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Corrections Corporation Of America Q1 Profit Rises

Corrections Corporation of America (CXW) Wednesday reported first-quarter net income of $57.3 million or $0.49 per share, compared to $51.7 million or $0.44 per share last year.

Normalized FFO rose to $79.5 million or $0.68 per share from last year's $72.8 million or $0.62 per share. Analysts polled by Thomson Reuters expected FFO of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter were $426.0 million, up from $404.2 million last year. Analysts estimated revenues of $425.42 million for the quarter.

Looking forward to the second quarter, the company expects normalized FFO of $0.67 to $0.69 per share. Analysts currently estimate FFO of $0.68 per share for the quarter.

For the full year 2015, the company expects normalized FFO of $2.62 to $2.70 per share. Analysts currently estimate FFO of $2.71 per share for 2015.

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