| Quarterly information (unaudited) |
Quarterly information (unaudited)
Set forth below are selected quarterly consolidated statement of operations data for the fiscal years ended September 30, 2017 and 2016. We derived this information from unaudited quarterly financial statements that include, in the opinion of our management, all adjustments necessary for a fair presentation of the information for such periods. Results of operations for any fiscal quarter are not necessarily indicative of results for any future period.
Earnings per share amounts are computed independently each quarter. As a result, the sum of each quarter's earnings per share amount may not equal the total earnings per share amount for the respective year.
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Quarter Ended |
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Dec. 31,
2016 |
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March 31,
2017 |
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June 30,
2017 |
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Sept. 30,
2017 |
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(In thousands, except per share data) |
Health Services |
$ |
340,729 |
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$ |
348,994 |
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$ |
335,090 |
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$ |
355,338 |
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U.S. Federal Services |
141,298 |
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|
145,370 |
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|
131,589 |
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|
127,316 |
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Human Services |
125,537 |
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|
127,683 |
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|
133,768 |
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|
138,249 |
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Revenue |
$ |
607,564 |
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$ |
622,047 |
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$ |
600,447 |
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$ |
620,903 |
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Health Services |
$ |
78,234 |
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$ |
86,454 |
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$ |
83,269 |
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$ |
99,368 |
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U.S. Federal Services |
37,576 |
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|
36,571 |
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|
33,627 |
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|
31,547 |
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Human Services |
29,008 |
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|
29,292 |
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|
35,293 |
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|
31,666 |
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Gross profit |
$ |
144,818 |
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$ |
152,317 |
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$ |
152,189 |
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$ |
162,581 |
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Health Services |
$ |
50,127 |
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$ |
56,540 |
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$ |
51,553 |
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$ |
57,024 |
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U.S. Federal Services |
17,881 |
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|
17,644 |
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|
15,870 |
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|
13,581 |
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Human Services |
11,769 |
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|
9,629 |
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|
16,368 |
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|
10,818 |
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Amortization of intangible assets |
(3,402 |
) |
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(3,386 |
) |
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(2,720 |
) |
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(2,700 |
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Restructuring costs |
(2,242 |
) |
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— |
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— |
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— |
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Acquisition-related expenses |
— |
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— |
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— |
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(83 |
) |
Gain on sale of a business |
— |
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— |
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|
650 |
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— |
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Other/Corporate |
(357 |
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(92 |
) |
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90 |
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(1,050 |
) |
Operating Income |
$ |
73,776 |
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$ |
80,335 |
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$ |
81,811 |
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$ |
77,590 |
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Net income |
46,329 |
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53,097 |
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57,788 |
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54,968 |
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Net income attributable to MAXIMUS |
46,664 |
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52,515 |
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56,918 |
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53,329 |
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Diluted earnings per share attributable to MAXIMUS |
$ |
0.71 |
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$ |
0.80 |
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$ |
0.86 |
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$ |
0.81 |
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Quarter Ended |
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Dec. 31,
2015 |
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March 31,
2016 |
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June 30,
2016 |
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Sept. 30,
2016 |
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(In thousands, except per share data) |
Health Services |
$ |
291,903 |
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$ |
330,567 |
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$ |
333,699 |
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$ |
342,135 |
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U.S. Federal Services |
145,285 |
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|
150,191 |
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149,601 |
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|
146,651 |
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Human Services |
119,534 |
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|
125,695 |
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|
133,794 |
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|
134,305 |
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Revenue |
$ |
556,722 |
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$ |
606,453 |
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$ |
617,094 |
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$ |
623,091 |
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Health Services |
$ |
51,972 |
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$ |
82,717 |
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$ |
76,775 |
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$ |
80,717 |
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U.S. Federal Services |
28,238 |
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|
33,421 |
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38,980 |
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|
37,529 |
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Human Services |
30,005 |
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31,529 |
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35,624 |
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|
34,684 |
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Gross profit |
$ |
110,215 |
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$ |
147,667 |
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$ |
151,379 |
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$ |
152,930 |
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Health Services |
$ |
26,808 |
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$ |
56,914 |
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$ |
50,430 |
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$ |
50,874 |
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U.S. Federal Services |
10,716 |
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|
14,983 |
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19,119 |
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18,558 |
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Human Services |
9,107 |
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9,794 |
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14,251 |
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14,533 |
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Amortization of intangible assets |
(3,149 |
) |
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(3,262 |
) |
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(3,517 |
) |
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(3,449 |
) |
Acquisition-related expenses |
(46 |
) |
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(529 |
) |
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— |
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(257 |
) |
Gain on sale of a business |
— |
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— |
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6,453 |
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|
427 |
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Other/Corporate |
(650 |
) |
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— |
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(2,127 |
) |
|
622 |
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Operating Income |
$ |
42,786 |
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$ |
77,900 |
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$ |
84,609 |
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$ |
81,308 |
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Net income |
26,882 |
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|
49,341 |
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|
52,750 |
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|
51,187 |
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Net income attributable to MAXIMUS |
26,609 |
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|
48,785 |
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|
52,225 |
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|
50,743 |
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Diluted earnings per share attributable to MAXIMUS |
$ |
0.40 |
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$ |
0.74 |
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$ |
0.79 |
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$ |
0.77 |
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