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Cornell 1Q profit jumps nearly sevenfold

By Real Cost of Prisons Project (The Sentencing Project)

Cornell 1Q profit jumps nearly sevenfold Associated Press 05.09.08, 1:50 PM ET http://www.forbes.com - Cornell 1Q profit jumps nearly sevenfold ? Forbes.com HOUSTON - Cornell Cos., a provider of corrections and treatment services to federal and state agencies, said Friday that its first-quarter profit soared nearly sevenfold, with revenue rising mainly due to correctional center and prison projects. For the quarter ended March 31, Cornell Companies earned $4.6 million, or 32 cents per share, compared with $664,000, or 5 cents per share, in the year-ago quarter. The company's revenue climbed 6 percent to $95.4 million from $89.6 million. Cornell Companies said much of the growth resulted from the expansion of the Big Spring Correctional Center and the D...continue to full post

Full post as published by The Real Cost of Prisons Weblog on May 11, 2008 (boomark / email).