Maximus Post Mixed Results (MMS)

Maximus, Inc. MMS released financial results on Thursday morning that beat Wall Street earnings estimates, while missing revenue expectations. Maximus, Inc announced that its 4th quarter net income rose to $21.7 million, up from $8.6 million a year earlier. Excluding special items, the company reported earnings of $1.08 per share. The company's revenue rose to $212.52 million, up from $199.81 million a year ago. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $1.04 per share, on revenue of $218.45 million. Chief executive officer Richard A. Montoni said, “We are very pleased with our results for the quarter and the full year. Fiscal 2010 was highlighted by extraordinary growth in our international welfare-to-work programs in Australia and the U.K. Domestically, we were awarded strategic new work as states take steps to prepare for health care reform. These wins include contracts for eligibility and enrollment modernization in Colorado and New York, as well as high risk pools in California and New York. This signifies increased traction with our government partners as they seek to build on existing program infrastructure and improve business processes in order to achieve the requirements under the Affordable Care Act.” Maximus, Inc. (MMS) finished the previous trading day at $62.35 per share. The consensus price target of analysts covering the company's stock is $73.67 per share. Read more from Benzinga's Company news.