UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): April 1, 2003

 

 

MAXIMUS, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

11419 Sunset Hills Road, Reston, Virginia 20190-5207

(Address of Principal Executive Offices, including Zip Code)

 

(703) 251-8500

(Registrant’s Telephone Number, Including Area Code)

 

 

Not Applicable

(Former Name or Address, if Changed Since Last Report)

 

 

Item 5.  Other Events and Required FD Disclosure.

 

We are filing this Current Report on Form 8-K to disclose certain financial information reflecting a division reorganization within our principal operating segments.

 

Effective April 1, 2003, we reorganized our business in order to better focus and manage our administrative and financial health systems line of business. The Public Systems division, formerly part of the Systems Group, has been renamed the Health Systems division and is now part of the Health Services Group. Additionally, certain contracts within the Public Systems division have been moved to the Children Services division of the Human Services Group.

 

We are herein providing certain financial segment information for earlier periods to reflect this change in the composition of our reportable segments as if we had operated under the new organizational structure during the last two full fiscal years and the first two quarters of the current fiscal year. This information is being provided for comparison purposes only.

 

2

 

		Quarter Ended
		Dec. 31, 2000			Mar. 31, 2001			June 30, 2001			Sept. 30, 2001			Dec. 31, 2001			Mar. 31, 2002			June 30, 2002			Sept. 30, 2002			Dec. 31, 2002			Mar. 31, 2003
		(In thousands)
Revenue:
Consulting Group		$	33,038		$	37,181		$	40,616		$	35,991		$	33,403		$	35,009		$	34,518		$	35,009		$	33,195		$	33,566
Health Services Group		30,631			33,284			37,432			39,820			41,306			34,973			42,704			42,169			40,991			41,118
Human Services Group		31,047			34,576			35,285			39,284			37,792			35,006			38,085			37,837			38,359			36,014
Systems Group		14,530			15,216			17,299			12,030			17,069			16,965			17,783			19,070			20,146			19,965
Total		$	109,246		$	120,257		$	130,632		$	127,125		$	129,570		$	121,953		$	133,090		$	134,085		$	132,691		$	130,663
Gross profit:
Consulting Group		$	12,575		$	17,073		$	19,796		$	17,969		$	15,530		$	16,560		$	15,508		$	17,288		$	13,960		$	14,090
Health Services Group		6,281			6,628			6,844			6,595			8,872			2,621			8,588			8,712			10,351			9,591
Human Services Group		6,294			7,914			7,602			10,530			7,860			7,294			9,339			8,689			8,002			6,306
Systems Group		6,842			6,596			6,270			5,624			7,314			8,729			9,496			9,262			9,948			8,599
Total		$	31,992		$	38,211		$	40,512		$	40,718		$	39,576		$	35,204		$	42,931		$	43,951		$	42,261		$	38,586
Income (loss) from operations:
Consulting Group		$	4,591		$	9,395		$	11,942		$	10,919		$	7,951		$	8,425		$	6,492		$	8,097		$	5,139		$	5,132
Health Services Group		2,808			2,785			3,565			3,128			5,045			(1,563		)	4,668			4,780			6,457			4,955
Human Services Group		1,869			3,064			3,396			6,417			3,333			2,276			3,808			2,589			1,957			166
Systems Group		1,581			1,099			762			(281		)	1,664			2,227			2,837			1,710			2,555			745
Total		$	10,849		$	16,343		$	19,665		$	20,183		$	17,993		$	11,365		$	17,805		$	17,176		$	16,108		$	10,998

 

3

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

		MAXIMUS, Inc.
Date:     May 23, 2003	By:	/s/ Richard A. Montoni
		Richard A. Montoni, Chief Financial Officer
		(Principal Financial and Accounting Officer)

 

4