NEWTON, Mass. (AP) — NEWTON, Mass. (AP) — Bright Horizons Family Solutions Inc. (BFAM) on Tuesday reported first-quarter net income of $34.1 million.
The Newton, Massachusetts-based company said it had profit of 62 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 82 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The child care and early education services provider posted revenue of $712.2 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $711.5 million.
Bright Horizons expects full-year earnings in the range of $4.90 to $5.10 per share, with revenue in the range of $3.08 billion to $3.13 billion.
Bright Horizons shares have fallen 19% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $81.68, a drop of 36% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BFAM at https://www.zacks.com/ap/BFAM
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