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| CCA cuts outlook |
| By The Associated Press |
| Published: 11/10/2008 |
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TENNESSEE - Corrections Corp. of America on Thursday cut its profit forecasts for the fourth quarter and the full year, citing delays in inmate transfers from the state of California and delays in negotiating a new federal contract. The private prison operator also posted third-quarter profit results that fell short of Wall Street expectations, and shares fell sharply. The company now expects fourth-quarter profit between 30 cents and 32 cents per share, down from its prior outlook of 33 cents to 35 cents per share. Analysts polled by Thomson Reuters, on average, expect profit of 34 cents per share in the fourth quarter, with estimates ranging from 33 cents to 35 cents per share. Read more. If link has expired, check the website of the article's original news source. |
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