MAXIMUS (NYSE: MMS) rolled out financial results for the fourth quarter and fiscal year ended Sept. 30, 2010.
The firm reported the following:
“Revenue for the fiscal 2010 fourth quarter increased 9.1 percent (7.4 percent on a constant currency basis) to $212.5 million versus $194.8 million reported for the same period last year. Revenue for fiscal year 2010 increased 15.5 percent (11.2 percent on a constant currency basis) to $831.7 million compared to $720.1 million for fiscal year 2009. Revenue growth was driven principally by the international employment services businesses in Australia and the United Kingdom. Organic revenue grew 7.6 percent in the fourth quarter and 14.5 percent for the full fiscal year.
“We are very pleased with our results for the quarter and the full year. Fiscal 2010 was highlighted by extraordinary growth in our international welfare-to-work programs in Australia and the U.K., ” CEO Richard A. Montoni said. “Domestically, we were awarded strategic new work as states take steps to prepare for healthcare reform. These wins include contracts for eligibility and enrollment modernization in Colorado and New York, as well as high-risk pools in California and New York. This signifies increased traction with our government partners as they seek to build on existing program infrastructure and improve business processes in order to achieve the requirements under the Affordable Care Act.”
