Correctional Services Corp. Finalizes Contract to Operate a Second 96 Bed Secure Juvenile Facility in Dallas.SARASOTA, Fla.--(BUSINESS WIRE)--Sept. 11, 1998--Correctional Services Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NMS See NetWare Management System. :CSCQ CSCQ Centre Suisse de Contrôle de Qualité (French: Organisation for Quality Control of Medical Analysis; Switzerland) CSCQ China Soaring Crane Qigong CSCQ Conseil de la Santé Communautaire du Québec ) Friday announced it has finalized a contract to operate a 96 bed secure juvenile facility in Dallas. The contract with the Dallas County Juvenile Board calls for the company to provide two distinct programs: a 44 bed secure, short term post-adjudication residential program with an aftercare af·ter·care n. Follow-up care provided after a medical procedure or treatment program. aftercare the care and treatment of a convalescent patient, especially one that has undergone surgery. component and a detention center with up to 52 beds. The Facility is scheduled to open in the fourth quarter of this year. The contract period is for 1 year with 2 annual renewal options. Upon full occupancy, the contract is expected to generate approximately $3 million in annual revenue. "This is the company's second contract with the Dallas County Juvenile Board this year. Our commitment to providing innovative and effective services to adjudicated youth is clearly being recognized in the state of Texas," stated James F. Slattery, 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. and president. Correctional Services Corp. is a leading developer and manager ofprivatized correctional and detention facilities in the United States. Through its three divisions: Adult, Juvenile and Community Corrections the company provides a diverse range of programs and services to local, state and federal governmental agencies. The company has 35 contracts to manage facilities in Florida, New York Florida is the name of some places in the U.S. state of New York:
SAFE HARBOR STATEMENT UNDER 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 This press release contains forward-looking statements involving various risks and uncertainties. Actual results could differ materially from those projected due to factors which may include population fluctuations, acquisition risks, market conditions, government funding and availability of financing. These and other risk factors are outlined in the reports filed by the company with the Securities and Exchange Commission.
CONTACT: Correctional Services Corp., Sarasota
Ira Cotler, Executive Vice President-Finance
941/953-9199
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion