Maximus / MMS
About Maximus
11419 Sunset Hills Rd., Reston, Va. 20190
www.maximus.com
| 703-251-8500
| Founded: 1975
Industry: Government And Professional Services | Category: Public Companies
Maximus suffered a substantial financial setback arising from problems in its subcontract with Accenture to help operate a human-services enrollment program for the state of Texas. Maximus's share of the five-year deal announced in 2005 was estimated to be $370 million.
But in December, Texas revamped the contract with Accenture, sparking an arbitration battle between Maximus and Accenture over the management of the Texas Children's Health Insurance Program. Maximus announced in February 2007 that the dispute had caused its first-quarter earnings to drop into the red, citing outstanding receivables and a provision for future legal expenses. Last year, the company took a $10 million charge to reflect the settlement of a lawsuit in Georgia concerning fraudulent guarantees of computer-equipment leases signed by two former employees.
The company in the meantime looked for business elsewhere, winning a $73.7 million two-year contract from New York City and nearby counties to continue furnishing Medicaid care enrollment services. Maximus also won two contract renewals from Wisconsin worth a total of $25 million to supply job development, placement and case-management services.
CEO and President: Richard A. Montoni
2006 Financial Data
Revenues: $700,894,000 | Net Income: $2,460,000Asssets: $558,501,000 | Earnings Per Share: $0.11
Stockholder Equity: $404,899,000 | Annual Dividend: $0.40
Total employees: 5,735 | Local employees: 556
Company Leadership
| Richard A. Montoni | President and CEO |
| Bruce L. Caswell | President, operations |
| Robert B. Sullivan | President, consulting |
| Lynn P. Davenport | Former President and CEO |
| John F. Boyer | President, federal services |
Source: Compensation data provided by Equilar, Inc..
| Richard A. Montoni President and CEO | $8,322,017 Salary: $482,236 |
| Bruce L. Caswell President, operations | $1,482,438 Salary: $385,000 |
| Robert B. Sullivan President, consulting | $1,259,067 Salary: $407,292 |
| Lynn P. Davenport Former President and CEO | $1,058,030 Salary: $370,546 |
| John F. Boyer President, federal services | $859,454 Salary: $385,000 |
Did You Know
Maximus Inc. sells software and consulting services to help state and local governments manage social services, including child-support enforcement, Medicaid billing, job placement and prison administration.