CCA: 2Q Earnings Snapshot

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BRENTWOOD, Tenn. (AP) _ Corrections Corp. of America (CXW) on Wednesday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in Brentwood, Tennessee, said it had funds from operations of $67.8 million, or 56 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 $22.2 million, or 18 cents per share.

The prison operator, based in Brentwood, Tennessee, posted revenue of $472.6 million in the period.

The company's shares have declined 47% since the beginning of the year. The stock has declined 46% in the last 12 months.


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