Bright Horizons Family Solutions Turns To Profit In Q2 - Quick Facts

(RTTNews) - Bright Horizons Family Solutions Inc. (BFAM) reported second quarter net income to common stock of $24.6 million or $0.37 per share, compared to a net loss of $25.5 million or $4.20 per share, last year. Adjusted net income was $23.1 million for the quarter. Adjusted earnings per pro forma common share was $0.35.

On average, seven analysts polled by Thomson Reuters expected the company to report profit of $0.32 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $310.81 million, from $271.46 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. Analysts expected revenue of $305.88 million for the quarter.

The company updated certain targets regarding its 2013 expectations to reflect its results through June 30, 2013. Overall revenue growth in 2013 is expected to be in the range of 12-14%. Adjusted net income in 2013 is expected to be in the range of $77 million to $79 million. The company expects adjusted earnings per pro forma common share in 2013 in the range of $1.17 to $1.21. Analysts expect the company to report 2013 profit per share of $1.14.