Maximus Posts Profit In Fiscal 4Q, Plans Unit Sale

RESTON, Va. (AP) — Maximus Inc. said Thursday it moved to a profit in its fiscal fourth quarter, as the consulting, systems and program management services company announced the sale of one of its units.

The company said its net income rose to $8.6 million, or 48 cents per share, for the three months ended Sept. 30 from a loss of $25 million, or $1.35 per share, during the same period a year earlier.

The results exclude the company's Enterprise Resource Planning division, which the company is selling to strengthen its focus on health and human services. Maximus reported the unit as a discontinued operation.

Reston, Va.-based Maximus said its income from continuing operations rose to $14.4 million, or 80 cents per share, from a loss of $9.9 million, or 53 cents per share, a year earlier.

Revenue climbed 9.3 percent to $194.0 million from $177.5 million.

Analysts surveyed by Thomson Reuters, who generally exclude one-time items from their results, expected a profit of 79 cents per share on revenue of $200.5 million.