**Exhibit11.1**

 

**Cornell Corrections, Inc.**

**Statement Re: Computation of Per Share Earnings**

**(in thousands except per share amounts)**

 
| ** **                                                                                      | ** ** | **Three Months Ended March 31,** | ** ** |
|-------------------------------------------------------------------------------------------------|------------|---------------------------------------|------------|
| ** **                                                                                      | ** ** | **2005**                              | ** ** | **2004** | ** ** |
| ** **                                                                                      | ** ** | **Basic**                             | ** ** | **Diluted** | ** ** | **Basic** | ** ** | **Diluted** | ** ** |
| ** **                                                                                      | ** ** | ** **                            | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Net Earnings  (loss)                                                                            |       | $                                     | (2,271     | ) | $ | (2,271 | ) | $ | 706 |   | $ | 706 |   |
|                                                                                            |       |                                  |       |   |   |   |   |   |   |
| Shares used  in computing net earnings per share:                                               |       |                                  |       |   |   |   |   |   |   |
| Weighted  average common shares and common share equivalents                                    |       | 14,947                                |       | 14,947 |   | 14,626 |   | 14,626 |   |
|                                                                                            |       |                                  |       |   |   |   |   |   |   |
| Less  treasury shares                                                                           |       | (1,519                                | )          | (1,519 | ) | (1,545 | ) | (1,545 | ) |
|                                                                                            |       |                                  |       |   |   |   |   |   |   |
| Effect of  shares issuable under stock options and warrants based on the treasury stock  method |       | —                                |       | 0 |   | — |   | 231 |   |
|                                                                                            |       |                                  |       |   |   |   |   |   |   |
|                                                                                            |       | 13,428                                |       | 13,428 |   | 13,081 |   | 13,312 |   |
|                                                                                            |       |                                  |       |   |   |   |   |   |   |
| Net earnings  per share                                                                         |       | $                                     | (0.17      | ) | $ | (0.17 | ) | $ | 0.05 |   | $ | 0.05 |   |

 

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