EXHIBIT 11.1
CORNELL CORRECTIONS, INC.
Statement Re: Computation of Per Share Earnings
(in thousands except per share amounts)
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<CAPTION>
THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30,
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2000 1999 2000 1999
-------------------- -------------------- -------------------- --------------------
BASIC DILUTED BASIC DILUTED BASIC DILUTED BASIC DILUTED
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Net Earnings ....................... $ 1,932 $ 1,932 $ 2,287 $ 2,287 $ 6,096 $ 6,096 $ 2,554 $ 2,554
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Shares used in computing
net earnings per share:
Weighted average common
shares and common share
equivalents ................. 10,161 10,161 10,138 10,138 10,157 10,157 10,126 10,126
Less treasury shares .......... (770) (770) (697) (697) (722) (722) (697) (697)
Effect of shares issuable
under stock options and
warrants based on the
treasury stock method ....... -- 134 -- 210 -- 135 -- 244
-------- -------- -------- -------- -------- -------- -------- --------
9,391 9,525 9,440 9,650 9,435 9,570 9,429 9,673
-------- -------- -------- -------- -------- -------- -------- --------
Net earnings per share ............ $ 0.21 $ 0.20 $ 0.24 $ 0.24 $ 0.65 $ 0.64 $ 0.27 $ 0.26
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