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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): February 7, 2001
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MAXIMUS, INC.
(Exact Name of Registrant as Specified in Charter)
VIRGINIA 1-12997 54-1000588
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation or Organization) Identification No.)
11419 SUNSET HILLS ROAD, RESTON, VIRGINIA 20190
(Address of Principal Executive Offices, including Zip Code)
(703) 251-8500
(Registrant's telephone number, including area code)
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NOT APPLICABLE
(Former Name or Address, if Changed Since Last Report)
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ITEM 9. REGULATION FD DISCLOSURE
MAXIMUS, Inc. ("MAXIMUS" or the "Company") is filing this Current
Report on Form 8-K to disclose certain financial information reflecting a
reorganization of its principal operating segments from two groups to three
groups as if the Company had historically operated under three groups.
In October 2000, the Company reorganized its divisions into three
groups (the Government Operations Group, the Consulting Group and the Systems
Group) in order to better focus and manage the Company's existing and future
technology assets. The Company's core technology assets have been moved to the
newly-created Systems Group. The divisions now included in the Systems Group are
Carrera-MAXIMUS, CSI-MAXIMUS, Public Systems, Intelligent Technologies, and
CCI-MAXIMUS (formerly part of the Information Technology Division). The core
consulting divisions such as Systems Planning and Integration, Human Services,
Spectrum-MAXIMUS and DMG-MAXIMUS remain in the Consulting Group.
The Company is herein providing certain financial segment information
for earlier periods to reflect this change in the composition of its reportable
segments as if the Company had operated under three groups rather than two
groups during the last two fiscal years. This information is being provided for
comparison purposes only. In all future filings, MAXIMUS will provide similar
financial segment information for each of the Government Operations Group, the
Consulting Group and the Systems Group.
(Dollars in thousands) QUARTER ENDED
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DEC. 31, MAR. 30, JUNE 30, SEPT. 30, DEC. 31, MAR. 31, JUNE 30, SEPT. 30,
1998 1999 1999 1999 1999 2000 2000 2000
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Revenues:
Government Operations Group $38,817 $42,544 $47,427 $48,640 $51,180 $54,030 $55,629 $60,338
Consulting Group 24,512 23,030 24,796 27,641 27,141 27,255 31,150 34,371
Systems Group 9,017 10,716 11,945 10,455 11,362 12,216 18,798 15,694
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Total revenues $72,346 $76,290 $84,168 $86,736 $89,683 $93,501 $105,577 $110,403
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Gross profit:
Government Operations Group $ 6,688 $ 8,723 $ 9,494 $ 10,078 $ 11,167 $12,347 $12,733 $ 14,736
Consulting Group 10,018 10,102 10,452 11,032 11,327 10,855 12,352 15,448
Systems Group 3,407 4,571 5,755 4,308 5,104 6,050 8,660 5,765
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Total gross profit $20,113 $23,396 $25,701 $25,418 $27,598 $29,252 $33,745 $35,949
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Income from operations:
Government Operations Group $ 2,566 $ 4,428 $ 4,773 $ 5,049 $ 4,961 $ 6,608 $ 6,516 $ 5,214
Consulting Group 5,028 4,059 4,238 5,759 5,172 4,733 5,196 7,198
Systems Group 1,258 2,007 2,606 1,491 1,765 2,259 2,708 (820)
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Total income from operations $ 8,852 $10,494 $11,617 $12,299 $11,898 $13,600 $14,420 $11,592
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MAXIMUS, INC.
Date: February 7, 2001 By: /s/ F. ARTHUR NERRET
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F. Arthur Nerret
Vice President, Finance and Chief Financial
Officer (Principal Financial and Accounting
Officer)