Tuesday, Corrections Corp. Of America (CXW) reported fourth-quarter net income of $42.5 million or $0.36 per share, compared to net income of $40.5 million or $0.32 per share in the same quarter last year.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.34 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter increased 4.0% to $427.1 million from $410.7 million in the comparable quarter last year. The increase in revenue was primarily driven by a 4.7% increase in average daily inmate populations. Analysts expected the company to report revenue of $430.74 million for the quarter.
Looking ahead to the first quarter, the company expects earnings in the range of $0.28 - $0.30 per share. Analysts currently anticipate the company to earn $0.33 per share for the quarter.
For the full year 2010, the company expects earnings in the range of $1.16 - $1.26 per share. The company also expects adjusted free cash flow per share in the range of $1.83 - $1.99. Analysts currently anticipate the company to earn $1.33 per share for the full year.
The company also noted that its board approved a stock repurchase program of up to $250.0 million of its common stock effective through June 30, 2011.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.