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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.