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Richard Montoni: Health, Human Services Contracts Drive Maximus’ 15% Revenue Growth in Q1 2015

Richard Montoni
Richard Montoni

Maximus (NYSE: MMS) has announced financial results for the first quarter of its 2015 fiscal year, which ended Dec. 31, 2014.

The Reston, Virginia-based contractor said Thursday overall Q1 revenue grew approximately 15 percent from the prior year quarter to $467 million and net income attributable to the company rose 29 percent to $41.9 million for the quarter.

“In our health services segment, the second open enrollment period under the Affordable Care Act has proved to be smoother, with call volumes that were in line with our expectations, ” said Maximus CEO Richard Montoni, a Wash100 Award recipient.

“We are also pleased with the growth coming from new work and expansion of existing contracts within our human services segment, ” Montoni added.

The firm also reported $1.3 billion in year-to-date signed contract wins as of Dec. 31, compared with $347 million for the previous year.

First-quarter revenue for the company’s health services business reached $351.7 million, while human services revenue amounted to $115.4 million.

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