| Schedule of financial information for each of the Company's business segments |
The table below provides certain financial information for each of our business segments.
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Three Months Ended June 30, |
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Nine Months Ended June 30, |
(dollars in thousands) |
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2016 |
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% (1) |
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2015 |
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% (1) |
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2016 |
|
% (1) |
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2015 |
|
% (1) |
Revenue: |
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Health Services |
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$ |
333,699 |
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|
100 |
% |
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$ |
298,549 |
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|
100 |
% |
|
$ |
956,169 |
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|
100 |
% |
|
$ |
813,037 |
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|
100 |
% |
U.S. Federal Services |
|
149,601 |
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|
100 |
% |
|
141,011 |
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100 |
% |
|
445,077 |
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100 |
% |
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348,205 |
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100 |
% |
Human Services |
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133,794 |
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100 |
% |
|
132,741 |
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100 |
% |
|
379,023 |
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100 |
% |
|
359,896 |
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|
100 |
% |
Total |
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$ |
617,094 |
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100 |
% |
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$ |
572,301 |
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100 |
% |
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$ |
1,780,269 |
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100 |
% |
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$ |
1,521,138 |
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100 |
% |
Gross profit: |
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Health Services |
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$ |
76,775 |
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23.0 |
% |
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$ |
69,813 |
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23.4 |
% |
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$ |
211,464 |
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22.1 |
% |
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$ |
199,533 |
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24.5 |
% |
U.S. Federal Services |
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38,980 |
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26.1 |
% |
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34,780 |
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24.7 |
% |
|
100,639 |
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22.6 |
% |
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82,362 |
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23.7 |
% |
Human Services |
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35,624 |
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26.6 |
% |
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39,205 |
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29.5 |
% |
|
97,158 |
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25.6 |
% |
|
105,515 |
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29.3 |
% |
Total |
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$ |
151,379 |
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24.5 |
% |
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$ |
143,798 |
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25.1 |
% |
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$ |
409,261 |
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23.0 |
% |
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$ |
387,410 |
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25.5 |
% |
Selling, general and administrative expense: |
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Health Services |
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$ |
26,345 |
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7.9 |
% |
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$ |
25,343 |
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8.5 |
% |
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$ |
77,312 |
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8.1 |
% |
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$ |
75,747 |
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9.3 |
% |
U.S. Federal Services |
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19,861 |
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13.3 |
% |
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19,244 |
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13.6 |
% |
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55,821 |
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12.5 |
% |
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43,871 |
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12.6 |
% |
Human Services |
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21,373 |
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16.0 |
% |
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22,402 |
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16.9 |
% |
|
64,006 |
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16.9 |
% |
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58,624 |
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16.3 |
% |
Other (2) |
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2,127 |
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NM |
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8 |
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NM |
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2,777 |
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NM |
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|
108 |
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NM |
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Total |
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$ |
69,706 |
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11.3 |
% |
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$ |
66,997 |
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11.7 |
% |
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$ |
199,916 |
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11.2 |
% |
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$ |
178,350 |
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11.7 |
% |
Operating income: |
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Health Services |
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$ |
50,430 |
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15.1 |
% |
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$ |
44,470 |
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14.9 |
% |
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$ |
134,152 |
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14.0 |
% |
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$ |
123,786 |
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15.2 |
% |
U.S. Federal Services |
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19,119 |
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12.8 |
% |
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15,536 |
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11.0 |
% |
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44,818 |
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10.1 |
% |
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38,491 |
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11.1 |
% |
Human Services |
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14,251 |
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10.7 |
% |
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16,803 |
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12.7 |
% |
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33,152 |
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8.7 |
% |
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46,891 |
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13.0 |
% |
Amortization of intangible assets |
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(3,517 |
) |
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NM |
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(3,275 |
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NM |
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(9,928 |
) |
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NM |
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(6,182 |
) |
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NM |
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Acquisition-related expenses (3) |
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— |
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NM |
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(2,459 |
) |
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NM |
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(575 |
) |
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NM |
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(4,573 |
) |
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NM |
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Gain on sale of a business |
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6,453 |
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NM |
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— |
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NM |
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6,453 |
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NM |
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— |
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NM |
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Other (2) |
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(2,127 |
) |
|
NM |
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(8 |
) |
|
NM |
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(2,777 |
) |
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NM |
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(108 |
) |
|
NM |
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Total |
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$ |
84,609 |
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13.7 |
% |
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$ |
71,067 |
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12.4 |
% |
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$ |
205,295 |
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11.5 |
% |
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$ |
198,305 |
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13.0 |
% |
(1) Percentage of respective segment revenue. Percentages not considered meaningful are marked “NM.”
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(2)
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During the three and nine months ended June 30, 2016, we incurred $2.1 million and $2.8 million, respectively, of legal costs related to a matter that occurred in fiscal year 2014, which is classified in Other SG&A expense.
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(3) |
Acquisition-related expenses are costs directly incurred from the purchases of Ascend Management Innovations, LLC (Ascend) and Assessments Australia in fiscal year 2016 and the purchase of Acentia in fiscal year 2015, as well as other transaction-related activity. Refer to Note 4 for details regarding the acquisitions. |
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