The GEO Group Inc Issues FY 2013 Revenue And FFO Guidance Below Analysts' Estimates; Reaffirms FY 2013 EBITDA Guidance; Issues Q1 2013 Revenue Guidance Below Analysts' Estimates

The GEO Group Inc announced that for fiscal 2013, it expects adjusted funds from operations (AFFO) to be in a range of $2.78-$2.92 per diluted share, on a GAAP basis, income from continuing operations to be in a range of $1.70-$1.80 per diluted share, revenues in a range of $1.51-$1.55 billion, net operating income in a range of $410-$420 million and adjusted EBITDA in a range of $320-$330 million. For the first quarter of 2013, it expects AFFO to be in a range of $0.63-$0.70 per share, income from continuing operations to be in a range of $0.38-$0.40 per diluted share, revenues to be in a range of $377.0-$382.0 million. The first quarter of 2013 guidance reflects approximately $0.03-$0.04 per share in additional employment tax expense as a result of the seasonality in unemployment taxes, which are front-loaded in the first quarter of 2013. According to I/B/E/S Estimates, analysts were expecting the Company to report adjusted funds from operation of $2.34, revenue of $1.65 billion, EBITDA of $326 million for fiscal 2013 and revenue of $415.1 million for the first quarter of 2013.