Exponent, Inc. (NASDAQ: EXPO) reported Q3 EPS of $0.43, $0.02 better than the analyst estimate of $0.41. Revenue for the quarter came in at $74.5 million versus the consensus estimate of $75.59 million.

In a separate release today, Exponent announced that its Board of Directors has authorized an additional $35 million in share repurchases, increasing the Company's current authorization to approximately $50 million. Exponent also announced its quarterly cash dividend of $0.15 to be distributed on December 18, 2015 and its intent to continue to pay quarterly dividends.

"We are pleased to have continued our solid growth of the bottom line in the third quarter, especially considering the impact of a major project wrapping up and a decline in defense technology development, which we previously articulated," commented Dr. Paul Johnston, President and CEO. "During the third quarter, we experienced good demand in both our proactive and reactive services and saw notable performance from our materials, polymer science, biomedical, and vehicle engineering practices, as well as our infrastructure group."

"Year to date, our underlying growth has been in the high single digits but has been offset by a significant decline in defense work and the end of a major project. Based on our year to date results, we are reiterating our expectations for the growth of revenues before reimbursements to be in the low single digits for fiscal year 2015. We expect EBITDA1 margin to be essentially flat with the 25% we achieved in 2014, a slight improvement to our prior outlook."

"Exponent continues to be called upon to investigate the most significant accidents and to support critical programs for companies globally. We are optimistic about our ability to leverage our strong market position for reactive service to grow our client relationships into design consulting, risk management and regulatory support," concluded Dr. Johnston.

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