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AZZ SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess Of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against AZZ Inc. – AZZ

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NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 3, 2020 to file lead plaintiff applications in a securities class action lawsuit against AZZ Inc. (NYSE: AZZ), if they purchased the Company’s securities between July 3, 2018 and October 8, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of Texas.

What You May Do

If you purchased securities of AZZ and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-azz/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 3, 2020.

About the Lawsuit

AZZ and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On May 17, 2019, post-market, the Company disclosed a material weakness in its internal control over financial reporting related to preparation and review of revenue reconciliations after adopting a new revenue recognition standard. On October 8, 2019, the Company disclosed that its 2Q2020 financial results were delayed “to allow the Company additional time to complete the review of the Form 10-Q for its fiscal year 2020 second quarter ended August 31, 2019.”

On this news, the price of AZZ shares plummeted nearly 14%.

The case is Atayi v. AZZ Inc.,19-cv-00928.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contacts

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner

lewis.kahn@ksfcounsel.com
1-877-515-1850

1100 Poydras St., Suite 3200

New Orleans, LA 70163

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Business Wire

SolarWinds Makes APM More Accessible for All With New AppOptics Dev Edition Free Tool

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Tech pros benefit from the richness of a full-featured application performance management solution in a free edition suited for development environments

AUSTIN, Texas–(BUSINESS WIRE)–#APMSolarWinds (NYSE:SWI), a leading provider of powerful and affordable IT management software, today announced SolarWinds® AppOptics Dev Edition, a free version of its award-winning SaaS infrastructure and application performance management (APM) solution, AppOptics—part of the SolarWinds APM Suite. AppOptics Dev Edition offers the same rich features of the full AppOptics solution in a scaled-back version well-suited for development environments, enabling technology professionals at any stage in the APM journey to test, optimize, and troubleshoot business applications before they go live in production operations.


According to the Gartner® 2019 Magic Quadrant® for Application Performance Monitoring, enterprises will quadruple their use of APM functionality through 2021 to cover the increasing demand for digitized business capabilities. They expect APM suites will cover 20 percent of all business applications by this time.

“The need to manage custom business applications is on the rise, placing new pressures on tech pros to monitor the performance and availability of apps in hybrid and cloud-native environments. SolarWinds is helping tech pros ease this burden and overcome the cost and complexity traditionally associated with most APM tools available on the market by offering free access to its AppOptics APM features and functionality,” said Denny LeCompte, senior vice president and general manager, application management, SolarWinds. “Whether a tech pro is just getting started with APM or if they’re looking for a means to test and troubleshoot apps before production, the AppOptics Dev Edition provides real value for a variety of business application use cases.”

Designed to deliver end-to-end visibility down to the transaction level, AppOptics helps users prove where and when end-user experiences do not meet intended-for service levels through performance information for each element of a request, providing insight into the root cause of performance bottlenecks. AppOptics supports custom applications in hybrid and cloud-native environments with broad language support (.Net, Java®, PHP, Python®, Scala, Node.js®, Go, and Ruby).

AppOptics Dev Edition highlights include:

  • Comprehensive troubleshooting: Combine distributed tracing, live code profiling, and exception tracking to quickly identify performance issues down to the line of code. In addition, with automated log context tracking, tech pros can view the logs related to a particular trace to get full understanding of an issue.
  • Infrastructure monitoring: Measure infrastructure, application, and business performance—from custom on-premises to highly distributed cloud applications—by incorporating metrics that matter most to assessing infrastructure impact.
  • Dev environment focus: Determine if the application in development has the appropriate host and/or container resources to support your application before going live. Quickly recognize if you have exceeded thresholds that could be impacting application availability and performance using color-coded heatmaps that provide visualizations of hosts and containers, as well as comprehensive alerting on key resource and performance metrics across the stack.

AppOptics Dev Edition comes with up to five traces per minute, 100 metrics, three hosts, and six containers.

SolarWinds AppOptics was recognized in the Gartner January 2019 Gartner Peer Insights Customers’ Choice for APM Suites. Now with the free AppOptics Dev Edition, SolarWinds is bringing its powerful APM solution to a broader set of users and furthering its commitment to empowering tech pros with the ability to help identify application performance problems faster, reduce downtime, and improve overall user experience.

Additional Resources

Connect with SolarWinds

#SWIproducts

About SolarWinds

SolarWinds (NYSE:SWI) is a leading provider of powerful and affordable IT management software. Our products give organizations worldwide—regardless of type, size, or complexity—the power to monitor and manage their IT services, infrastructures, and applications; whether on-premises, in the cloud, or via hybrid models. We continuously engage with technology professionals—IT service and operations professionals, DevOps professionals, and managed services providers (MSPs)—to understand the challenges they face in maintaining high-performing and highly available IT infrastructures and applications. The insights we gain from them, in places like our THWACK community, allow us to solve well-understood IT management challenges in the ways technology professionals want them solved. Our focus on the user and commitment to excellence in end-to-end hybrid IT management has established SolarWinds as a worldwide leader in solutions for network and IT service management, application performance, and managed services. Learn more today at www.solarwinds.com.

The SolarWinds, SolarWinds & Design, Orion, and THWACK trademarks are the exclusive property of SolarWinds Worldwide, LLC or its affiliates, are registered with the U.S. Patent and Trademark Office, and may be registered or pending registration in other countries. All other SolarWinds trademarks, service marks, and logos may be common law marks or are registered or pending registration. All other trademarks mentioned herein are used for identification purposes only and are trademarks of (and may be registered trademarks of) their respective companies.

© 2019 SolarWinds Worldwide, LLC. All rights reserved.

Contacts

Nicole Fachet

Archetype

Phone: +1-212-871-3950

nicole.fachet@archetype.co

Courtney Cantwell

SolarWinds

Phone: +1-512-682-9379

pr@solarwinds.com

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Business Wire

MAXIMUS Reports Fourth Quarter and Full Year Results for Fiscal Year 2019

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– Establishes Guidance for Fiscal Year 2020 –

RESTON, Va.–(BUSINESS WIRE)–MAXIMUS (NYSE: MMS), a leading provider of government services worldwide, today reported financial results for the three months and year ended September 30, 2019.

Highlights for fiscal year 2019 include:

  • Revenue increased to $2.89 billion driven by the November 2018 acquisition in the U.S. Federal Services Segment
  • Diluted earnings per share of $3.72
  • Total company operating margin of 11.0%
  • Cash and cash equivalents of $105.6 million at September 30, 2019
  • Solid cash generation with cash flows from operations of $356.7 million and free cash flow of $294.4 million
  • Signed year-to-date contract awards of $2.6 billion, new contracts pending (awarded, but unsigned) of $242 million, and a sales pipeline of $30.2 billion at September 30, 2019

Revenue for the fourth quarter and fiscal 2019 increased to $755.0 million and $2.89 billion, respectively, compared to $558.4 million and $2.39 billion reported for the same periods last year.

For the fourth quarter of fiscal 2019, net income attributable to MAXIMUS totaled $60.1 million, or $0.93 of diluted earnings per share. This compares to $46.3 million and $0.71, respectively, for the fourth quarter of fiscal 2018. For fiscal 2019, net income attributable to MAXIMUS totaled $240.8 million, or $3.72 of diluted earnings per share. This compares to fiscal 2018 reported net income attributable to MAXIMUS of $220.8 million and diluted earnings per share of $3.35.

The year-over-year increase in revenue and earnings was driven by the acquisition of the federal citizen engagement centers business which was completed on November 16, 2018. If the acquisition had occurred on October 1, 2018, revenue and diluted earnings per share would have been approximately $2.985 billion and $3.77, respectively, on a pro-forma basis.

U.S. Health and Human Services Segment

U.S. Health and Human Services Segment revenue for the fourth quarter of fiscal 2019 increased 4% to $300.4 million, compared to $288.9 million reported for the same period last year driven by new work. Operating income for the fourth quarter totaled $53.8 million (17.9% operating margin), compared to $52.2 million (18.1% operating margin) for the same period last year.

For the full fiscal year, U.S. Health and Human Services Segment revenue decreased 3% to $1.18 billion, compared to $1.21 billion for the same period last year. As previously disclosed, revenue was lower due to forecasted changes on several sizable contracts that were rebid and won, extended, or where option periods were exercised. Fiscal 2019 operating income totaled $220.8 million (18.8% operating margin), compared to operating income of $218.6 million (18.0% operating margin) for fiscal 2018.

U.S. Federal Services Segment

As expected, U.S. Federal Services Segment revenue for the fourth quarter of fiscal 2019 increased to $312.2 million, compared to $117.4 million reported for the same period last year. Operating income for the fourth quarter totaled $31.1 million (10.0% operating margin), compared to $16.0 million (13.6% operating margin) for the same period last year.

For the full fiscal year, U.S. Federal Services Segment revenue increased to $1.1 billion, compared to $478.9 million for the same period last year. Fiscal 2019 operating income totaled $115.9 million (10.4% operating margin), compared to operating income of $57.4 million (12.0% operating margin) for fiscal 2018.

Revenue and operating income increases for the fourth quarter and fiscal 2019 were driven by the acquisition of the federal citizen engagement centers business completed in November 2018. The most significant contracts acquired are cost-plus which tend to generate single-digit operating margins but carry lower risk. With more cost-plus contracts in the Segment’s portfolio, the operating margin for the Segment was lower in the fourth quarter and fiscal 2019 compared to the prior year periods.

Outside the U.S. Segment

Outside the U.S. Segment revenue for the fourth quarter of fiscal 2019 decreased 6% (2% on a constant currency basis) to $142.4 million, compared to $152.1 million for the same period last year. The Segment had operating income for the fourth quarter of $2.2 million (1.5% operating margin), compared to an operating loss of $0.9 million for the same period last year, which was tempered by the jobactive program that was rebid and launched on July 1, 2018.

For the full fiscal year, Outside the U.S. Segment revenue decreased 14% (9% on a constant currency basis) to $599.1 million, compared to $699.4 million for the same period last year. The year-over-year revenue decrease was driven by: 1) the ending of the Work Programme and Work Choice contracts which accounted for $36 million of the decline; 2) unfavorable currency translation of $35 million and; 3) lower pass-through revenue for support services tied to the jobactive program in Australia totaling $16 million. Fiscal 2019 operating income totaled $16.1 million (2.7% operating margin), compared to operating income of $36.0 million (5.1% operating margin) for fiscal 2018.

The Segment has experienced a slowdown in its employment services business as a result of low unemployment in the countries where we operate which has led to lower caseloads and volumes. The Segment has a handful of new contracts progressing towards profitability but they are unfavorable to earnings in the near-term.

Sales Awards and Pipeline

Year-to-date signed contract awards totaled $2.6 billion at September 30, 2019. The value of new contracts pending at September 30, 2019, (awarded but unsigned) was $242 million.

The sales pipeline at September 30, 2019, was approximately $30.2 billion (comprised of approximately $2.9 billion in proposals pending, $1.2 billion in proposals in preparation and $26.1 billion in opportunities tracking).

Balance Sheet and Cash Flows

Cash, cash equivalents and short-term investments at September 30, 2019, totaled $105.6 million. For the fourth quarter of fiscal 2019, cash flows from operations were $93.0 million, with free cash flow of $65.2 million. For fiscal 2019, cash flows from operations were $356.7 million with free cash flow of $294.4 million.

At September 30, 2019, days sales outstanding (DSO) were 72 days.

On August 30, 2019, MAXIMUS paid a quarterly cash dividend of $0.25 per share. On October 10, 2019, the Company announced a $0.28 per share cash dividend, payable on November 29, 2019, to shareholders of record on November 15, 2019.

Outlook

MAXIMUS is establishing fiscal 2020 guidance. The Company expects revenue to range between $3.15 billion and $3.30 billion. The Company expects diluted earnings per share to range between $3.95 and $4.15. The Company expects cash flows from operations to range between $300 million and $350 million, and free cash flow to range between $275 million and $325 million.

For fiscal 2020, the Company has estimated its effective income tax rate to range between 24.5% and 25.5% and weighted average shares outstanding of approximately 64.9 million.

Bruce Caswell, President and Chief Executive Officer of MAXIMUS, commented, “We finished fiscal 2019 with solid top- and bottom-line growth driven principally by the acquisition of the federal citizen engagement centers business last November. The acquisition enabled us to build scale, expand our customer base, improve our competitive position and bring on new technology platforms in the federal market. As we look into fiscal 2020 and beyond, we are pleased with the substantial progress we have made on our strategic plan to lead a digital transformation, grow our clinically related services, and expand in key priority markets and adjacencies.”

Website Presentation, Conference Call and Webcast Information

MAXIMUS will host a conference call this morning, November 19, 2019, at 9:00 a.m. (ET). The call is open to the public and can be accessed under the Investor Relations page of the Company’s website at investor.maximus.com or by calling:

877.407.8289 (Domestic)/+1.201.689.8341 (International)

For those unable to listen to the live call, a replay will be available through December 3, 2019, by calling:

877.660.6853 (Domestic)/+1.201.612.7415 (International)

Replay conference ID number: 13695553

About MAXIMUS

Since 1975, MAXIMUS has operated under its founding mission of Helping Government Serve the People®, enabling citizens around the globe to successfully engage with their governments at all levels and across a variety of health and human services programs. MAXIMUS delivers innovative business process management and technology solutions that contribute to improved outcomes for citizens and higher levels of productivity, accuracy, accountability and efficiency of government-sponsored programs. With approximately 30,000 employees worldwide, MAXIMUS is a proud partner to government agencies in the United States, Australia, Canada, Saudi Arabia, Singapore and the United Kingdom. For more information, visit maximus.com.

Non-GAAP and Other Measures

This release refers to non-GAAP financial measures, including free cash flow, constant currency, and days sales outstanding.

We have provided a reconciliation of free cash flow to cash flows from operations.

A description of these non-GAAP measures, the reasons why we use and present them and details as to how they are calculated are included in our Annual Report on Form 10-K.

The presentation of these non-GAAP numbers is not meant to be considered in isolation, nor as alternatives to cash flows from operations, revenue growth or net income as measures of performance. These non-GAAP financial measures, as determined and presented by us, may not be comparable to related or similarly titled measures presented by other companies.

Statements that are not historical facts, including statements about the Company’s confidence and strategies and the Company’s expectations about revenues, results of operations, profitability, future contracts, market opportunities, market demand or acceptance of the Company’s products are forward-looking statements that involve risks and uncertainties. These risks could cause the Company’s actual results to differ materially from those indicated by such forward-looking statements. A summary of risk factors can be found in Exhibit 99.1 to the Company’s most recent Annual Report filed with the Securities and Exchange Commission, found on maximus.com.

 

MAXIMUS, Inc.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except per share data)

 

 

Three Months Ended September 30,

 

Twelve Months Ended September 30,

 

2019

 

2018

 

2019

 

2018

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

 

Revenue

$

754,966

 

$

558,446

 

$

2,886,815

 

$

2,392,236

Cost of revenue

586,716

 

419,508

 

2,215,631

 

1,797,851

Gross profit

168,250

 

138,938

 

671,184

 

594,385

Selling, general and administrative expenses

81,646

 

73,535

 

321,023

 

285,241

Amortization of intangible assets

9,028

 

2,462

 

33,054

 

10,308

Restructuring costs

 

1,033

 

 

3,353

Operating income

77,576

 

61,908

 

317,107

 

295,483

Interest expense

343

 

590

 

2,957

 

1,000

Other income, net

122

 

798

 

3,170

 

4,726

Income before income taxes

77,355

 

62,116

 

317,320

 

299,209

Provision for income taxes

17,314

 

16,600

 

76,825

 

78,393

Net income

60,041

 

45,516

 

240,495

 

220,816

(Loss)/income attributable to noncontrolling interests

(48)

 

(791)

 

(329)

 

65

Net income attributable to MAXIMUS

$

60,089

 

$

46,307

 

$

240,824

 

$

220,751

Basic earnings per share attributable to MAXIMUS

$

0.93

 

$

0.71

 

$

3.73

 

$

3.37

Diluted earnings per share attributable to MAXIMUS

$

0.93

 

$

0.71

 

$

3.72

 

$

3.35

Dividends per share

$

0.25

 

$

0.045

 

$

1.00

 

$

0.18

Weighted average shares outstanding:

 

 

 

 

 

 

 

Basic

64,397

 

65,034

 

64,498

 

65,501

Diluted

64,848

 

65,402

 

64,820

 

65,932

 

MAXIMUS, Inc.

CONSOLIDATED BALANCE SHEETS

(Amounts in thousands)

 

 

September 30,

 

2019

 

2018

 

(Unaudited)

 

 

ASSETS

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

105,565

 

$

349,245

Short-term investments

 

20,264

Accounts receivable — billed and billable, net

476,690

 

357,613

Accounts receivable — unbilled

123,884

 

31,536

Income taxes receivable

20,805

 

5,979

Prepaid expenses and other current assets

62,481

 

43,995

Total current assets

789,425

 

808,632

Property and equipment, net

99,589

 

77,544

Capitalized software, net

32,369

 

22,429

Goodwill

584,469

 

399,882

Intangible assets, net

179,250

 

88,035

Deferred contract costs, net

18,921

 

14,380

Deferred compensation plan assets

32,908

 

34,305

Deferred income taxes

186

 

6,834

Other assets

8,615

 

9,959

Total assets

$

1,745,732

 

$

1,462,000

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

Current liabilities:

 

 

 

Accounts payable and accrued liabilities

$

177,786

 

$

114,378

Accrued compensation and benefits

106,789

 

95,555

Deferred revenue

43,344

 

51,182

Income taxes payable

13,952

 

4,438

Long-term debt, current portion

9,658

 

136

Other liabilities

12,709

 

11,760

Total current liabilities

364,238

 

277,449

Deferred revenue, less current portion

32,341

 

20,394

Deferred income taxes

46,560

 

26,377

Deferred compensation plan liabilities, less current portion

34,079

 

33,497

Other liabilities

20,313

 

17,864

Total liabilities

497,531

 

375,581

Commitments and contingencies

 

 

 

Shareholders’ equity:

 

 

 

Common stock

498,433

 

487,539

Accumulated other comprehensive loss

(45,380)

 

(36,953)

Retained earnings

794,739

 

633,281

Total MAXIMUS shareholders’ equity

1,247,792

 

1,083,867

Noncontrolling interests

409

 

2,552

Total equity

1,248,201

 

1,086,419

Total liabilities and equity

$

1,745,732

 

$

1,462,000

 

MAXIMUS, Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands)

(Unaudited)

 

 

 

Three Months Ended September 30,

 

Twelve Months Ended September 30,

 

 

2019

 

2018

 

2019

 

2018

Cash flows from operations:

 

 

 

 

 

 

 

 

Net income

 

$

60,041

 

$

45,516

 

$

240,495

 

$

220,816

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization of property, plant, equipment and capitalized software

 

17,816

 

11,982

 

52,404

 

51,884

Amortization of intangible assets

 

9,028

 

2,462

 

33,054

 

10,308

Deferred income taxes

 

1,465

 

(2,153)

 

12,661

 

6,721

Stock compensation expense

 

5,451

 

4,525

 

20,774

 

20,238

Changes in assets and liabilities, net of effects of business combinations:

 

 

 

 

 

 

 

 

Accounts receivable — billed and billable

 

47,818

 

40,822

 

(60,313)

 

34,033

Accounts receivable — unbilled

 

(31,354)

 

4,608

 

14,818

 

4,920

Prepaid expenses and other current assets

 

(12,650)

 

(552)

 

(15,583)

 

4,954

Deferred contract costs

 

3,472

 

(402)

 

(4,670)

 

1,838

Accounts payable and accrued liabilities

 

(5,882)

 

15,971

 

47,580

 

(7,725)

Accrued compensation and benefits

 

(6,994)

 

7,040

 

2,288

 

(8,795)

Deferred revenue

 

8,631

 

(1,311)

 

16,488

 

(27,039)

Income taxes

 

(7,859)

 

1,349

 

(4,720)

 

7,262

Other assets and liabilities

 

4,033

 

(1,399)

 

1,451

 

(2,641)

Cash flows from operations

 

93,016

 

128,458

 

356,727

 

316,774

 

 

 

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Purchases of property and equipment and capitalized software costs

 

(27,813)

 

(4,968)

 

(66,846)

 

(26,520)

Acquisition of businesses, net of cash acquired

 

(14,790)

 

 

(436,839)

 

Acquisition of noncontrolling interests

 

(647)

 

 

(647)

 

(157)

Maturities/(purchases) of short-term investments

 

 

 

19,996

 

(19,996)

Other

 

73

 

238

 

453

 

1,436

Cash used in investing activities

 

(43,177)

 

(4,730)

 

(483,883)

 

(45,237)

 

 

 

 

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Cash dividends paid to MAXIMUS shareholders

 

(15,951)

 

(2,891)

 

(63,887)

 

(11,692)

Purchases of MAXIMUS common stock

 

(1,378)

 

(4,932)

 

(47,446)

 

(66,919)

Tax withholding related to RSU vesting

 

 

 

(8,915)

 

(8,529)

Borrowings under credit facility and other loan agreements

 

94,616

 

1,949

 

414,664

 

136,632

Repayment of credit facility and other long-term debt

 

(88,545)

 

(1,983)

 

(405,142)

 

(136,769)

Other

 

 

(545)

 

(133)

 

(4,603)

Cash used in financing activities

 

(11,258)

 

(8,402)

 

(110,859)

 

(91,880)

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes on cash

 

(1,058)

 

(1,111)

 

(2,052)

 

(2,825)

 

 

 

 

 

 

 

 

 

Net increase/(decrease) in cash and cash equivalents

 

37,523

 

114,215

 

(240,067)

 

176,832

 

 

 

 

 

 

 

 

 

Cash, cash equivalents and restricted cash, beginning of period

 

78,969

 

242,344

 

356,559

 

179,727

 

 

 

 

 

 

 

 

 

Cash, cash equivalents and restricted cash, end of period

 

$

116,492

 

$

356,559

 

$

116,492

 

$

356,559

 

MAXIMUS, Inc.

SEGMENT INFORMATION

(Amounts in thousands)

(Unaudited)

 

 

 

Three Months Ended September 30,

 

Twelve Months Ended September 30,

 

 

2019

 

% (1)

 

2018

 

% (1)

 

2019

 

% (1)

 

2018

 

% (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Health & Human Services

 

$

300,406

 

100 %

 

$

288,944

 

100 %

 

$

1,176,488

 

100 %

 

$

1,213,911

 

100 %

U.S. Federal Services

 

312,179

 

100 %

 

117,375

 

100 %

 

1,111,197

 

100 %

 

478,911

 

100 %

Outside the U.S.

 

142,381

 

100 %

 

152,127

 

100 %

 

599,130

 

100 %

 

699,414

 

100 %

Total

 

$

754,966

 

100 %

 

$

558,446

 

100 %

 

$

2,886,815

 

100 %

 

$

2,392,236

 

100 %

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Health & Human Services

 

$

83,154

 

27.7 %

 

$

87,382

 

30.2 %

 

$

344,109

 

29.2 %

 

$

359,624

 

29.6 %

U.S. Federal Services

 

66,586

 

21.3 %

 

33,690

 

28.7 %

 

242,070

 

21.8 %

 

126,698

 

26.5 %

Outside the U.S.

 

18,510

 

13.0 %

 

17,866

 

11.7 %

 

85,005

 

14.2 %

 

108,063

 

15.5 %

Total

 

$

168,250

 

22.3 %

 

$

138,938

 

24.9 %

 

$

671,184

 

23.2 %

 

$

594,385

 

24.8 %

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Health & Human Services

 

$

29,322

 

9.8 %

 

$

35,187

 

12.2 %

 

$

123,275

 

10.5 %

 

$

140,990

 

11.6 %

U.S. Federal Services

 

35,496

 

11.4 %

 

17,725

 

15.1 %

 

126,128

 

11.4 %

 

69,312

 

14.5 %

Outside the U.S.

 

16,353

 

11.5 %

 

18,811

 

12.4 %

 

68,944

 

11.5 %

 

72,095

 

10.3 %

Other

 

475

 

NM

 

1,812

 

NM

 

2,676

 

NM

 

2,844

 

NM

Total

 

$

81,646

 

10.8 %

 

$

73,535

 

13.2 %

 

$

321,023

 

11.1 %

 

$

285,241

 

11.9 %

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Health & Human Services

 

$

53,832

 

17.9 %

 

$

52,195

 

18.1 %

 

$

220,834

 

18.8 %

 

$

218,634

 

18.0 %

U.S. Federal Services

 

31,090

 

10.0 %

 

15,965

 

13.6 %

 

115,942

 

10.4 %

 

57,386

 

12.0 %

Outside the U.S.

 

2,157

 

1.5 %

 

(945)

 

(0.6) %

 

16,061

 

2.7 %

 

35,968

 

5.1 %

Amortization of intangible assets

 

(9,028)

 

NM

 

(2,462)

 

NM

 

(33,054)

 

NM

 

(10,308)

 

NM

Restructuring costs

 

 

NM

 

(1,033)

 

NM

 

 

NM

 

(3,353)

 

NM

Acquisition-related expenses (2)

 

 

NM

 

(947)

 

NM

 

(2,691)

 

NM

 

(947)

 

NM

Other (3)

 

(475)

 

NM

 

(865)

 

NM

 

15

 

NM

 

(1,897)

 

NM

Total

 

$

77,576

 

10.3 %

 

$

61,908

 

11.1 %

 

$

317,107

 

11.0 %

 

$

295,483

 

12.4 %

(1)

 

Percentage of respective segment revenue. Percentages considered not meaningful are marked “NM.”

(2)

 

Acquisition-related expenses include costs for the acquisition of the citizen engagement centers business.

(3)

 

“Other” relates to various expenses which are not directly attributable to our segments, including litigation costs.

 

MAXIMUS, Inc.

FREE CASH FLOW

(Non-GAAP measure)

(Amounts in thousands)

(Unaudited)

 

 

 

Three Months Ended September 30,

 

Twelve Months Ended September 30,

 

 

2019

 

2018

 

2019

 

2018

 

 

 

 

 

 

 

 

 

Cash provided by operations

 

$

93,016

 

$

128,458

 

$

356,727

 

$

316,774

Purchases of property and equipment and capitalized software costs

 

(27,813)

 

(4,968)

 

(66,846)

 

(26,520)

Capital expenditure as a result of the acquisition

 

 

 

4,542

 

Free cash flow

 

$

65,203

 

$

123,490

 

$

294,423

 

$

290,254

 

 

 

 

 

 

 

 

 

 

Contacts

Lisa Miles 703.251.8637

lisamiles@maximus.com

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Business Wire

NICE Actimize Recognized for the Fifth Consecutive Year in the Chartis 2020 RiskTech100® Rankings for Overall Value and Innovation in Financial Crime

Business Wire

Published

on

Reading Time: 4 minutes

Achieving a top ten ranking in the RiskTech100, NICE Actimize scored among the highest average scores across functionality, core technology, strategy, customer satisfaction, market presence and innovation

HOBOKEN, N.J.–(BUSINESS WIRE)–NICE Actimize, a NICE (NASDAQ: NICE) business, and a leader in Autonomous Financial Crime Management, has been recognized by Chartis Research as a winner for Financial Crime Risk Management (FCRM) in its recently released 2020 RiskTech100® rankings. Specifically, NICE Actimize was named the winner in Financial Crime – Anti-Money Laundering, securing a financial crime honor for the fifth consecutive year. Reflecting overall value delivered to the financial services market, NICE Actimize excelled in both innovation and customer satisfaction.

In addition to the anti-money laundering leadership ranking, NICE Actimize also maintained its position in the “Top Ten” of Chartis’ comprehensive list of top 100 global vendors in risk and compliance technology, achieving its fourth consecutive year in the top ten rankings. Chartis Research, part of Infopro Digital, is a leading provider of research and analysis on the global market for risk technology.

The Chartis RiskTech100® ranking assessment criteria comprise six equally-weighted categories: functionality, core technology, strategy, customer satisfaction, market presence and innovation. This year’s RiskTech 100® rankings also focused on solutions, industry segments and success factors. The RiskTech100® only includes companies that sell their own risk management software products and solutions.

Rob Stubbs, Head of Research, Chartis Research

“As Anti-Money Laundering moves beyond its core compliance areas, solution vendors are having to consider ancillary sectors where it is relatively immature, such as trade finance, gambling and the burgeoning FinTech sector. While these areas offer new opportunities, they also bring their own challenges and impacts for the vendor landscape, in terms of addressing the wide range of firms and requirements they contain. In addition to its technology strengths and the overall value reflected in its total averaged scores, Chartis has noticed that NICE Actimize is addressing these emerging market sectors and more with specifically targeted AML solutions. We congratulate NICE Actimize on this year’s success.”

Craig Costigan, CEO, NICE Actimize

“The industry is faced with a paradigm shift as digital and online banking is impacting traditional operating models. Financial services organizations need to automate faster than ever before, provide a ‘frictionless’ customer experience, and scale on-demand. Being in the Cloud is a must to compete today and ultimately achieve customer satisfaction. The market looks to NICE Actimize to help them with this “transformation” and journey. This means growth and new opportunities across the board as we race to stay at the forefront. Thank you to Chartis for honoring our market leadership in financial crime and anti-money laundering capabilities.”

About Chartis

Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. The goal of Chartis Research is to support enterprises as they drive business performance through improved risk management, corporate governance and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.

RiskTech Quadrant®, RiskTech100® and FinTech QuadrantTM are registered trademarks of Infopro Digital Services Limited (http://www.chartis-research.com).

About NICE Actimize

NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumers and investors assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading. Find us at www.niceactimize.com, @NICE_Actimize or Nasdaq: NICE.

About NICE

NICE (Nasdaq:NICE) is the world’s leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Costigan, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the Company). In some cases, such forward-looking statements can be identified by terms such as believe, expect, may, will, intend, project, plan, estimate or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of the global economic environment on the Company’s customer base (particularly financial services firms) potentially impacting our business and financial condition; competition; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; and the effect of newly enacted or modified laws, regulation or standards on the Company and our products. For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the Securities and Exchange Commission, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Corporate Media:

Cindy Morgan-Olson, +1-551-256-5000

NICE Actimize

cindy.morgan-olson@niceactimize.com

Investors:

Marty Cohen, +1 551 256 5354, ET

ir@nice.com

Yisca Erez, +972-9-775-3798, CET

ir@nice.com

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