CCA: 4Q Earnings Snapshot
NASHVILLE, Tenn. (AP) _ Corrections Corp. of America (CXW) on Tuesday reported a key measure of profitability in its fourth quarter.
The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $75.1 million, or 63 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $41.2 million, or 35 cents per share.
The prison operator, based in Nashville, Tennessee, posted revenue of $482.2 million in the period.
For the year, the company reported funds from operations of $273.8 million. Revenue was reported as $1.84 billion.
For the current quarter ending in April, CCA expects its per-share funds from operations to range from 58 cents to 60 cents.
The company expects full-year funds from operations in the range of $2.36 to $2.44 per share.
The company’s shares have climbed 15 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.47, a decline of almost 4 percent in the last 12 months.