Private Prisons See Rise in Profits
Forbes reports that Corrections Corp. of America saw a 37% profit increase in the 4th quarter of 2006.
For the full fiscal year, Corrections Corp.'s profit more than doubled to $105.2 million, or $1.71 per share, from $50.1 million, or 83 cents per share in 2005.
The principal reason seems to be that demand is up at both the state and federal levels. Prison occupancy rates rose to 97%.
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