Geo Group (GEO) has reported 14.12 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $43.72 million, or $0.59 a share in the quarter, compared with $38.31 million, or $0.52 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $43.72 million, or $0.59 a share compared with $40.23 million or $0.54 a share, a year ago.

Revenue during the quarter grew 17.99 percent to $554.38 million from $469.87 million in the previous year period.

Total expenses were $481.92 million for the quarter, up 18.46 percent or $75.09 million from year-ago period. Operating margin for the quarter contracted 35 basis points over the previous year period to 13.07 percent.

Operating income for the quarter was $72.45 million, compared with $63.03 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $106.81 million compared with $96.98 million in the prior year period. At the same time, adjusted EBITDA margin contracted 137 basis points in the quarter to 19.27 percent from 20.64 percent in the last year period.  

For the fourth-quarter, Geo Group expects revenue to be $2,180 million.  It expects net income to be in the range of $139.50 million to $141.50 million,  the company projects operating income to be in the range of $567.50 million to $569.50 million.  The company forecasts diluted earnings per share to be in the range of $1.88 to $1.90.  On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $2.11 to $2.13.

For financial year 2016, Geo Group expects revenue to be $2,180 million. It expects net income to be in the range of $139.50 million to $141.50 million, the company projects operating income to be in the range of $567.50 million to $569.50 million. The company forecasts diluted earnings per share to be in the range of $1.88 to $1.90, the company forecasts diluted earnings per share to be in the range of $2.11 to $2.13 on adjusted basis.

George C. Zoley, chairman and chief executive officer of GEO, said, "We are pleased with our strong third quarter results and our outlook for the fourth quarter and full year. We believe that our financial performance and continued organic growth is reflective of our diversified platform of real estate, management and programmatic solutions which allows us to provide cost-effective, high quality services for our government partners around the world and to deliver industry-leading, evidence-based rehabilitation programs both in-custody and in community-based settings to the men and women who have been entrusted to our care. We remain focused on maintaining our leadership in the delivery of these important programs and effectively allocating capital to continue to enhance value for our shareholders."

Net receivables were at $730.18 million as on Sep. 30, 2016, up 76.49 percent or $316.46 million from year-ago. Accounts payable increased 12.87 percent or $9.34 million to $81.91 million on Sep. 30, 2016.

Total assets grew 8.96 percent or $307.78 million to $3,742.40 million on Sep. 30, 2016. On the other hand, total liabilities were at $2,776 million as on Sep. 30, 2016, up 14.28 percent or $346.84 million from year-ago.

Return on assets moved up 14 basis points to 2.01 percent in the quarter. At the same time, return on equity moved up 71 basis points to 4.52 percent in the quarter.