Maximus Posts Higher Profit In Q1; Lifts FY14 Targets - Quick Facts

(RTTNews) - Business process services provider Maximus, Inc.'s (MMS) first-quarter income from continuing operations, net of taxes, climbed to $33.8 million, or $0.48 per share, from last year's $21.78 million, or $0.31 per share, mainly attributed to growth in the Health Services Segment. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.42 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenue grew 42% year-over-year to $406.6 million, from $286.3 million, driven principally by organic growth in the Health Services Segment; and it was up 44% on a constant currency basis. Five analysts estimated revenues of $392.86 million for the quarter. Organic revenue growth was 37% in the first quarter.

Looking ahead, MAXIMUS raised its fiscal 2014 revenue and earnings guidance, now expecting revenue to range between $1.60 billion and $1.68 billion, compared with its prior $1.55 billion to $1.65 billion range. Also, MAXIMUS now sees earnings per share from continuing operations to range between $1.95 and $2.05, versus its earlier range of $1.75 to $1.85. Analysts project annual earnings of $1.86 per share, on $1.62 billion revenue.