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8-K - 8-K - MAXIMUS, INC. | a13-15323_18k.htm |
Exhibit 99.1
MAXIMUS, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
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Year |
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Quarter Ended |
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Ended |
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Quarter Ended |
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Dec. 31, |
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Mar. 31, |
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Jun. 30, |
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Sept. 30, |
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Sept. 30, |
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Dec. 31, |
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Mar. 31, |
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2011 |
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2012 |
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2012 |
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2012 |
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2012 |
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2012 |
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2013 |
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Revenue |
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$ |
239,603 |
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$ |
243,452 |
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$ |
266,353 |
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$ |
300,737 |
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$ |
1,050,145 |
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$ |
286,266 |
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$ |
326,351 |
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Cost of revenue |
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179,756 |
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178,686 |
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187,652 |
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216,108 |
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762,202 |
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209,736 |
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228,907 |
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Gross profit |
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59,847 |
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64,766 |
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78,701 |
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84,629 |
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287,943 |
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76,530 |
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97,444 |
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Selling, general and administrative expenses |
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32,756 |
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37,959 |
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43,877 |
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42,810 |
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157,402 |
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42,222 |
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46,693 |
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Acquisition-related expenses |
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233 |
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1,877 |
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766 |
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2,876 |
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148 |
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16 |
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Legal and settlement expense (recovery) |
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186 |
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(824 |
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(352 |
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1,080 |
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90 |
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142 |
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Income from operations |
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26,905 |
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27,398 |
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33,299 |
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39,973 |
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127,575 |
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34,018 |
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50,735 |
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Interest and other income, net |
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1,104 |
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824 |
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1,164 |
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1,084 |
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4,176 |
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1,106 |
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637 |
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Income before income taxes |
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28,009 |
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28,222 |
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34,463 |
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41,057 |
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131,751 |
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35,124 |
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51,372 |
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Provision for income taxes |
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10,351 |
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14,011 |
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13,987 |
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17,303 |
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55,652 |
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13,341 |
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19,658 |
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Income from continuing operations |
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17,658 |
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14,211 |
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20,476 |
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23,754 |
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76,099 |
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21,783 |
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31,714 |
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Discontinued operations, net of income taxes: |
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Income (loss) from discontinued operations |
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(503 |
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(91 |
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Gain/(loss) on disposal |
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46 |
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62 |
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9 |
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(83 |
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34 |
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36 |
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66 |
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Income from discontinued operations |
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46 |
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62 |
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9 |
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(83 |
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34 |
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(467 |
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(25 |
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Net income |
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$ |
17,704 |
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$ |
14,273 |
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$ |
20,485 |
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$ |
23,671 |
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$ |
76,133 |
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$ |
21,316 |
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$ |
31,689 |
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Basic earnings (loss) per share: |
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Income from continuing operations |
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$ |
0.26 |
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$ |
0.21 |
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$ |
0.30 |
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$ |
0.35 |
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$ |
1.12 |
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$ |
0.32 |
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$ |
0.47 |
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Income (loss) from discontinued operations |
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(0.01 |
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(0.01 |
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Basic earnings per share |
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$ |
0.26 |
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$ |
0.21 |
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$ |
0.30 |
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$ |
0.35 |
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$ |
1.12 |
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$ |
0.31 |
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$ |
0.46 |
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Diluted earnings (loss) per share: |
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Income from continuing operations |
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$ |
0.26 |
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$ |
0.21 |
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$ |
0.29 |
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$ |
0.34 |
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$ |
1.09 |
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$ |
0.31 |
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$ |
0.45 |
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Income (loss) from discontinued operations |
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Diluted earnings per share |
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$ |
0.26 |
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$ |
0.21 |
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$ |
0.29 |
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$ |
0.34 |
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$ |
1.09 |
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$ |
0.31 |
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$ |
0.45 |
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Dividends per share |
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$ |
0.045 |
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$ |
0.045 |
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$ |
0.045 |
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$ |
0.045 |
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$ |
0.18 |
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$ |
0.045 |
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$ |
0.045 |
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Weighted average shares outstanding: |
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Basic |
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67,325 |
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67,576 |
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67,946 |
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68,089 |
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67,734 |
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68,162 |
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68,179 |
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Diluted |
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69,115 |
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69,455 |
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69,736 |
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70,066 |
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69,611 |
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69,752 |
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69,909 |
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MAXIMUS, Inc.
Adjusted diluted earnings per share
(Unaudited)
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Year |
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Quarter Ended |
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Ended |
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Quarter Ended |
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Dec. 31, |
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Mar. 31, |
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Jun. 30, |
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Sept. 30, |
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Sept. 30, |
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Dec. 31, |
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Mar. 31, |
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2011 |
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2012 |
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2012 |
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2012 |
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2012 |
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2012 |
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2013 |
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Adjusted diluted earnings per share: |
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GAAP Diluted EPS from continuing operations |
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$ |
0.26 |
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$ |
0.21 |
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$ |
0.29 |
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$ |
0.34 |
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$ |
1.09 |
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$ |
0.31 |
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$ |
0.45 |
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Legal & settlement expense and acquisition-related expenses |
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0.02 |
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0.01 |
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0.03 |
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Terminated contract |
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(0.09 |
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Tax adjustments |
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0.03 |
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0.02 |
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0.06 |
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Adjusted diluted EPS |
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$ |
0.26 |
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$ |
0.24 |
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$ |
0.31 |
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$ |
0.37 |
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$ |
1.18 |
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$ |
0.31 |
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$ |
0.36 |
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