 2013. Total revenues were $75,962,000, as compared to $72,660,000 in the same period one year ago.  

Net income for the first quarter increased 15% to $9,154,000, or $0.66 per diluted share, as compared to $7,976,000, or $0.56 per diluted share, in the same period of 2013. For the quarter EBITDA1 increased 14% to $16,643,000, as compared to $14,609,000 in the same period one year ago.  

During the first quarter of 2014, Exponent repurchased $7.6 million of common stock, and paid dividends of $3.3 million. The Company closed the quarter with $137.5 million in cash, cash equivalents and short-term investments.

"We are pleased to have started the year with solid revenue growth, improved margins and strong earnings. We also continued to buy back stock and distribute dividends to shareholders," commented Dr. Paul Johnston, President and CEO. "In the quarter, we had notable performances from our polymer science, biomedical, environmental and construction consulting practices.  

"For 2014 we continue to expect growth in revenues before reimbursements to be in the low single digits and EBITDA1 margin to be down approximately 100 basis points from 24.6% in 2013. As a reminder, fiscal 2013 included an extra week of activity. For the second quarter and full year, growth in revenues before reimbursements will be reduced because of a step-down in a few major assignments, lower defense spending, and $1.4 million of revenues recognized upon payment in 2013 for work performed in the prior year. Since our second quarter ends on July 4th utilization for the quarter will be further impacted by the additional holiday and associated vacations.  

"We remain optimistic about our long-term ability to build upon our differentiated market position as a leading multi-disciplinary engineering and scientific consulting firm," concluded Dr. Johnston.

Today's Conference Call Information

Exponent will discuss its financial results in more detail on a conference call today, Wednesday, April 23, 2014, starting at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time. The audio of the conference call is available by dialing 877-941-2068 or 480-629-9712. A live webcast of the call will be available on the Investor Relations section of the Company's website at www.exponent.com/investors. For those unable to listen to the live webcast, a replay of the call will also be available on the Exponent web site, or by dialing 800-406-7325 or 303-590-3030, and entering passcode 4677897#.

About Exponent

Exponent is an engineering and scientific consulting firm providing solutions to complex problems. Exponent's multidisciplinary organization of scientists, physicians, engineers, and business consultants brings together more than 90 technical disciplines to address complicated issues facing industry and government today. The firm has been best known for analyzing accidents and failures to determine their causes, but in recent years it has become more active in assisting clients with human health, environmental and engineering issues associated with new products to help prevent problems in the future. Exponent may be reached at (888) 656-EXPO, info@exponent.com, or www.exponent.com.

This news release contains, and incorporates by reference, certain "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995, and the rules promulgated pursuant to the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended thereto under) that are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Such forward-looking statements are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. When used in this document and in the documents incorporated herein by reference, the words "anticipate," "believe," "estimate," "expect" and similar expressions, as they relate to the Company or its management, identify such forward-looking statements. Such statements reflect the current views of the Company or its management with respect to future events and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the Company's actual results, performance, or achievements could differ materially from those expressed in, or implied by, any such forward-looking statements. Factors that could cause or contribute to such material differences include the possibility that the demand for our services may decline as a result of changes in general and industry specific economic conditions, the timing of engagements for our services, the effects of competitive services and pricing, the absence of backlog related to our business, our ability to attract and retain key employees, the effect of tort reform and government regulation on our business, and liabilities resulting from claims made against us. Additional risks and uncertainties are discussed in our Annual Report on Form 10-K under the heading "Risk Factors" and elsewhere in the report. The inclusion of such forward-looking information should not be regarded as a representation by the Company or any other person that the future events, plans, or expectations contemplated by the Company will be achieved. The Company undertakes no obligation to release publicly any updates or revisions to any such forward-looking statements.

1 EBITDA is a non-GAAP financial measure defined by the Company as net income before income taxes, interest income, depreciation and amortization. EBITDAS is a non-GAAP financial measure defined by the Company as EBITDA before stock-based compensation. The Company regards EBITDA and EBITDAS as useful measures of operating performance and cash flow to complement operating income, net income and other GAAP financial performance measures. Additionally, management believes that EBITDA and EBITDAS provide meaningful comparisons of past, present and future operating results. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. These measures, however, should be considered in addition to, and not as a substitute or superior to, operating income, cash flows, or other measures of financial performance prepared in accordance with GAAP. A reconciliation of the measures to GAAP is set forth below.

EXPONENT, INC. 
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
For the Quarters Ended April 4, 2014 and March 29, 2013
(unaudited)
(in thousands, except per share data)
   
   Quarters Ended 
   April 4,   March 29, 
   2014   2013 
     
Revenues    
Revenues before reimbursements  $ 72,967  $ 68,992
Reimbursements  2,995  3,668
     
Revenues  75,962  72,660
     
Operating expenses    
Compensation and related expenses   48,858  48,562
Other operating expenses  6,317  6,147
Reimbursable expenses  2,995  3,668
General and administrative expenses   3,698  3,432
     
   61,868  61,809
     
Operating income   14,094  10,851
     
Other income     
Interest income, net  44  45
Miscellaneous income, net  1,227  2,609
   1,271  2,654
     
Income before income taxes  15,365  13,505
     
Income taxes  6,211  5,529
     
Net income   $ 9,154  $ 7,976
     
     
Net income per share:    
Basic  $ 0.68  $ 0.58
Diluted  $ 0.66  $ 0.56
     
Shares used in per share computations:    
Basic  13,537  13,667
Diluted  13,940  14,125
 
EXPONENT, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
April 4, 2014 and January 3, 2014
(unaudited)
(in thousands)
     
   April 4,   January 3, 
   2014   2014 
Assets    
Current assets:    
Cash and cash equivalents  $ 105,621  $ 122,948
Short-term investments  31,831  33,171
Accounts receivable, net  84,946  76,980
Prepaid expenses and other assets  16,835  10,450
Deferred income taxes  10,408  8,135
Total current assets  249,641  251,684
Property, equipment and leasehold improvements, net  28,314  28,721
Goodwill  8,607  8,607
Other assets  55,103  55,154
   $ 341,665  $ 344,166
     
Liabilities and Stockholders' Equity    
Current liabilities:    
Accounts payable and accrued liabilities  $ 12,533  $ 8,442
Accrued payroll and employee benefits  42,336  56,934
Deferred revenues  7,204  6,771
Total current liabilities  62,073  72,147
Other liabilities  35,766  34,628
Deferred rent  2,233  2,332
Total liabilities  100,072  109,107
     
Stockholders' equity:    
Common stock  16  16
Additional paid-in capital  155,690  141,250
Accumulated other comprehensive income  175  109
Retained earnings  225,592  226,040
Treasury stock, at cost  (139,880)  (132,356)
Total stockholders' equity  241,593  235,059
   $ 341,665  $ 344,166
 
EXPONENT, INC. 
EBITDA and EBITDAS (1) 
For the Quarters Ended April 4, 2014 and March 29, 2013
(unaudited)
(in thousands)
   
   Quarters Ended 
   April 4,   March 29, 
   2014   2013 
     
Net Income  $ 9,154  $ 7,976
     
Add back (subtract):    
     
Income taxes  6,211  5,529
Interest income, net  (44)  (45)
Depreciation and amortization  1,322  1,149
     
EBITDA (1)  16,643  14,609
     
Stock-based compensation  5,293  5,291
     
EBITDAS (1)  $ 21,936  $ 19,900
     
(1) EBITDA is a non-GAAP financial measure defined by the Company as net income before income taxes, interest income, depreciation and amortization. EBITDAS is a non-GAAP financial measure defined by the Company as EBITDA before stock-based compensation. The Company regards EBITDA and EBITDAS as useful measures of operating performance and cash flow to compliment operating income, net income and other GAAP financial performance measures. Additionally, management believes that EBITDA and EBITDAS provide meaningful comparisons of past, present and future operating results. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. These measures, however, should be considered in addition to, and not as a substitute or superior to, operating income, cash flows, or other measures of financial performance prepared in accordance with GAAP.
Source: Exponent, Inc.


Solidoodle Announces Solidoodle U for Teachers Apr 23, 2014 04:06PM

Brooklyn, NY (PRWEB) April 23, 2014

Solidoodle is proud to announce Solidoodle U, a comprehensive program just for teachers. Solidoodle U provides schools with all they need to bring 3D printing into the classroom, with affordable education packages and free materials to get students 3D printing right away.

"3D printing lets a student develop an idea from initial concept through design and iteration phases to final tested parts, all from a computer," says Solidoodle CEO Sam Cervantes. "Teachers have been some of our earliest customers because they recognize our products as powerful tools for hands-on learning across a broad range of subject areas, from art and design to science and engineering. Solidoodle U expands our products' accessibility for the classroom with even more affordable options and new resources developed for educators."

Solidoodle will offer two education packages for its 3rd and 4th Generation models, its most popular 3D printers, as part of the Solidoodle U program. The Solidoodle 4 package includes the company's newest 3D printer featuring a sleek enclosure and new extruder design with two 2-lbs spools of filament, a total $1085 value, for just $899. The Solidoodle 3 package includes Solidoodle's open-design printer with one 2-lbs spool of filament, a total $842 value, for just $699.

Solidoodle U also offers educators free access to its growing online curriculum library and will utilize the company's file-sharing website Solidoodles.com to host 3D models and allow educators to share their own corresponding lesson plans with the online educational community.

For more information about Solidoodle U, visit Solidoodle.com/education.

About Solidoodle

Solidoodle, founded in 2011 by aerospace engineer and 3D printing industry-veteran Sam Cervantes, builds affordable and easy-to-use 3D printers for both professional and consumer use. Built in Brooklyn, New York, more than 10,000 Solidoodle 3D printers have sold to customers around the world. For more information about Solidoodle, please visit Solidoodle.com.

Read the full story at http://www.prweb.com/releases/Solidoodle/140423/prweb11789300.htm


Time Warner Named to DiversityInc’s Top 50 Companies for Diversity List for Fifth Consecutive Year Apr 23, 2014 04:06PM

Recognized for Innovative Diversity Solutions and Talent Development

Ranked No. 4 on DiversityInc’s 2014 Top Companies for LGBT Employees

NEW YORK--(BUSINESS WIRE)-- DiversityInc last night announced that Time Warner was named to its annual “Top 50 Companies for Diversity” list for the fifth consecutive year and to its “Top 10 Companies for LGBT Employees” list for the second consecutive year. The company was recognized for promoting diversity through innovative initiatives such as its cross-cultural mentoring program and for making impressive strides in developing a talent pipeline. Time Warner was named DiversityInc’s 2013 “Top Company for Executive Development.”

“At Time Warner, advancing diversity in both our workforce and the content we create and share is a business priority,” said Jeff Bewkes, Chairman and CEO, Time Warner Inc. “Without cultivating new voices and tapping into diverse talent, we would not be able to fulfill our mission of delivering great storytelling to an increasingly global and multicultural audience.”

DiversityInc highlighted Time Warner’s strong leadership efforts to promote diversity including Bewkes’ implementation of Diversity Performance Goals in which 30% of executive compensation is tied to diversity. Time Warner’s managers actively participate in cross-cultural mentoring and over 30% of employees participate in the company’s Business Resource Groups which are dedicated to talent development, community outreach and diversity training.

“Our success as a business is directly correlated to our ongoing efforts to attract diverse talent and maintain a progressive and inclusive environment where employees can thrive, regardless of gender, race, ethnicity or sexual orientation,” said Lisa Garcia Quiroz, Chief Diversity Officer and Senior Vice President, Time Warner Inc. “Time Warner’s diverse workplace strengthens our ability to create content that resonates with audiences across the globe.”

Time Warner ranked no. 4 on DiversityInc’s 2014 “Top 10 Companies for LGBT Employees” list and no. 7 on the list in 2013. Last year, Time Warner Inc. became the first major media and entertainment company to implement tax equalization on benefits for employees in same-sex marriages, or in same-sex partnerships in states where same-sex marriage is not legal.

About Time Warner Inc.

Time Warner Inc., a global leader in media and entertainment with businesses in television networks, film and TV entertainment and publishing, uses its industry-leading operating scale and brands to create, package and deliver high-quality content worldwide through multiple distribution outlets.

Time Warner Inc.Summer Wilkie 212-484-7543Summer.Wilkie@timewarner.com

Source: Time Warner Inc.


Sip Back and Relax: Enjoy the Cool New Fruity Flavors of Krispy Kreme Chillers Apr 23, 2014 04:05PM

Winston, Salem, NC (PRWEB) April 23, 2014

Sip Back and Relax! Enjoy the Cool New Fruity Flavors of Krispy Kreme Chillers

New Krispy Kreme Tropical Chillers Now Available at Participating Locations

There's nothing like the sweet taste of cool and juicy fruit flavors in an icy cold beverage. Give your taste buds a chill this season with the refreshingly sweet, tart and tangy tastes of frozen Krispy Kreme Chillers® in new Tropical Fruit and infused Lemonade flavors. Krispy Kreme Tropical Chillers are available now at participating Krispy Kreme US and Canadian locations.
Sip back and enjoy the flavors of summer with these delicious new varieties. Product and availability may vary by market. While supplies last.

   •  NEW Tropical Chiller- A refreshing blend of mango and passion fruit flavors. Available now through May 18th.
   •  NEW Frozen Lemonade Infusions- Made with real lemons, sweetened with only cane sugar and served icy cold. Infuse it with a shot of Strawberry or Mango for a delicious new twist on this classic treat. Available starting May 19th.

Krispy Kreme Chillers are also available in Very Berry, Orange You Glad®, Berries and KREME™, and Oranges and KREME™ varieties. Try one today at a participating Krispy Kreme location near you.

Get connected to Krispy Kreme and stay up to date on the latest offerings and promotions at KrispyKreme.com, http://www.hotlightapp.com, foursquare and KrispyKremeDoughnuts on YouTube.

About Krispy Kreme:

Krispy Kreme (NYSE: KKD) is an international retailer of premium-quality sweet treats, including its signature Original Glazed® doughnut. Headquartered in Winston-Salem, N.C., the Company has offered the highest-quality doughnuts and great-tasting coffee since it was founded in 1937. Krispy Kreme is proud of its Fundraising program, which for decades has helped non-profit organizations raise millions of dollars in needed funds. Today, Krispy Kreme can be found in over 800 locations in more than 20 countries around the world. Connect with Krispy Kreme at http://www.krispykreme.com.

###

Read the full story at http://www.prweb.com/releases/2014/04/prweb11789886.htm


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