Bright Horizons Family Solutions Inc. said its normalized net income for the first quarter amounted to 42 cents per share, compared with the S&P Capital IQ consensus estimate of 56 cents per share.
EPS increased 7.9% year over year from 39 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $25.4 million, a gain of 7.2% from $23.7 million in the prior-year period.
The normalized profit margin dropped to 6.0% from 6.1% in the year-earlier period.
Total revenue rose 9.6% on an annual basis to $422.2 million from $385.3 million, and total operating expenses climbed 10.1% on an annual basis to $370.8 million from $336.7 million.
Reported net income increased 67.8% on an annual basis to $41.2 million, or 68 cents per share, from $24.5 million, or 40 cents per share.