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WACKENHUT REPORTS RECORD REVENUES AND INCOME

 WACKENHUT REPORTS RECORD REVENUES AND INCOME
 CORAL GABLES, Fla., Feb. 10 /PRNewswire/ -- The Wackenhut


Corporation (NYSE: WAK) established record high earnings of $2.00 per share in 1991, eclipsing the previous record of $1.80 set in 1990. Net income was $7,721,000 for the 52 weeks ending Dec. 29, 1991, compared to $6,963,000 for 1990, an increase of 10.9 percent.
 Revenues reflected a similar trend, growing 9.8 percent to $572,527,000 in 1991, compared to total revenues of $521,191,000 for 1990. This is the 37th consecutive year in which revenues have surpassed the previous year's total.
 For the last 13 weeks of 1991, net income was $2,174,000, a 4.6 percent increase over 1990 figures of $2,079,000. Earnings per share were $.56 on revenues of $145,095,000, compared to $.53 and $133,879,000 respectively for the same period in 1990.
 The chairman of the board, George R. Wackenhut, attributed the growth in revenues to a continued strong showing in the Government sector, well designed expansion internationally, increases in the number of beds under the contract in the correctional business, and a solid domestic base that did not erode despite the economic circumstances of the last half of the year. In addition, a number of marginal services were discontinued and the company's hardware subsidiary, Stellar Systems, Inc., was sold at the end of September.
 Wackenhut noted that these moves were consistent with corporate plans to focus on profitable, core businesses in which The Wackenhut Corporation has operating experience and appropriate managerial expertise.
 Wackenhut stated that the principal reasons for the increase in earnings were improved operating efficiencies in both overhead support and large contract management techniques, the trend in the core businesses towards higher margined services, increased profitability in the Wackenhut Corrections Corporation, and the volume and margin growth internationally.
 The annual meeting of the shareholders of The Wackenhut Corporation will be held at 9 a.m. on Friday, April 24, 1992, at The Colonnade Hotel, 180 Aragon Ave., Coral Gables, Fla.
 The Wackenhut Corporation, one of the world's largest security and investigative firms, is headquartered in Coral Gables and has operations throughout the United States and in over 40 other countries, on six continents.
 The corporation provides security related services, private management of detention facilities including rehabilitation programs, food service and health care, and other services such as background and financial investigations, training, fire-fighting and emergency medical, facility management, electronic monitoring of parolees, and operation of educational/job training centers.
 THE WACKENHUT CORPORATION
 YEAR END FINANCIAL SUMMARY
 Percent
 1991 1990 Change
 Revenues $572,527,000 $521,191,000 + 9.8
 Net Income $ 7,721,000 $ 6,963,000 +10.9
 Earnings Per Share $ 2.00 $ 1.80
 -0- 2/10/92
 /CONTACT: Patrick F. Cannan of The Wackenhut Corporation, 305-666-5656/
 (WAK) CO: The Wackenhut Corporation ST: Florida IN: SU: ERN


JJ-SS -- FL005 -- 3578 02/10/92 11:59 EST
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Publication:PR Newswire
Date:Feb 10, 1992
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