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Bright Horizons Family Solutions LLC profit misses consensus by 15.1% in Q2

Bright Horizons Family Solutions Inc. said its normalized net income for the second quarter came to 42 cents per share, compared with the S&P Capital IQ consensus estimate of 49 cents per share.

EPS increased 32.2% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.1 million, an increase of 23.2% from $21.2 million in the year-earlier period.

The normalized profit margin climbed to 7.0% from 6.1% in the year-earlier period.

Total revenue rose 6.4% year over year to $370.5 million from $348.1 million, and total operating expenses rose on an annual basis to $318.3 million from $305.6 million.

Reported net income grew 23.6% from the prior-year period to $26.7 million, or 43 cents per share, from $21.6 million, or 32 cents per share.