NEWTON, Mass. (AP) — NEWTON, Mass. (AP) — Bright Horizons Family Solutions Inc. (BFAM) on Tuesday reported first-quarter net income of $8.1 million.
The Newton, Massachusetts-based company said it had net income of 14 cents per share. Earnings, adjusted for one-time gains and costs, came to 49 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The child care and early education services provider posted revenue of $553.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $526.2 million.
Bright Horizons expects full-year earnings in the range of $2.80 to $3 per share, with revenue in the range of $2.3 billion to $2.4 billion.
Bright Horizons shares have climbed 17% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $74.09, a fall of 34% in the last 12 months.
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