Slide 1: First Quarter – Fiscal Year 2011 (David N. Walker, CFO)
David N. Walker Chief Financial Officer and Treasurer First Quarter – Fiscal Year 2011February 3, 2011 A number of statements being made today will be forward-looking in nature. Such statements are only predictions and actual events or results may differ materially as a result of risks we face, incl
Slide 2: Selected Financial Results from Continuing Operations
Selected Financial Results from Continuing Operations Q1 Q1 $ % FY '11 FY '10 change change Actual Actual ($mm, except per share data) Record Q1 Revenue Q1 FY11 revenue grew 5.3% to $214.1m Health Services 130.0 $ 130.6 $ (0.6) $ (0.5%) Human Services 84.1 72.7 11.4 15.7% Total 214.1 $ 203.3 $ 10.8
Slide 3: Health Services Segment
Health Services Segment 3 FY '11 FY '10 % change Revenue $ $ ( %) Health Services 130.0 130.6 0.5%) Operating Income Health Services 18.8 $ 17.5 $ 7.5% Operating Margin % (excl legal) 14.5% 13.4% $ in millions Q1 First quarter Health Services Segment revenue was consistent with the prior year Expect
Slide 4: Human Services Segment
Human Services Segment 4 Q1 Q1 FY '11 FY '10 % change Revenue Human Services 84.1 $ 72.7 $ 15.7% Operating Income Human Services 8.5 $ 7.4 $ 15.2% Operating Margin % (excl legal) 10.1% 10.2% $ in millions Human Services Segment drove top-line growth in the quarter; revenue grew 15.7% to $84.1 millio
Slide 5: Cash Flow and Balance Sheet
Cash Flow and Balance Sheet 5 Another strong quarter of healthy cash flows driven by the combination of solid net income and better-than-expected collections DSOs were 57 days and outperformed our expectations Q1 FY11 cash provided by operating activities from continuing operations totaled $30.4 mil
Slide 6: Reiterating FY11 Guidance
Reiterating FY11 Guidance FY 11E Revenue $890‐$920 million Adjusted $3 95 $4 15 Diluted EPS 3.95‐$4.15 Operating Margin 12%‐13% Cash from Continuing Ops $75‐$95 million Free Cont $52‐$ Cash Flow from Cont. Ops 52 $72 million Reiterating our FY11 revenue and earnings guidance Consistent with historic
Slide 7: Current Assumptions for the United Kingdom Contract
February 3, 2011 7 Current Assumptions for the United Kingdom Contract Current forecast only includes the runoff from our current book of business under the Flexible New Deal Does not assume any potential new work associated with the UK’s new Work Programme Due to the competitive bid process, unable
Slide 8: First Quarter – Fiscal Year 2011 (Richard A. Montoni, CEO)
Richard A. Montoni President and Chief Executive Officer 8 First Quarter – Fiscal Year 2011 February 3, 2011 Helping Government Serve the People
Slide 9: A Solid Start to Fiscal Year
A very solid performance for the first quarter, which positions us well for the balance of FY11 Several significant accomplishments, including the signing of two major contract renewals and important progress on a large international opportunity Further distinguished MAXIMUS as the go-to partner for
Slide 10: Domestic Health Developments
Despite legal challenges to the Affordable Care Act (ACA), we continue to see positive developments in the overall domestic health environment Most press reports focused primarily on the legal decisions, but several news pieces highlighted the practical realities of how implementation efforts contin
Slide 11: Health Services Business Development
Health Services Business Development 11 Demonstrated success with helping CA and NY establish their state high risk pools, part of the first wave of requirements under HCR Launched a market-leading modernization effort for public health insurance programs in CO and in the start-up phase for a simila
Slide 12: New Opportunities with Medicaid Managed Care
New Opportunities with Medicaid Managed Care 12 Texas is moving nearly three million children from fee-for-service dental plans into managed care and MAXIMUS will serve as the enrollment broker for that transition As Medicaid programs become larger, more complex and costly, states look to new models
Slide 13: United Kingdom Update
United Kingdom Update 13 Made further progress in our efforts to bid work under the UK’s new Work Programme MAXIMUS named as a preferred supplier for seven of the 11 regions, the maximum number allowed under the buying framework Current FND contract in the UK is expected to end on June 30th as the g
Slide 14: International Environment
14 International Environment FY10 was a year of extraordinary international growth with major contract expansion and wins in both Australia and the UK While not expecting the same rate of revenue growth year-over-year in FY11, we remain bullish on our international prospects Pursuing the Work Progra
Slide 15: New Awards and Sales Pipeline
New Awards and Sales Pipeline 15 February 3, 2011 New Sales Jan 28 2011 New Sales Jan. 28, YTD Signed Awards $753m New contracts pending $177m Signed two significant contracts: • 5‐year CA Healthy Families extension • 3‐year TX Eligibility Support Services Sales Opportunities Total Pipeline $1,616m
Slide 16: Conclusion
Conclusion 16 Worked hard to best position the Company in the health and human services BPO markets Timely and well-placed efforts to help states address HCR requirements bearing fruit Short-term, seeing states implement program improvements like eligibility modernization and shift towards Medicaid