The privatized correctional management and facilities development company is awaiting results of pending bids that could result in contracts to develop another 6,400 beds. Over the next 12 to 18 months, the company anticipates it will be competing on bids that cover around 17,000 beds.
"The third quarter's diluted earnings of 27 cents per share reflect the successful opening of three new facilities," George C. Zoley, Wackenhut Corrections' vice chairman and chief executive officer, says in a prepared statement. "The third quarter earnings are consistent with management's prior guidance."
The company reported net income of $5.8 million, or 27 cents per diluted share, on total revenue of $142 million for the three months ended Sept. 30, compared with a net gain of $2.4 million, or 11 cents per share, on revenue of $136 million for the same period in 2000.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
