Cornell expects 2Q profit to rise up to 29 percent

The company expects a second-quarter profit of 27 cents to 31 cents per share -up between 12.5 percent and 29 percent over the year-ago quarter's earnings of 24 cents per share.

Cornell also increased its full-year profit outlook to $1.24 to $1.30 per share from an earlier forecast for $1.21 to $1.27 per share. The company earned 82 cents per share, in 2007.

The company said its outlook assumes it operates at its current population level through the end of the second quarter and starts a steady climb to an average daily population of about 600 in the fourth quarter.

Cornell shares declined 66 cents to $21.79 in afternoon trading.