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Corrections Corporation of America Message Board

zeroqpon 2 posts  |  Last Activity: Nov 10, 2008 2:41 PM Member since: Oct 5, 2007
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  • Any insights as to why CXW has sold off to multiyr lows? Earnings weren't quite as stellar as anticipated, but what the heck. This is a stable growth company...no crazy credit exposure/financing issues if you believe the filings...good business for a recessionary environment as well.

    What gives?

    Have heard concerns that the incoming gov't adminstration may seek to reduce reliance on private jailers, but why? Too much capital required to build new beds that the gov't simply cannot afford to dole out given their other priorities.

    Oh and competitor GEO trades at a higher PEG multiple and operating margins are significantly less.

    Don't get it.

  • SMA is a powerful company in its space, serving an increasingly healthy set of customers in the orthopedic device field. Today's sell-off is a buying opportunity, as the potential restatement is limited to the UK sub and pertains to a period extending longer than a decade. The UK segment of SMA's business is growing very quickly, but it accounts for only 20% of revenues. Additionally, in 1 years' time SMA has been able to ween its dependence on the big orthopedic companies where now they book about 50% of their revenues, down from 58% 12 months ago. Operationally, SMA has come a long way over the past few years.

    Got in today (albeit at a paper loss for the moment) at $16.66. Biomet, Zimmer, DePuy, Smith-Nephew; they are all bidding out a significant volume of instrument builds, and there is no end in sight (particularly with the DOJ settlement now behind them). Great longer-term play with good potential for a quick recovery. See their BSC slide presentation from last month here: http://library.corporate-ir.net/library/18/180/180415/items/260949/SMABearStearns2007.pdf

CXW
35.71+0.05(+0.14%)Aug 22 4:02 PMEDT

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