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Corrections Corporation of America Message Board

  • flipper_58 flipper_58 Nov 16, 2000 2:51 PM Flag

    axel hose...numbers

    According to the news release, the combined
    organizations has EBITDA(earnings before interest,taxes,deprec.
    and amort.) of $34mm. Interest and pref. divs. for
    the operting company and the holding company were
    combined $128mm for nine months. The $34mm excludes large
    write offs. So Earnings before taxes and non-cash
    exenses is negative $94mm for 9 months or -$125mm for one
    year annualized. This is of course rough but still
    based on the recent numbers put out.Debt costs are thru
    the roof.

    Looking at the operating company for
    6 months and stipping out all the cross revenues
    between CCA and then PZN....for 9 months $420mm
    Rev....oper. expenses $337...SG&A $25mm...for net of $58mm
    (excluding non-cash items).

    It's very clear who one
    of the bogey men is, the bank LOC. It's also pretty
    clear whats going to have to happen, get the debt load
    down and that's going to have to happen with asset
    sales I would assume. Sure cutting costs makes a
    difference but not when the bank group pig piles on them
    with usery rates.

    Nov. 17 is the dateline for
    an answer from the banks on what's to happen with
    their bank breach.

    What's your and others
    thought? NewMK?

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