Bright Horizons Family Solutions Turns To Profit In Q1

(RTTNews) - Bright Horizons Family Solutions, Inc. (BFAM) Thursday reported first-quarter net income attributable to the company of $16.0 million or $0.24 per share, compared to a loss of $50.7 million or $0.91 per share in the same period last year.

Adjusted earnings for the quarter were $22.7 million or $0.24 per share, up from $15.6 million or $0.25 per share in the previous year quarter. On average, eleven analysts polled by Thomson Reuters expected the company to earn $0.32 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 19% to $332.16 million from $280.12 million last year. Analysts expected revenues of $325.69 million.

For full-year 2014, the company now expects adjusted earnings in the range of $1.43 per share to $1.46 per share. Analysts currently expect full-year earnings of $1.45 per share.

Earlier, the company expected earnings in range of $1.42 per share to $1.46 per share.