This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The GEO Group Reports Fourth Quarter 2011 Results And Announces Adoption Of Cash Dividend Policy

The GEO Group, Inc. (NYSE: GEO) (“GEO”) today reported its financial results for the fourth quarter and full year 2011 and announced that GEO’s Board of Directors (GEO’s “Board”) has adopted a dividend policy and expects to declare quarterly cash dividends beginning in the fourth quarter of 2012.

Financial Results - Fourth Quarter 2011 Compared with Fourth Quarter 2010

GEO reported total revenues for the fourth quarter 2011 of $406.5 million compared to total revenues of $374.4 million for the fourth quarter 2010. GEO reported net income for the fourth quarter 2011 of $18.6 million, or $0.30 per diluted share, compared to net income of $23.0 million, or $0.36 per diluted share for the fourth quarter of 2010. GEO’s fourth quarter 2011 net income includes $5.2 million, after-tax, in start-up/transition expenses and a $0.1 million after-tax income effect related to the loss attributable to non-controlling interests.

Excluding these items, GEO reported Pro Forma net income of $23.9 million, or $0.39 per diluted share, for the fourth quarter 2011 compared to Pro Forma net income of $26.7 million, or $0.41 per diluted share for the fourth quarter 2010. Fourth quarter 2011 Adjusted EBITDA increased to $81.5 million from $68.4 million in the fourth quarter 2010. Adjusted Funds from Operations for the fourth quarter 2011 increased to $47.6 million, or $0.77 per diluted share, compared to $39.0 million, or $0.60 per diluted share, for the fourth quarter 2010.

George C. Zoley, Chairman and Chief Executive Officer of GEO, said: “We are pleased with our fourth quarter and year-end results, which continue to reflect sound operational performance and earnings results from our diversified business units. We have provided our initial earnings guidance for 2012 which is impacted by the deactivation of our California contracts, additional start-up and staffing expenses for our GEOAmey project as a result of incumbent employee laws in the United Kingdom, and approximately $0.15 per share in carrying costs for our idle facilities. Notwithstanding these factors, we have issued strong Adjusted Funds from Operations guidance for 2012 of $3.18 to $3.34 per share, which is indicative of what we believe is the strength of our core operations and cash flows.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 -1.04%
FB $118.08 0.55%
GOOG $695.81 0.50%
TSLA $234.18 0.80%
YHOO $35.97 -0.11%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs