Richard Montoni: MAXIMUS’ $150M Stock Buyback Plan Wins Board Approval

MontonI_Richard_small
Richard Montoni The board of directors at MAXIMUS (NYSE: MMS) has approved the company’s plan to repurchase as much as $150 million in company shares. MAXIMUS said Monday that shares acquired through the repurchase program will be held as treasury stock and be used for employee stock issuance and general corporate purposes. “Our solid financial position gives us the ability to continue repurchasing...

Rick Nadeau to Join MAXIMUS as CFO

Rick Nadeau
Rick Nadeau Rick Nadeau, formerly chief financial officer at SRA International for four years, will officially join Reston, Va.-based government services contractor MAXIMUS as CFO on June 23. The nearly four-decade financial and executive leadership veteran will succeed the retiring David Walker, who will remain with the company until December to help with the transition and advise CEO Richard Montoni,...

Richard Montoni: ACA, Medicaid Contracts Increase MAXIMUS’ FY 2014 Guidance

MontonI_Richard_small
Richard Montoni MAXIMUS (NYSE: MMS) has announced financial results for the second quarter of the company’s 2014 fiscal year, ended March 31. The Reston, Va.-based government services contractor reported a 35-percent increase in revenue to $439 million from the prior year period and increased its guidance estimates for fiscal 2014 revenue to between $1.68 billion and $1.73 billion. Previous company...

Richard Montoni: Maximus Targets $200M in Annual Revenue From Affordable Care Act Work

Richard Montoni
Richard Montoni Maximus Inc. (NYSE: MMS) booked .3 billion in revenue in fiscal year 2013 as the company worked to help individuals apply for health plan through the federal government’s ObamaCare program, Investor’s Business Daily reported Thursday. Marie Beerens writes 65 percent of that revenue came from the health services business and 35 percent accounted for human services earnings. Richard...

Richard Montoni: Health Services Work Drives ‘Better Than Expected’ 1Q for MAXIMUS

Richard Montoni
Richard Montoni Reston, Va.-based government services contractor MAXIMUS (NYSE: MMS) has announced financial results for the first quarter of its 2014 fiscal year, ended Dec. 31, 2013. The company reported 42-percent higher revenue from the prior year period, or 44 percent on a constant currency basis, going from $286.3 million to $406.6 million. MAXIMUS also raised its fiscal 2014 projections to between...

David Walker to Retire as MAXIMUS CFO; Richard Montoni Comments

Maximus
David Walker, chief financial officer at MAXIMUS (NYSE: MMS) for seven years, plans to retire from his CFO and treasurer roles upon the appointment of his successor. Executive recruitment firm Korn Ferry has been hired to search for Walker’s successor and he will move into a part-time position supporting CEO Richard Montoni by December 2014, MAXIMUS said Monday. The Washington Business Journal...

MAXIMUS Wins $848M to Run Federal Student Aid Contact Center; Richard Montoni, Tom Romeo Comment

Maximus
Richard Montoni A subsidiary of MAXIMUS (NYSE: MMS) has won a potential 10-year, three-month $848.4 million contract to help operate a customer contact center and other facilities for the Education Department‘s Federal Student Aid office. MAXIMUS Federal Services will start work on Sept. 30 under the contract, which contains a two-year and three month base period and eight one-year options,...

Maximus Buys UK-Based Healthcare Provider; Richard Montoni Comments

Richard Montoni
Richard Montoni Maximus (NYSE: MMS) has acquired U.K.-based healthcare provider Health Management Ltd. in a move aimed at expanding Maximus’ medical management services portfolio. The transaction closed on July 1 and is expected to add nearly $11 million to Maximus’ revenue in the next three months, Maximus said Monday. Richard Montoni, Maximus CEO, said the company aims to grow its healthcare...

Maximus Declares 9 Cent Dividend

The board of directors at Maximus (NYSE: MMS) has declared a quarterly cash dividend of 9 cents per share, the company announced Wednesday. Shareholders of record as of Nov. 15, 2012 will receive the payment Nov. 30. In August, the company announced it recorded a 12 percent jump in revenue year-over-year for its fiscal year 2012 second quarter, going from $238.3 million to $266.4 million. Health services...

Maximus Reports 12% Revenue Jump for 3Q; Richard Montoni Comments

Richard Montoni Maximus (NYSE: MMS) has announced financial results for the third quarter of its 2012 fiscal year ended June 30, 2012. The company reported a 12 percent year-over-year increase in revenue, going from $238.3 million to $266.4 million. CEO Richard Montoni said the company has sales pipeline of $3.4 billion and is waiting for awards on close to $1.7 billion in proposals. Maximus also gained...