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Concentrations of credit risk and major customers
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2013
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| Concentrations of credit risk and major customers | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Concentrations of credit risk and major customers |
5. Concentrations of credit risk and major customers Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of accounts receivable, billed and unbilled. The Company operates predominantly in the United States. Revenue from foreign-based projects and offices was 25%, 26% and 32% of total revenue for the years ended September 30, 2013, 2012 and 2011, respectively. In the year ended September 30, 2013, approximately 56% of our total revenue was derived from state government agencies whose programs received significant federal funding, 24% from foreign government agencies, 12% from U.S.-based federal government agencies, and 8% from other sources including local municipalities and commercial customers. Management believes that the credit risk associated with its receivables is limited due to the credit worthiness of these customers. During fiscal year 2013, the Company had three customers who each provided more than 10% of the Company's annual revenues: the State of Texas, the United States Federal Government and the Commonwealth of Australia. Revenue from Texas and the United States Federal Government was principally within the Health Services Segment. Revenue from Australia was exclusively within the Human Services Segment. The proportion of revenue recognized from customers providing in excess of 10% of the Company's consolidated revenues for each of the three years ended September 30, 2013 was as follows:
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