MAXIMUS Awarded $16.1 Million California Integrated Information System Contract
RESTON, Va.--(BUSINESS WIRE)--
MAXIMUS (NYSE:MMS), a leading provider of technology, consulting, and operations services to government, announced today that the California Department of Conservation has awarded the Company a contract to design, build, and implement the Division of Recycling Integrated Information System (DORIIS). The four-year contract is valued at $16.1 million.
DORIIS, the flexible, scalable system based upon Oracle's E-Business Suite, will handle the Recycling Division's collection, payment processing, customer relationship management, and management information system needs. The system will provide comprehensive and accurate beverage container recycling information that will allow the Division to improve recycling rates, reduce reimbursement fraud, and increase cash flow. Additionally, the system is expected to help reduce State and local government costs as the result of reduced local landfill use and increased revenue to local government for the California Redemption Value, the fees placed on containers that are recycled.
"This is not simply a system implementation project, but a true business process reengineering and change management effort. MAXIMUS is excited at the opportunity to bring to bear our unique consulting and technology expertise to the California's Department of Conservation," said Richard Montoni, CEO of MAXIMUS.
MAXIMUS has more than 15 years of extensive experience in the implementation of Enterprise Resource Planning (ERP) solutions at the State and local level. This experience is complemented by nearly three decades of quality assurance and business process consulting.
MAXIMUS is one of America's leading government services companies devoted to providing program management, consulting and information technology services. The Company has approximately 6,000 employees located in more than 220 offices in the United States, Canada and Australia. In 1999, 2001, 2002, 2003, and 2005 MAXIMUS was selected by Forbes Magazine as one of the Best 200 Small Companies in America for that year. Additionally, MAXIMUS is included in the Russell 2000 Index and the S&P SmallCap 600 Index.
Non-GAAP Financial Information
This press release includes certain non-GAAP financial information as defined by Securities and Exchange Commission Regulation G. Pursuant to the requirements of this regulation, reconciliations of this non-GAAP financial information to MAXIMUS financial statements as prepared under generally accepted accounting principles (GAAP) are included in this press release. MAXIMUS discloses net income and earnings per share excluding legal settlement expense and losses from the Texas project in the first half of fiscal 2007, and provides certain additional information, such as non-recurring reserves, regarding earnings per share for fiscal 2007. MAXIMUS management believes providing investors with this information gives additional insights into MAXIMUS results of operations. While MAXIMUS management believes that these non-GAAP financial measures are useful in evaluating MAXIMUS operations, this information should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with GAAP.
Source: MAXIMUS
Released August 14, 2007