Bright Horizons Family Solutions Q2 Profit Matches Estimates - Quick Facts

(RTTNews) - Bright Horizons Family Solutions Inc. (BFAM) reported that its second-quarter net income to company decreased year-over-year to $21.71 million or $0.32 per share from $24.58 million or $0.37 per share. Adjusted earnings per pro forma share was $0.41 for the quarter. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.41 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $348.10 million from $310.81 million, a year ago. Analysts expected revenue of $345.77 million for the quarter. The company said its revenue increased $37.3 million on contributions from new and ramping full service child care centers, average price increases of 3-4%, and expanded sales of back-up dependent care and educational advisory services. The company updated certain targets regarding its 2014 expectations. Bright Horizons now expects overall revenue growth in 2014 in the range of 11-12%. Adjusted earnings per pro forma share is expected to range from $1.43 to $1.46. Analysts expect the company to report 2014 earnings per share of $1.45.