Home / Financial Report / Maximus Reports 9.7% Revenue Hike in 2Q; Richard Montoni Comments

Maximus Reports 9.7% Revenue Hike in 2Q; Richard Montoni Comments

MaximusMaximus (NYSE: MMS) has announced financial results for the second quarter of its 2015 fiscal year ended March 31, 2015.

The Reston, Va.-based government contractor reported a 9.74-percent increase in revenue from the prior year period to $481.79 million with a profit of $39.02 million for the quarter.

Richard Montoni
Richard Montoni

Revenue in the company’s health services segment rose 14.45 percent year-over-year to $370.38 million, a figure Maximus said exceeded its expectations due to contract amendments larger than the company anticipated.

Maximus also reported $111.41 in human services segment revenue, a figure the company said was affected by a strong U.S. dollar and other currency exchange fluctuations.

Richard Montoni, Maximus CEO and a Wash100 inductee, highlighted the company’s signature of a five-year, $940 million contract in March to help Australia run the country’s jobactive program as an “important rebid win (that) includes an increase in market share from 12.5% to 15% .”

Montoni also pointed to the company’s now-closed $300 million cash buy of Acentia and its purchase of a 70-percent stake in U.K.-based employment services firm Remploy as moves to “support our growth objectives for our federal business in the U.S. and our human services business in the U.K.”

Maximus said its year-to-date signed contract awards at the second quarter’s end totaled $1.58 billion and its sales pipeline sat at $2.6 billion.

Check Also

F5 to Buy Shape Security for $1B; Francois Locoh-Donou Quoted

F5 Networks (Nasdaq: FFIV) has agreed to acquire Santa Clara, Calif.-based Shape Security for approximately $1B in cash as both companies aim to help government and enterprise customers secure digital experience with integrated offerings.

Paratek Secures $169M Anthrax Antibiotic Development Contract Under HHS Project BioShield

The Department of Health and Human Services has awarded Paratek Pharmaceuticals a potential a five-year, $169M contract to further develop an antibiotic drug as a potential treatment for inhalation anthrax.