HOUSTON, June 26, 2008 (PRIME NEWSWIRE) -- Cornell Companies, Inc. (NYSE:CRN), today announced that it is raising earnings guidance for the second quarter 2008 to $0.29 to $0.34 per diluted share from the previously announced guidance of $0.27 to $0.31 per diluted share. The Company noted that the increase was driven by generally stronger operating results across its business units. As a result of the increase for the second quarter, the Company also increased full year earnings guidance to $1.26 to $1.33 per diluted share, compared to the previously announced guidance of $1.24 to $1.30 per diluted share.
Statements regarding the Company's earnings, operating results, as well as any other statements that are not historical facts, are forward-looking statements within the meaning of applicable securities laws that involve certain risks, uncertainties and assumptions. These include but are not limited to Cornell's ability to perform according to its current expectations, changes in supply and demand, actions by governmental agencies and other third parties, and other factors detailed in the company's most recent Form 10-K and other filings with the Securities and Exchange Commission, which are available free of charge on the SEC's website at http://www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.
About Cornell Companies
Cornell Companies, Inc. (www.cornellcompanies.com) is a leading private provider of corrections, treatment and educational services outsourced by federal, state and local governmental agencies. Cornell provides a diversified portfolio of services for adults and juveniles, including incarceration and detention, transition from incarceration, drug and alcohol treatment programs, behavioral rehabilitation and treatment, and grades 3-12 alternative education in an environment of dignity and respect, emphasizing community safety and rehabilitation in support of public policy. The Company has 75 facilities in 15 states and the District of Columbia with a total service capacity of 19,110.
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