CCA: Q1 Earnings Snapshot

Associated Press Finance
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BRENTWOOD, Tenn. (AP) — BRENTWOOD, Tenn. (AP) — Corrections Corp. of America (CXW) on Wednesday reported a key measure of profitability in its first quarter.

The Brentwood, Tennessee-based real estate investment trust said it had funds from operations of $38.9 million, or 34 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 $12.4 million, or 11 cents per share.

The prison operator, based in Brentwood, Tennessee, posted revenue of $458 million in the period.

CCA expects full-year funds from operations in the range of $1.31 to $1.42 per share.

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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

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