Key Developments For America Service Group Inc.
America Service Group Inc. (ASGR.O) (Nasdaq)
America Service Group Inc. Raises Low End Of Prior FY 2009 Revenue Guidance To A Range In Line With Estimates; Lowers FY 2009 Earnings Guidance; Declares Regular Quarterly Dividend
America Service Group Inc. updated fiscal 2009 guidance for revenue to be in the range of $605.0 - $610.0 million from prior range of $600.0 - $610.0 million, GAAP net income of $5.9 million from prior range of $8.0 million and GAAP diluted net income per common share of $0.65 from prior range of $0.88. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $608 million for the same period. The Company also announced that the Company's Board of Directors declared a quarterly cash dividend of $0.05 per share on the Company's common stock for the 2009 fourth quarter. The dividend will be paid on December 9, 2009, to shareholders of record on November 18, 2009.
America Service Group Inc. Announces Commencement of Quarterly Dividend; Announces Extension of Current Stock Repurchase Program; Announces New Credit Facility
America Service Group Inc. announced that it has commenced a quarterly dividend program and declared a quarterly cash dividend on the Company's common stock for the third quarter of $0.05 per share. The dividend will be paid on September 9, 2009, to the shareholders of record on August 19, 2009. The Company also announced that it has authorized the extension of the stock repurchase program by two years through the end of 2011. This program is intended to be implemented through purchases made from time to time in either the open market or through private transactions. Under the stock repurchase program, no shares will be purchased directly from Officers or Directors of the Company. The Company also announced that it has entered into a new revolving credit and security agreement with CapitalSource Bank replacing its previous agreement with CapitalSource Finance LLC.
America Service Group Inc. Raises FY 2009 Profit Outlook; Reiterates FY 2009 Revenue and EPS Outlook
America Service Group Inc. announced that for fiscal 2009, it has raised pre-tax income outlook from $13.5 million to $14.0 million and net income - GAAP from $7.8 million to $8.0 million. The Company continues to expect total revenues to be in the range of $600.0 million to $610.0 million and net income per common share -- diluted -- GAAP to be $0.88 for fiscal 2009. According to Reuters Estimates, analysts on an average were expecting the Company to report net profit of $7.4 million for fiscal 2009.
America Service Group Inc. Reaffirms FY 2009 Guidance
America Service Group Inc. announced that it has reaffirmed fiscal 2009 guidance and expects revenue in the range of $600.0 -- $610.0 million, GAAP net income of $7.8 million and GAAP EPS of $0.88.
America Service Group Inc. Issues FY 2009 Outlook Above Analysts' Estimates
America Service Group Inc. announced that for fiscal 2009, it expects total revenues of $600.0 million to $610.0 million, pre-tax income of $13.5 million, GAAP net income of $7.8 million and GAAP net income per common share of $0.91. The Company's new contract with the Michigan Department of Corrections, which is expected to commence April 1, 2009, is included in the guidance for fiscal 2009 results. Contracts currently in operation are included in the guidance for fiscal 2009 results through the end of the year, unless the Company has previously been notified otherwise by the client. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $585.7 million, GAAP net profit of $6.2 million and GAAP earnings per share (EPS) of $0.67 for fiscal 2009.
