MAXIMUS Reports 28% Revenue Hike for FY 2014, 24% Profit Increase; Richard Montoni Comments

Richard Montoni
Richard Montoni

MAXIMUS (NYSE: MMS) has announced financial results for the fourth quarter and full 2014 fiscal year ended Sept. 30, 2014.

Revenue for the fiscal year increased 28 percent to $1.7 billion and by 13 percent for the quarter to $435.4 million, while profit grew 24.6 percent for the full fiscal year to $145.4 million and by 4 percent for the quarter to $36.2 million.

“Year-to-date signed awards reached a record $2.0 billion and contributed to a healthy backlog of $3.8 billion, ” said Richard Montoni, MAXIMUS CEO.

The Reston, Virginia-based government services contractor also reported a 45-percent increase in health services segment revenue to $1.25 billion year-over-year and a 19-percent increase to $321.7 million for the quarter compared to the same period in fiscal 2013.

Human services segment revenue for the fourth quarter and for fiscal 2014 stayed relatively flat over 2013 figures, the company said.

The company’s total value of signed awards for fiscal 2014 is 5.2 percent higher than the prior year period and total backlog for fiscal 2014 is 11.8 percent higher than the fiscal 2013 figure.

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