Thursday, Cornell Companies Inc. (CRN) reported a 35.3% increase in income available to stockholders to $7.23 million or $0.48 per share from $5.34 million or $0.36 per share in last year's second quarter. On average, 5 analysts polled by Thomson Reuters expected earnings per share of $0.44 for the quarter. Analysts' estimate typically exclude special items.
Revenues for the second quarter of 2009 grew 11.3% to $105.3 million from $94.6 million in the 2008 period. Four analysts estimated revenues of $105.01 million for the quarter.
The company expects third-quarter earnings per share to range from $0.42 to $0.46, and for the fourth-quarter to also be between $0.42 to $0.46. Five analysts expect earnings per share of $0.42 for the third quarter.
For the full year, management raised its earlier earnings guidance by $0.06 per share to $1.68 to $1.76 per share, to account for the performance in the second quarter as well as forecasted continued operational strength across the portfolio. Five analysts foresee earnings per share of $1.66 for the full year 2009.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.