WACKENHUT CORP. REPORTS SECOND QUARTER REVENUE UP 11 PERCENT
PALM BEACH GARDENS, Fla.
The Wackenhut Corp. reports a revenue increase of 11 percent in the second quarter of 2001, up to $686 million, compared to $617 million last year. Revenue for the six months increased 11 percent as well, to $1 billion from $1 billion in the first half of 2000. Net income for the second quarter was $1 million or 6 cents per share on a fully diluted basis, compared to $5 million or 34 cents per share in the second quarter of 2000. For the first six months of 2001, there was a net loss of half a million or 4 cents per share on a fully diluted basis, compared to a net income of $9 million, or 58 cents per share, in the first six months of 2000. Richard R. Wackenhut, vice chairman, president and CEO of the Wackenhut Corp., says “Our revenue increase on a year-to-year basis indicates the success we have had in the further development of our customer base and the confidence that Fortune 1000 corporations and government agencies have in contracting for our services.” He adds, “Currently, a principal undertaking of our corporate management is the repositioning of our international operations and strategy. It has involved operations repositioning and changes in several key management positions in the past several months.”
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