|Chris Coonfield, Manager, Investor Relations
James E.Hyman, CEO & President
John R. Nieser, SVP, CFO & Treasurer
Cathryn L. Porter, SVP, General Counsel & Corporate Secretary
Patrick N. Perrin, SVP & Chief Administrative Officer
Benjamin E. Erwin, SVP, Corporate Development & ACB
Michael Caltabiano, SVP, Adult Secure
Jonathan P. Swatsburg, SVP, Abraxas Youth & Family Services
|Revenue||$ 386.7 million (2008)|
|$ 62.2 million (2008)|
|$ 22.2 million (2008)|
|Total assets||$ 636.9 million (2008)|
|Total equity||$ 228.2 million (2008)|
Number of employees
|4,300 - September 2009|
Cornell Companies (NYSE:GRN) was an American corporation that operates correctional facilities, contracting them to state and local governments. The company's headquarters are located in Houston, Texas. On August 12, 2010, Cornell and the GEO Group merged.
Cornell Companies, through predecessor entities, began juvenile operations in 1973, adult-community-based programs in 1974, and adult secure operations in 1984. In 1996, Cornell Companies was officially incorporated in the State of Delaware as a consolidated entity. By 2010, Cornell had established long-standing relationships with a number of significant federal and state customers, including a nearly 20-year relationship with the Bureau of Prisons in its Adult Secure division and a 35-year relationship with the Bureau of Prisons in its Adult Community-Based division. Also, in Cornell's Abraxas juvenile division, over 70% of revenue was sourced from customers over 15+ years. Cornell had attained a significant presence with the Alaska, Mississippi and Arizona Department of Corrections.
Cornell Companies offered a diverse portfolio of services in structured and secure environments through three operating divisions:
- Adult Secure Services
- Adult Community-Based Services
- Abraxas Youth and Family Services
Within the Adult Secure Services segment, Cornell provided minimum- to maximum-security incarceration services for federal, state and local government agencies.
Cornell's Adult Community-Based Services involved the supervision of adult parolees and probationers. Cornell offered a national presence with locations in many large urban areas, throughout the United States. Cornell was a leading provider of community-based services to the U.S. Federal Bureau of Prisons and to a number of state corrections departments.
The Abraxas Youth & Family Services division included residential, detention, shelter care and community-based services, along with educational, rehabilitation and treatment programs for juveniles, typically between the ages of 10 and 18.
At December 31, 2008, Cornell had 4,109 full-time employees and 300 part-time employees. Cornell employs management, administrative and clerical, security, educational and counseling services, health services and general maintenance personnel.