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: $2,460,000
Asssets: $558,501,000 | Earnings Per Share: $0.11
Stockholder Equity: $404,899,000 | Annual Dividend: $0.40
Total employees: 5,735 | Local employees: 556