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Maximus Inc (MMS) SEC Filing 10-K Annual report for the fiscal year ending Sunday, September 30, 2018

Maximus Inc

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CIK: 1032220 Ticker: MMS
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FOR IMMEDIATE RELEASE
 
CONTACT:
Lisa Miles 703.251.8637
 
 
 
lisamiles@maximus.com
Date: August 9, 2018
 
 
 

MAXIMUS Reports Fiscal Year 2018 Third Quarter Results
- Company to Increase Quarterly Cash Dividend to $0.25 per Share -

(RESTON, Va. - August 9, 2018) - MAXIMUS (NYSE: MMS), a leading provider of government services worldwide, today reported financial results for the three and nine months ended June 30, 2018.

Highlights for the third quarter of fiscal year 2018 include:

•
Revenue of $597.9 million compared to $600.4 million reported for the same period last year

•
Diluted earnings per share of $0.91 compared to $0.86 for the same period last year

•
Cash flows from operations of $72.5 million and free cash flow of $64.1 million

•
Year-to-date signed contract awards of $2.0 billion and contracts pending (awarded but unsigned) of
$779.4 million at June 30, 2018

•
Sales pipeline of $2.9 billion at June 30, 2018

•
An expansion of the Company's share repurchase program of up to $200 million and the purchase of 995,000 shares in the quarter

•
Today, the Company announced a significant increase to the quarterly cash dividend from the current payout of $0.045 per share to $0.25 per share, which is a yield of approximately 1.5%, effective November 2018.

For the third quarter of fiscal 2018, revenue totaled $597.9 million as compared to $600.4 million reported for the same period last year. Organic growth in the Health Services Segment offset expected revenue declines in the U.S. Federal Services and Human Services Segments.

Financial results in the third quarter benefited from several change orders which provided a $15.5 million uplift to revenue and operating income. The change orders were signed and recorded in the third quarter, but the related costs were incurred in prior periods. The change order benefit was offset by certain large contracts in the Health Services Segment that were recently renewed and reset, as well as by the ongoing startup of contracts in the Human Services Segment.

As a result, for the third quarter of fiscal 2018, operating income totaled $82.6 million, yielding an operating margin of 13.8%.

For the third quarter of fiscal 2018, net income attributable to MAXIMUS totaled $59.9 million (or $0.91 of diluted earnings per share). This compares to fiscal 2017 third quarter diluted earnings per share of $0.86.





1891 METRO CENTER DRIVE | RESTON, VIRGINIA 20190 | 703.251.8500 | MAXIMUS.COM

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The following information was filed by Maximus Inc (MMS) on Monday, August 13, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Maximus Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Operations
Accounts Receivable Reserves
Accounts Receivable Reserves (Tables)
Accounts Receivable Reserves - Schedule Of Accounts Receivable Reserve (Details)
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Schedule Of Property And Equipment, At Cost (Details)
Balance Sheet Components Balance Sheet Components - Schedule Of Components Of Capitalized Computer Software (Details)
Balance Sheet Components Balance Sheet Components - Schedule Of Deferred Contract Costs (Details)
Business And Summary Of Significant Accounting Policies
Business And Summary Of Significant Accounting Policies (Policies)
Business And Summary Of Significant Accounting Policies - Cash, Goodwill And Long-Lived Assets (Details)
Business And Summary Of Significant Accounting Policies - Description Of Business (Details)
Business And Summary Of Significant Accounting Policies - New Accounting Policies (Details)
Business And Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Business Combinations And Disposal
Business Combinations And Disposal Business Combinations And Disposals - Ascend Management Innovations, Llc (Details)
Business Combinations And Disposal Business Combinations And Disposals - Assessments Australia (Details)
Business Combinations And Disposal Revitalised (Details)
Business Combinations And Disposals (Tables)
Business Combinations And Disposals - K-12 Education (Details)
Business Combinations And Disposals - Schedule Of Assets And Liabilities Recorded In The Company's Financial Statements (Details)
Business Combinations And Disposals - Schedule Of The Valuation Of The Intangible Assets Acquired (Details)
Business Segments
Business Segments (Tables)
Business Segments - Revenue From External Customers By Geographic Areas (Details)
Business Segments - Schedule Of Identifiable Assets (Details)
Business Segments - Schedule Of Long-Lived Assets By Geographical Areas (Details)
Business Segments - Schedule Of Segment Reporting Results By Segment (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Commitments And Contingencies Commitments And Contingencies - Schedule Of Minimum Future Lease Commitments Under Leases (Details)
Concentrations Of Credit Risk And Major Customers
Concentrations Of Credit Risk And Major Customers (Tables)
Concentrations Of Credit Risk And Major Customers - Schedule Of Concentration Of Risk, By Risk Factor (Details)
Concentrations Of Credit Risk And Major Customers Narrative (Details)
Debt
Debt - Narrative (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Narrative (Details)
Earnings Per Share - Schedule Of The Components Of Basic And Diluted Earnings Per Share (Details)
Employee Benefit Plans And Deferred Compensation
Employee Benefit Plans And Deferred Compensation - Narrative (Details)
Equity
Equity (Tables)
Equity - Narrative (Details)
Equity - Summary Of Information Pertaining To Stock Options Vested And Exercised (Details)
Equity - Summary Of The Company's Rsu Activity (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Schedule Of Finite-Lived Intangible Assets (Details)
Goodwill And Intangible Assets - Schedule Of Future Estimated Amortization Expense (Details)
Goodwill And Intangible Assets - Schedule Of Goodwill (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Components Of Income From Continuing Operations Before Income Taxes (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Net Deferred Tax Position (Details)
Income Taxes - Summary Of Income Tax Contingencies (Details)
Income Taxes Income Taxes - Provision For Income Taxes (Details)
Income Taxes Income Taxes - Reconciliation Of Tax Provision Using The Federal Statutory Income Tax Rate To Reported Provision (Details)
Quarterly Information (Unaudited)
Quarterly Information (Unaudited) (Detail)
Quarterly Information (Unaudited) (Tables)
Subsequent Event
Subsequent Event (Details)
Ticker: MMS
CIK: 1032220
Form Type: 10-K Annual Report
Accession Number: 0001032220-18-000090
Submitted to the SEC: Tue Nov 20 2018 5:02:23 AM EST
Accepted by the SEC: Tue Nov 20 2018
Period: Sunday, September 30, 2018
Industry: Business Services

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