Cornell Private Prison Posts Profits
HOUSTON, May 8, 2007 (PRIME NEWSWIRE) -- Cornell Companies, Inc. (NYSE:CRN) today reported results for the three months ended March 31, 2007.
James E. Hyman, Cornell's chairman and chief executive officer, said, "We have started 2007 by meeting our earnings expectations for the first quarter. At the same time, we have also embarked upon several projects that both improve the company's risk profile and position it for growth in future years. These projects include expansions at our D. Ray James Prison and Big Spring Correctional Center, the recently-announced acquisition of the Correctional Facility at Brush, Colorado, and a new contract with the Arizona Department of Corrections announced last week. We believe that 2007 will be another productive year, building upon the successes we achieved in 2006."
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