This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MAXIMUS Reports Fourth Quarter And Full Year Financial Results For Fiscal 2013

MAXIMUS (NYSE: MMS), a leading provider of government services worldwide, today reported financial results for its fourth quarter and fiscal year ended September 30, 2013.

Highlights for the fourth quarter and the full fiscal year include:

  • Fourth quarter revenue grew 28% to $384.3 million; GAAP diluted earnings per share from continuing operations increased 50% to $0.51; and adjusted diluted earnings per share increased 38% to $0.51.
  • Fiscal 2013 revenue grew 27% to $1.33 billion; GAAP diluted earnings per share from continuing operations increased 54% to $1.68; and adjusted diluted earnings per share from continuing operations increased 36% to $1.60.
  • Cash and cash equivalents totaled $125.6 million at September 30, 2013.
  • Signed contract awards reached a record level at $1.9 billion for fiscal 2013 and the sales pipeline remained strong at $2.4 billion at September 30, 2013.

For the fourth quarter of fiscal 2013, revenue increased 28% (30% on a constant currency basis) to $384.3 million, compared to revenue of $300.7 million reported for the same period last year, driven by growth in the Health Segment. Organic revenue growth was 23%. Fiscal 2013 fourth quarter income from continuing operations, net of taxes, totaled $35.6 million, or $0.51 per diluted share. This represents a 50% increase compared to $0.34 reported, on a GAAP basis, for the same period last year.

Revenue for fiscal year 2013 increased 27% (28% on a constant currency basis) to $1.33 billion compared to $1.05 billion reported for fiscal 2012. Fiscal 2013 included approximately $16.0 million in revenue from a terminated contract that the Company excluded from its fiscal 2013 guidance. Fiscal 2013 revenue grew 19% organically compared to the same period last year. Revenue increases for the fiscal year were driven by new work, the expansion of existing contracts, and the acquisition of PSI and Health Management.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs