Slide 1: Fiscal 2011 Fourth Quarter & Full Year Earnings
David N. Walker Chief Financial Officer and Treasurer November 10, 2011 Fiscal 2011 Fourth Quarter & Full Year Earnings 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 ri
Slide 2: Selected Financial Results from Continuing Operations
Selected Financial Results from Continuing Operations *All numbers reflect the two-for-one stock split Record ResultsExceptional year with 12% revenue growth and 24% earnings growthFY11 was highlighted by:Growth in core marketsWinning several rebids Expanding the international baseFinancial resultsQ
Slide 3: Adjusted Diluted EPS from Continuing Operations
Adjusted Diluted EPS from Continuing Operations Increased share of international business and tax planning lowered tax rates to 28.9% for Q4 and 34.8% for the full year.Q4 GAAP diluted EPS from continuing operations totaled $0.73 and includes $0.09 of benefits for tax rate adjustments and net legal
Slide 4: Health Services Segment
Health Services Segment Q4 revenue increased 21% to $156.3 million and FY 11 revenue grew 10% to $565.9 million, driven by new work and expansion on existing contractsStrong Q4 growth due to organic growth in British Columbia, where we are modernizing the PharmaNet system, as well as Texas, where we
Slide 5: Human Services Segment
Human Services Segment Q4 revenue grew 12% to $93.8 million (4% on a constant currency basis) and FY11 revenue increased 15% (7% on a constant currency basis) to $363.8 million, driven principally by the welfare-to-work business in Australia and the UK and benefitting from favorable currency trendsS
Slide 6: Balance Sheet and Cash Flows
Balance Sheet and Cash Flows Other Placeholder: Solid net income contributed to strong cash flows for the fiscal year; strong collections and low DSOs of 56 days led to better-than-expected Q4 cash flowCash provided by operating activities from continuing operations totaled $27.1 million with free c
Slide 7: Introducing FY 2012 Guidance
Introducing FY 2012 Guidance Entering FY12 with approximately 95% of forecasted revenue in the form of backlog/optionsUK operations slightly ahead of our prior expectations for FY12The improved outlook in the UK is driven by:Higher volumes on the Work ProgrammeAn expected termination payment associa
Slide 8: Fiscal 2011 Fourth Quarter & Full Year Earnings
Richard A. Montoni President and Chief Executive Officer November 11, 2011 Fiscal 2011 Fourth Quarter & Full Year Earnings
Slide 9: Record Results Create a Foundation for Growth
Another year of record results for both revenue and earnings; kept our sights on creating the foundation for growth over the next three years and beyond Successfully added new work and won 98% of the total contract value up for rebid, securing some of our most important projects for the next several
Slide 10: Update on FND and Work Programme in the UK
In final negotiations to complete the wind down of the Flexible New DealExpect resolution in the first quarter of fiscal 12Work Programme continues to roll out on targetFour months of operations under our belt; case volumes slightly ahead of expectationsUK team is working diligently to hit longer-te
Slide 11: Three new awards to add approximately $20 million of annual revenue
Three new awards to add approximately $20 million of annual revenue once operational later in the year; expect partial year contributions in FY12 Received notification of award for our first workforce services project in Canada to deliver employment services in the city of Kelowna under the new Empl
Slide 12: International Opportunities for MAXIMUS
Continue to receive requests from countries to help address fiscal challenges with public benefits programsAusterity and reform measures, particularly those in Europe, create opportunities in welfare-to-work, health care and program eligibilitySeeing an increase in governments’ openness to outsourci
Slide 13: Domestic Growth from Expanded Managed Care
Kaiser Family Foundation report states that 11 states in fiscal 11 and 24 states in fiscal 12 are expanding the areas and populations covered by managed care programs; we are seeing expansion of our health services contracts in CA, CO, NY and MI Most notable expansion is in TX, where the state is ex
Slide 14: Broadening the MAXIMUS Federal Presence
Several building blocks in place as we seek to broaden our presence in the federal marketBrought in Tom Romeo to lead our Federal Services initiatives; Tom brings nearly 20 years of experience, managing high-profile projects for large federal agencies and developing and executing federal healthcare
Slide 15: Health insurance exchange and ACA implementation
States continue to plan for ACA implementation, even as they face budget challenges, passing legislation and issuing RFIs, mainly for technology components of the exchangeMAXIMUS-Connecture team responded to 10 RFIs in areas that correspond with core services and have met with and demonstrated State
Slide 16: New Awards and Sales Pipeline
New Awards and Sales Pipeline (in millions) At September 30, 2011, backlog increased 38% to a record $2.9. billion, driven by new work and many successful rebid awards in fiscal 2011.
Slide 17: Positioned to Capitalize on New Opportunities
Three main goals for driving longer-term growth:Expanding our global operations Further positioning our domestic operations for new opportunitiesGrowing our federal book of business Achieved several key milestones in FY11 and will continue our progress towards growing the business in FY12 and beyond
Slide 18: Conclusion
The need for high quality, efficient social services is a universal one; there will continue to be demand for world-class administration of government programs from vendors who can deliver results With fiscal 12 guidance in place, we look forward to driving results for our clients and our shareholde