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Private Prisons See Rise in Profits

By Jeralyn, Section Inmates and Prisons
Posted on Sun Feb 11, 2007 at 10:59:38 PM EST
Tags: Private Prisons (all tags)
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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%.

Here's more. [Via Think Outside the Cage.]

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