The GEO Group Reports Fourth Quarter 2012 Results

GEO reported total revenues for the fourth quarter 2012 of $378.7 million compared to total revenues of $354.5 million for the fourth quarter 2011. GEO reported fourth quarter 2012 income from continuing operations of $1.55 per diluted share, compared to $0.28 per diluted share for the fourth quarter 2011.

GEO’s fourth quarter 2012 earnings reflect a positive adjustment of $79.0 million related to the elimination of certain net deferred tax liabilities associated with GEO’s REIT conversion; $0.8 million, after-tax, in start-up/transition expenses; $0.9 million, after-tax, in international bid related costs; and $9.0 million, after-tax, in REIT conversion related expenses. Excluding these items, GEO reported Pro Forma income from continuing operations of $0.44 per diluted share, for the fourth quarter 2012 compared to $0.36 per diluted share for the fourth quarter 2011.

Full Year 2012 Highlights

• Income from Continuing Operations of $2.36 Per Diluted Share
• Pro Forma Income from Continuing Operations of $1.49 Per Diluted Share
• Net Operating Income of $389.8 million
• Normalized FFO of $3.19 Per Diluted Share
• AFFO of $3.52 Per Diluted Share

For the full year 2012, GEO reported Normalized FFO of $195.6 million, or $3.19 per diluted share, an increase of 13.4% from $172.5 million, or $2.71 per Diluted Share, for the full year 2011. GEO reported full year 2012 AFFO of $215.7 million, or $3.52 per diluted share, an increase of 16.9% from $184.6 million, or $2.90 per diluted share, for the full year 2011.

Net operating income for the full year 2012 increased to $389.8 million from $371.2 million for the full year 2011.

GEO reported total revenues for the full year 2012 of $1.48 billion compared to total revenues of $1.41 billion for the full year 2011. GEO reported full year 2012 income from continuing operations of $2.36 per diluted share, compared to $1.09 per diluted share for the full year 2011.

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