Bright Horizons Profit In Line, Revenue Misses

(RTTNews) - Bright Horizons Family Solutions Inc (BFAM), a provider of child care and early education services, Tuesday reported third-quarter net earnings of $15.4 million compared with $15 million last year. On a per share basis, earnings were unchanged at $0.23.

Excluding items, adjusted earnings per forma share for the quarter were $0.32 compared with $0.28 a year ago.

Revenues for the quarter were $335 million compared with $308.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.32 per share on revenues of $336.4 million for the quarter. Analysts' estimates typically exclude special items.

For the full year, the company now expects revenue growth of 11 percent, from prior guidance of 11 to 12 percent growth. It expects adjusted earnings per pro forma share growth of 20 to 22 percent.

Analysts expect revenue growth of 11.9 percent and for the year.