Bright Horizons Family Solutions Inc. said its normalized net income for the fourth quarter came to 35 cents per share, compared with the S&P Capital IQ consensus estimate of 45 cents per share.

EPS climbed 29.2% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $21.4 million, an increase of 19.3% from $17.9 million in the year-earlier period.

The normalized profit margin climbed to 5.8% from 5.3% in the year-earlier period.

Total revenue climbed 10.0% on an annual basis to $371.6 million from $337.8 million, and total operating expenses climbed 8.8% from the prior-year period to $326.7 million from $300.2 million.

Reported net income grew 26.2% from the prior-year period to $23.8 million, or 39 cents per share, from $18.8 million, or 28 cents per share.

For the year, the company's normalized net income totaled $1.41 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.83.

EPS rose 34.4% from $1.05 in the prior year.

Normalized net income was $87.6 million, an increase of 24.6% from $70.3 million in the prior year.

Full-year total revenue grew 7.8% year over year to $1.46 billion from $1.35 billion, and total operating expenses rose 5.9% on an annual basis to $1.28 billion from $1.21 billion.

The company said reported net income grew 30.0% year over year to $93.3 million, or $1.50 per share, in the full year, from $71.8 million, or $1.07 per share.