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The GEO Group, Inc. Message Board

  • mcprison mcprison Feb 9, 2001 12:03 PM Flag

    WHC earnings

    Wackenhut Corporation Reports 2000
    Fourth Quarter And Year-End Results

    PALM BEACH GARDENS, Fla., Feb. 9 /PRNewswire/ --
    The Wackenhut Corporation (NYSE: WAK WAKB) today
    reported annual revenues for fiscal year 2000 of
    $2.5 billion, a 16 percent increase over its 1999
    revenues of $2.2 billion. The Company also
    reported 2000 net income of $16.8 million or $1.10
    per share on a diluted basis after the fourth
    quarter 2000 adoption of SAB Number 101 - Revenue
    Recognition. The retroactive effect of the change
    in accounting principle decreased 2000 earnings by
    $0.8 million after tax, or 5 cents diluted
    earnings per share. Earnings were also adversely
    impacted by a charge due to the deactivation of
    the Louisiana correctional facility which
    decreased 2000 earnings by $1.3 million after tax
    and minority interest or 9 cents diluted earnings
    per share. Net income in 1999 was $19.6 million or
    $1.28 per diluted share....

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