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Geo Group Inc (GEO) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Geo Group Inc

CIK: 923796 Ticker: GEO

Exhibit 99.1

 

LOGO   NEWS RELEASE
One Park Place, Suite 700 ● 621 Northwest 53rd Street ● Boca Raton, Florida 33487 ● www.geogroup.com

THE GEO GROUP REPORTS FOURTH QUARTER AND YEAR-END 2015 RESULTS

 

  4Q15 Normalized FFO of $0.80 per Diluted Share

 

  4Q15 AFFO of $0.97 per Diluted Share

 

  4Q15 EPS of $0.59 per Diluted Share

 

  Issues 2016 AFFO Guidance of $3.52 to $3.62 per Diluted Share

 

  2016 EPS Guidance of $1.94 to $2.04 per Diluted Share; Reflects Approx. $5.0 Million

in Incremental Non-Cash Interest Expense Related to Ravenhall Prison Project in Australia

Boca Raton, Fla. – February 17, 2016 — The GEO Group, Inc. (NYSE: GEO)

(“GEO”), a fully integrated equity real estate investment trust (“REIT”) specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe, reported today its financial results for the fourth quarter and full-year 2015.

Fourth Quarter 2015 Highlights

 

    Net Income Attributable to GEO of $0.59 per Diluted Share

 

    Net Operating Income of $142.5 million

 

    Normalized FFO of $0.80 per Diluted Share

 

    AFFO of $0.97 per Diluted Share

For the fourth quarter 2015, GEO reported Normalized Funds From Operations (“Normalized FFO”) of $58.9 million, or $0.80 per diluted share, compared to $51.9 million, or $0.70 per diluted share, for the fourth quarter 2014. GEO reported fourth quarter 2015 Adjusted Funds From Operations (“AFFO”) of $71.6 million, or $0.97 per diluted share, compared to $59.5 million, or $0.81 per diluted share, for the fourth quarter 2014. For the fourth quarter 2015, GEO reported Net Operating Income (“NOI”) of $142.5 million compared to $122.8 million for the fourth quarter 2014.

George C. Zoley, Chairman and Chief Executive Officer of GEO, said, “We are very pleased with our strong fourth quarter results as well as our outlook for 2016, which reflect continued growth in multiple market segments across our diversified business units of GEO Corrections & Detention and GEO Care. During 2015, we completed several important operational milestones with the integration of 6,500 owned beds acquired from LCS Corrections as well as the activation of more than 8,700 new and expansion beds. The significant level of new growth projects is indicative of the continued need for correctional and detention bed space across the United States and of GEO’s ability to provide tailored real estate, management, and programmatic solutions across the entire spectrum of correctional services. We continue to be focused on pursuing new growth opportunities and remain optimistic about the growth prospects for our company.”

—More—

 

Contact:   Pablo E. Paez   

(866) 301 4436

  Vice President, Corporate Relations   


The following information was filed by Geo Group Inc (GEO) on Tuesday, February 23, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (details)
Schedule Iii - Real Estate And Accumulated Depreciation
Schedule Iii - Real Estate And Accumulated Depreciation (details 2)
Schedule Iii - Real Estate And Accumulated Depreciation (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (loss) (parentheticals)
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Consolidated Statements Of Shareholders' Equity
Accrued Expenses And Other Current Liabilities
Accrued Expenses And Other Current Liabilities (details)
Accrued Expenses And Other Current Liabilities (tables)
Benefit Plans
Benefit Plans (accrued Pension Costs) (details)
Benefit Plans (benefit Payments) (details)
Benefit Plans (components Of Net Periodic Benefit Cost) (details)
Benefit Plans (details Textual)
Benefit Plans (tables)
Business Combinations
Business Combinations (details)
Business Combinations (pro-forma Information) (details)
Business Combinations (protocol Criminal Justice, Inc.) (details)
Business Combinations (tables)
Business Combinations - Assets Acquired And Liabilities Assumed (details)
Business Combinations - Soberlink (details)
Business Segments And Geographic Information
Business Segments And Geographic Information (asset Reconciliation) (details)
Business Segments And Geographic Information (customer Concentration Risk) (details)
Business Segments And Geographic Information (details Textual)
Business Segments And Geographic Information (details)
Business Segments And Geographic Information (geographic Information) (details)
Business Segments And Geographic Information (pre-tax Income Reconciliation Of Segments) (details)
Business Segments And Geographic Information (sources Of Revenue) (details)
Business Segments And Geographic Information (tables)
Commitments And Contingencies
Commitments And Contingencies (details Textual)
Commitments And Contingencies (lease Payments) (details)
Commitments And Contingencies (tables)
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information (balance Sheet) (details)
Condensed Consolidating Financial Information (details Textual)
Condensed Consolidating Financial Information (statements Of Cash Flows) (details)
Condensed Consolidating Financial Information (statements Of Income And Comprehensive Income) (details)
Condensed Consolidating Financial Information (tables)
Contracts Receivable
Contracts Receivable (details)
Debt
Debt (5.125% Senior Notes) (details)
Debt (5.875% Senior Notes Due 2024) (details)
Debt (5.875% Senior Notes) (details)
Debt (6.625% Senior Notes) (details)
Debt (australia - Ravenhall) (details)
Debt (credit Agreement) (details)
Debt (debt Repayment) (details)
Debt (details)
Debt (guarantees) (details)
Debt (nonrecourse Debt) (details)
Debt (tables)
Derivative Financial Instruments
Derivative Financial Instruments (australia Ravenhall) (details)
Derivative Financial Instruments (details)
Discontinued Operations
Discontinued Operations (details Textual)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Equity Incentive Plans
Equity Incentive Plans (compensation Expense) (details)
Equity Incentive Plans (details Textual)
Equity Incentive Plans (nonvested Stock Option Activity) (details)
Equity Incentive Plans (options Activity) (details)
Equity Incentive Plans (options By Exercise Price) (details)
Equity Incentive Plans (restricted Stock Activity) (details)
Equity Incentive Plans (tables)
Fair Value Of Assets And Liabilities
Fair Value Of Assets And Liabilities (details)
Fair Value Of Assets And Liabilities (tables)
Financial Instruments
Financial Instruments (details)
Financial Instruments (tables)
Goodwill And Other Intangible Assets, Net
Goodwill And Other Intangible Assets, Net (amortization Expense) (details)
Goodwill And Other Intangible Assets, Net (goodwill) (details)
Goodwill And Other Intangible Assets, Net (intangible Assets) (details 1)
Goodwill And Other Intangible Assets, Net (protocol Acquisition) (details)
Goodwill And Other Intangible Assets, Net (tables)
Income Taxes
Income Taxes (deferred Tax Assets And Liabilities) (details)
Income Taxes (details Textual)
Income Taxes (income (loss) Before Income Taxes) (details)
Income Taxes (provision (benefit) For Income Taxes) (details)
Income Taxes (reconciliation Of Statutory Rate To Effective Tax Rate) (details)
Income Taxes (tables)
Income Taxes (unrecognized Tax Benefits) (details)
Investment In Direct Finance Leases
Investment In Direct Finance Leases (details)
Investment In Direct Finance Leases (tables)
Property And Equipment
Property And Equipment (details Textual)
Property And Equipment (details)
Property And Equipment (tables)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (details)
Selected Quarterly Financial Data (unaudited) (tables)
Shareholders' Equity
Shareholders' Equity (common Stock, Distributions, Prospectus Supplement, Preferred Stock, And Rights Agreement) (details)
Shareholders' Equity (dividends Declared) (details)
Shareholders' Equity (noncontrolling Interests) (details)
Shareholders' Equity (tables)
Subsequent Events
Subsequent Events (details)
Summary Of Business Organization, Operations And Significant Accounting Policies
Summary Of Business Organization, Operations And Significant Accounting Policies (comprehensive Income (loss)) (details)
Summary Of Business Organization, Operations And Significant Accounting Policies (details Textual)
Summary Of Business Organization, Operations And Significant Accounting Policies (lease Revenue) (details)
Summary Of Business Organization, Operations And Significant Accounting Policies (policies)
Summary Of Business Organization, Operations And Significant Accounting Policies (reserve For Insurance Loss) (details)
Summary Of Business Organization, Operations And Significant Accounting Policies (stock Based Compensation) (details)
Summary Of Business Organization, Operations And Significant Accounting Policies (tables)
Summary Of Business Organization, Operations And Significant Accounting Policies (variable Interest Entities) (details)
Ticker: GEO
CIK: 923796
Form Type: 10-K Annual Report
Accession Number: 0001193125-16-478864
Submitted to the SEC: Thu Feb 25 2016 7:32:38 PM EST
Accepted by the SEC: Fri Feb 26 2016
Period: Thursday, December 31, 2015
Industry: Real Estate Investment Trusts

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