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Forbes: Cornell Locks-Up A Strong Quarter

By Real Cost of Prisons Project (The Sentencing Project)

Forbes.com Market Scan Cornell Locks-Up A Strong Quarter Ruthie Ackerman, 03.13.08 When federal and state governments run out of prison beds who are they going to call? The answer: private operators that run prisons and provide treatment services to federal and state agencies. And one such operator, Cornell Companies, a provider of correction and detention services for adults and juveniles, is thriving. On Thursday Cornell Companies reported its fourth-quarter earnings jumped 14.9% to $5.4 million, or 37 cents per share, from $4.7 million, or 33 cents per share, during the same period the previous year. Analysts polled by Thomson Financial expected earnings per share of 31 cents. Cornell?s shares shot up 10.1%, or $1.63, to $17.78 at the close...continue to full post

Full post as published by The Real Cost of Prisons Weblog on March 15, 2008 (boomark / email).