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4-Traders Homepage  >  Equities  >  Nyse  >  Corrections Corp Of America    CXW

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CRCTN CRP OF AMRCA : CCA Renews Contracts with Texas Department of Criminal Justice

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08/24/2011 | 06:50pm CET

August 24, 2011

CCA Renews Contracts with Texas Department of Criminal Justice

BridgeportMineral Wells Texas Facilities Reach New Management Agreements

NASHVILLE, Tenn. – CCA, America's leader in partnership corrections, has reached agreement with the Texas Department of Criminal Justice to extend its management contracts at the BridgeportMineral Wells Pre Parole Transfer Facilities. The agreements, following a competitive procurement process by the state, enable the Nashville based CCA to continue providing services at both Texas facilities to September 2013 with the option of an extension through 2017.

"CCA is thrilled to be maintaining its long standing relationship with the Texas Department of Criminal Justice as a trusted partner in the communities of BridgeportMineral Wells," said Tony Grande, CCA Executive Vice PresidentChief Development Officer. "As a partner with the State of Texas for nearly three decades, CCA is proud to continue in its mission of providing the citizens of Texas with safesecure correctional services."

CCA BridgeportMineral Wells, located just 45 minutes northwest of Dallas-Fort Worth, house pre-parole minimum security inmates. Bridgeport is a female only facilityMineral Wells houses males. Both facilities have been ownedmanaged by CCA since 1995.

"CCA is proud of its outstanding track record of providing meaningful rehabilitation services to Texas offenders at a cost savings to the state." said Jack Garner, CCA Managing Director of Facility Operations. "We look forward to sustaining our track record of outstanding performancesafety in our facilities."

About CCA Bridgeport

CCA Bridgeport Pre-Parole Transfer facility is located in the Wise County, Texas city of Bridgeport, which is 10 miles west of the County Seat, Decatur. The facility can accommodate up to 200 inmates with a staff of approximately 60 correctional officersemployees.

About CCA Mineral Wells

The Mineral Wells Pre-Parole Transfer Facility is located in the Wolters Industrial Park in Mineral Wells, Texas, which was once the Fort Wolters Helicopter Base that closed in the late seventies. The facility can accommodate more than 21-hundred inmates with a staff of approximately 270 correctional officersemployees.

About CCA

CCA is the nation’s largest provider of partnership corrections to federal, statelocal government, operating more than 60 facilities, including more than 40 company-owned facilities, with more than 90,000 beds, in 20 statesthe District of Columbia. In addition to providing the residential services for inmates, CCA facilities offer rehabilitationeducational programs, including education, vocation, religious services, life skillsemployment trainingsubstance abuse treatment. For more information, visit: .

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Financials ($)
Sales 2017 1 782 M
EBIT 2017 256 M
Net income 2017 177 M
Debt 2017 1 363 M
Yield 2017 5,21%
P/E ratio 2017 21,73
P/E ratio 2018 22,60
EV / Sales 2017 2,91x
EV / Sales 2018 3,01x
Capitalization 3 829 M
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Average target price 36,3 $
Spread / Average Target 12%
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NameTitle
Damon T. Hininger President, Chief Executive Officer & Director
Mark A. Emkes Independent Chairman
David M. Garfinkle CFO, Principal Accounting Officer & Executive VP
Donna M. Alvarado Independent Director
C. Michael Jacobi Independent Director
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