MAXIMUS Inc. (MMS, Financial) filed Quarterly Report for the period ended 2010-03-31.
Maximus Inc. has a market cap of $1.06 billion; its shares were traded at around $60.72 with a P/E ratio of 20.3 and P/S ratio of 1.5. The dividend yield of Maximus Inc. stocks is 0.8%.MMS is in the portfolios of Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC, Jeremy Grantham of GMO LLC.
Operating income from continuing operations for the six months ended March 31, 2010 was $52.3 million, compared to income of $39.9 million for the same period in fiscal 2009, an increase of $12.4 million. During the period, the Company recovered $7.5 million in insurance relating to the Accenture arbitration matter. This recovery, offset by certain additional charges in the period, resulted in a net improvement in legal and settlement expense of $5.7 million in the current period, compared with the comparative quarter in fiscal 2009. Excluding the effects of legal and settlement expense, operating income from continuing operations increased by $6.7 million, or 16.6%. The improvement was principally driven by increased income in the Operations Segment.
Income from continuing operations, net of income taxes was $18.3 million, or $1.02 per diluted share, for the three months ended March 31, 2010, compared with $11.8 million, or $0.66 per diluted share, for the same period in fiscal 2009. The increase in income from continuing operations, net of income taxes of $6.5 million is primarily driven by increases in revenue within the Operations Segment, as well as a decline in the Companys effective tax rate resulting from a larger mix of international business.
Income from continuing operations, net of income taxes was $32.9 million, or $1.83 per diluted share, for the six months ended March 31, 2010, compared with $24.2 million, or $1.36 per diluted share, for the same period in fiscal 2009. The increase in income from continuing operations, net of income taxes of $8.7 million is primarily driven by increases in revenue within the Operations Segment, as well as a decline in the Companys effective tax rate, resulting from a larger mix of international business.
Net income for the three months ended March 31, 2010 was $18.7 million, or $1.04 per diluted share, compared with $11.0 million, or $0.62 per diluted share, for the same period in fiscal 2009. The increase in net income of $7.7 million is primarily driven by increases in revenue within the Operations Segment, a decline in the Companys effective tax rate, and the profitability of discontinued operations during the quarter.
Net income for the six months ended March 31, 2010 was $31.4 million, or $1.74 per diluted share, compared with $23.0 million, or $1.29 per diluted share, for the same period in fiscal 2009. The increase in net income of $8.4 million is primarily driven by increases in revenue within the Operations Segment and a decline in the Companys effective tax rate.
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Maximus Inc. has a market cap of $1.06 billion; its shares were traded at around $60.72 with a P/E ratio of 20.3 and P/S ratio of 1.5. The dividend yield of Maximus Inc. stocks is 0.8%.MMS is in the portfolios of Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:
We provide operations program management and consulting services focused in the areas of health and human services primarily for government-sponsored programs such as Medicaid and the Childrens Health Insurance Program (CHIP). Founded in 1975, we are the largest pure-play health and human services provider to government in the United States and are at the forefront of innovation in meeting our mission of Helping Government Serve the People®. We use our expertise, experience and advanced technological solutions to help government agencies run more efficient and cost-effective programs, while improving the quality of services provided to program beneficiaries. We operate in the United States, Australia, Canada, the United Kingdom, and Israel. We have held contracts with government agencies in all 50 states in the U.S. For the fiscal year ended September 30, 2009, we had revenue of $717.3 million and net income of $46.5 million. For the three months and six months ended March 31, 2010, we had revenue of $203.8 million and $406.2 million, respectively, and net income of $18.7 million and $31.4 million, respectively.Operating income from continuing operations for the six months ended March 31, 2010 was $52.3 million, compared to income of $39.9 million for the same period in fiscal 2009, an increase of $12.4 million. During the period, the Company recovered $7.5 million in insurance relating to the Accenture arbitration matter. This recovery, offset by certain additional charges in the period, resulted in a net improvement in legal and settlement expense of $5.7 million in the current period, compared with the comparative quarter in fiscal 2009. Excluding the effects of legal and settlement expense, operating income from continuing operations increased by $6.7 million, or 16.6%. The improvement was principally driven by increased income in the Operations Segment.
Income from continuing operations, net of income taxes was $18.3 million, or $1.02 per diluted share, for the three months ended March 31, 2010, compared with $11.8 million, or $0.66 per diluted share, for the same period in fiscal 2009. The increase in income from continuing operations, net of income taxes of $6.5 million is primarily driven by increases in revenue within the Operations Segment, as well as a decline in the Companys effective tax rate resulting from a larger mix of international business.
Income from continuing operations, net of income taxes was $32.9 million, or $1.83 per diluted share, for the six months ended March 31, 2010, compared with $24.2 million, or $1.36 per diluted share, for the same period in fiscal 2009. The increase in income from continuing operations, net of income taxes of $8.7 million is primarily driven by increases in revenue within the Operations Segment, as well as a decline in the Companys effective tax rate, resulting from a larger mix of international business.
Net income for the three months ended March 31, 2010 was $18.7 million, or $1.04 per diluted share, compared with $11.0 million, or $0.62 per diluted share, for the same period in fiscal 2009. The increase in net income of $7.7 million is primarily driven by increases in revenue within the Operations Segment, a decline in the Companys effective tax rate, and the profitability of discontinued operations during the quarter.
Net income for the six months ended March 31, 2010 was $31.4 million, or $1.74 per diluted share, compared with $23.0 million, or $1.29 per diluted share, for the same period in fiscal 2009. The increase in net income of $8.4 million is primarily driven by increases in revenue within the Operations Segment and a decline in the Companys effective tax rate.
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