CoreCivic (CXW) FY2014 results: revenue $1.6 billion, down 4.5% on the year
CoreCivic, Inc. (CXW) reported revenue of $1.6 billion for fiscal 2014, the year ended 31 December 2014, down 4.5% on the year before. Net income was $195 million, down 35.2%, and diluted earnings per share $1.66. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$1.6 billion
-4.5% on the year
FY2009FY2014
Operating margin
14.9%
14.9% a year earlier
FY2009FY2014
Net income
$195 million
-35.2% on the year
FY2009FY2014
Diluted EPS
$1.66
-38.5% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,613
1,688
1,718
-4.5%
Operating income
240
251
305
-4.3%
Operating margin
14.9%
14.9%
17.7%
Interest expense
n/a
45.1
58.4
Pre-tax income
202
170
245
+19.1%
Income tax
6.9
-135
87.6
Effective tax rate
3.4%
-79.6%
35.8%
Net income
195
301
157
-35.2%
Net margin
12.1%
17.8%
9.1%
Diluted EPS
$1.66
$2.70
$1.56
-38.5%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
424
370
283
+14.6%
Capital expenditure
263
112
76.9
+135.2%
Free cash flow
161
258
206
-37.6%
Free cash flow margin
10.0%
15.3%
12.0%
Cash from investing
-197
-126
-79.9
Cash from financing
-230
-229
-196
Depreciation and amortisation
114
113
114
+0.4%
Share-based compensation
14.0
13.0
12.3
+7.8%
Buybacks
4.0
6.7
2.8
-39.7%
Dividends paid
234
299
59.8
-21.8%
Dividend per share
$2.04
n/a
$0.60
Diluted shares, weighted
117m
n/a
n/a
Shares outstanding at period end
117m
116m
100m
+0.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,482
1,503
1,522
-1.4%
Debt
1,200
1,205
1,112
-0.4%
Other liabilities
436
300
342
+45.4%
Total liabilities and equity
3,118
3,007
2,975
+3.7%
Fixed assets
2,659
2,547
2,569
+4.4%
Goodwill
16.1
16.1
11.2
0.0%
Cash and equivalents
74.4
77.9
62.9
-4.5%
Receivables
249
245
247
+1.5%
Other assets
120
122
84.8
-1.6%
Total assets
3,118
3,007
2,975
+3.7%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.