Corrections Corp. of America Announces Todd Mullenger to Succeed Irving Lingo as Chief Financial Officer Conference Call - Final.

Original Source: FD (FAIR DISCLOSURE) WIRE

OPERATOR: Good afternoon ladies and gentlemen, and thank you for standing by. Welcome to the Corrections Corporation of America conference call.

Before we begin, let me remind today's listeners that this conference call may contain statements that are forward-looking as defined within the Private Securities Litigation Reform Act of 1995.

These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. Factors that could cause operating and financial results to differ are described in the Company's Form 10-K, as well as in other documents filed with the Securities and Exchange Commission, and these factors include, but are not limited to changes in the private corrections and detention industry, the Company's ability to obtain and maintain facility management contracts and general economic market conditions.

This call may include the discussion of non-GAAP measures for which reconciliation for the most comparable GAAP measurement is provided in the Company's fourth quarter earnings release posted on the Company's website.

The Company does not undertake any obligation to publicly release the results of any revision to the forward-looking statements that may be made to reflect events or circumstances at the date hereof, or to reflect the occurrences of unanticipated events.

Participating on today's call will be the Company's President and Chief Executive Officer, John Ferguson; Irv Lingo, Todd Mullenger, and Karin Demler.

I would now like to turn the conference over to Mr. Ferguson. Please go ahead, sir.

JOHN FERGUSON, PRESIDENT, CEO, CORRECTIONS CORPORATION OF AMERICA: Welcome everyone, and thank you for joining us this morning as we follow up to the announcement that was made this morning, announcement of Todd Mullenger, soon to be appointed Chief Financial Officer for CCA, and of course, the announcement of Irv Lingo's retirement. You know, it's a little bit of mixed emotions that I deal with each of these transitions, and I don't want to make light of the importance of the transition to the market and to the Company, but I do look upon it in both events as a little bit of a celebration. As each of you know, Irv Lingo was the first recruit back in the end of 2000 for the Ferguson Administration, and I feel that my free agent choice was an excellent one, and Irv and I have been side by side as we dealt with many issues together, as we worked on the balance sheet together, as we helped put together a structured organization and management team that makes this transition by Irv one that should be reasonably comfortable.

So I celebrate Irv's ability to do what he wants to do. Interestingly, I was chatting with David Garfinkle the other night about Irv's decision; he said, "You know, I've known Irv for 11 years and he's talked about this the entire time", so it's not something that's come …