|FOR IMMEDIATE RELEASE||CONTACT:||Lisa Miles 703.251.8637|
|Date: November 19, 2019|
MAXIMUS Reports Fourth Quarter and Full Year Results for Fiscal Year 2019
- Establishes Guidance for Fiscal Year 2020 -
(RESTON, Va. - November 19, 2019) - MAXIMUS (NYSE: MMS), a leading provider of government services worldwide, today reported financial results for the three months and year ended September 30, 2019.
Highlights for fiscal year 2019 include:
•Revenue increased to $2.89 billion driven by the November 2018 acquisition in the U.S. Federal Services Segment
•Diluted earnings per share of $3.72
•Total company operating margin of 11.0%
•Cash and cash equivalents of $105.6 million at September 30, 2019
•Solid cash generation with cash flows from operations of $356.7 million and free cash flow of $294.4 million
•Signed year-to-date contract awards of $2.6 billion, new contracts pending (awarded, but unsigned) of $242 million, and a sales pipeline of $30.2 billion at September 30, 2019
Revenue for the fourth quarter and fiscal 2019 increased to $755.0 million and $2.89 billion, respectively, compared to $558.4 million and $2.39 billion reported for the same periods last year.
For the fourth quarter of fiscal 2019, net income attributable to MAXIMUS totaled $60.1 million, or $0.93 of diluted earnings per share. This compares to $46.3 million and $0.71, respectively, for the fourth quarter of fiscal 2018. For fiscal 2019, net income attributable to MAXIMUS totaled $240.8 million, or $3.72 of diluted earnings per share. This compares to fiscal 2018 reported net income attributable to MAXIMUS of $220.8 million and diluted earnings per share of $3.35.
The year-over-year increase in revenue and earnings was driven by the acquisition of the federal citizen engagement centers business which was completed on November 16, 2018. If the acquisition had occurred on October 1, 2018, revenue and diluted earnings per share would have been approximately $2.985 billion and $3.77, respectively, on a pro-forma basis.
1891 METRO CENTER DRIVE | RESTON, VIRGINIA 20190 | 703.251.8500 | 703.251.8240 FAX | MAXIMUS.COM
The following information was filed by Maximus Inc (MMS) on Friday, November 22, 2019 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.