Avalon Completes Colorado Acquisition.OKLAHOMA CITY Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm , Okla.--(BUSINESS WIRE)--Oklahoma Newswire-- June 14, 1999--Avalon Correctional Services, Inc. (Nasdaq:CITY), a leading owner and operator of community correctional facilities and programs, announced today it has completed the acquisition of The Villa at Greeley, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ., a private provider of residential services and programs for community corrections offenders located in Greeley, Colorado The City of Greeley is a home rule municipality in Weld County, Colorado, United States. According to 2006 Census Bureau estimates, the population of the city is 87,596.[4] . The all cash transaction is effective June 1, 1999. The Villa provides residential and healthcare services to over 300 individuals in addition to day reporting and specialized programming for over 560 offenders. Donald E. Smith, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated, "The completion of the acquisition of The Villa at Greeley expands Avalon's existing operations in Colorado and provides an excellent platform for additional future growth. The Villa's talents and resources in specialized programming adds additional expertise for Avalon's community based operations. The acquisition positions Avalon to achieve annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues to a run rate in excess of $22 million and exceeds management's mid-year goals for revenues and earnings." Avalon Correctional Services, Inc. is a leading developer and manager of privatized community correctional facilities and correctional programming in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Avalon currently has a total offender capacity of 1,700 beds in Oklahoma, Colorado and Texas, in addition to specialized programming for 800 offenders. For more information about Avalon contact our web site at www.avaloncorrections.com or call 405/752-8802. Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The words "forecast," "estimate," "project," "intend," "expect," "should," "would," and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the Company's SEC filings. |
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