BRENTWOOD, Tenn. (AP) — BRENTWOOD, Tenn. (AP) — Corrections Corp. of America (CXW) on Wednesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Brentwood, Tennessee, said it had funds from operations of $54 million, or 52 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 $26.5 million, or 26 cents per share.
The prison operator, based in Brentwood, Tennessee, posted revenue of $604 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $587.2 million.
For the year, the company reported funds from operations of $220.4 million. Revenue was reported as $2.21 billion.
CCA expects full-year funds from operations in the range of $2.54 to $2.64 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CXW at https://www.zacks.com/ap/CXW