CoreCivic (CXW) FY2013 results: revenue $1.7 billion, down 1.8% on the year
CoreCivic, Inc. (CXW) reported revenue of $1.7 billion for fiscal 2013, the year ended 31 December 2013, down 1.8% on the year before. Net income was $301 million, up 91.9%, and diluted earnings per share $2.70. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$1.7 billion
-1.8% on the year
FY2009FY2013
Operating margin
14.9%
17.7% a year earlier
FY2009FY2013
Net income
$301 million
+91.9% on the year
FY2009FY2013
Diluted EPS
$2.70
+73.1% on the year
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
1,688
1,718
1,682
-1.8%
Operating income
251
305
332
-17.6%
Operating margin
14.9%
17.7%
19.7%
Interest expense
45.1
58.4
72.9
-22.7%
Pre-tax income
170
245
259
-30.7%
Income tax
-135
87.6
96.3
Effective tax rate
-79.6%
35.8%
37.2%
Net income
301
157
163
+91.9%
Net margin
17.8%
9.1%
9.7%
Diluted EPS
$2.70
$1.56
$1.54
+73.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
370
283
351
+30.4%
Capital expenditure
112
76.9
171
+45.1%
Free cash flow
258
206
180
+25.0%
Free cash flow margin
15.3%
12.0%
10.7%
Cash from investing
-126
-79.9
-172
Cash from financing
-229
-196
-149
Depreciation and amortisation
113
114
109
-0.4%
Share-based compensation
13.0
12.3
10.4
+5.2%
Buybacks
6.7
2.8
240
+138.4%
Dividends paid
299
59.8
n/a
+401.0%
Dividend per share
n/a
$0.60
$0.00
Shares outstanding at period end
116m
100m
100m
+15.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,503
1,522
1,408
-1.3%
Debt
1,205
1,112
1,245
+8.4%
Other liabilities
300
342
367
-12.2%
Total liabilities and equity
3,007
2,975
3,020
+1.1%
Fixed assets
2,547
2,569
2,609
-0.9%
Goodwill
16.1
11.2
12.0
+44.4%
Cash and equivalents
77.9
62.9
55.8
+23.9%
Receivables
245
247
270
-0.9%
Other assets
122
84.8
73.2
+43.7%
Total assets
3,007
2,975
3,020
+1.1%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.