Bright Horizons Family Solutions Inc. said its first-quarter normalized net income was 32 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.
EPS climbed 38.0% year over year from 24 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $20.5 million, an increase of 29.8% from $15.8 million in the year-earlier period.
The normalized profit margin increased to 5.9% from 4.8% in the year-earlier period.
Total revenue increased 5.5% year over year to $350.4 million from $332.2 million, and total operating expenses climbed from the prior-year period to $307.6 million from $298.1 million.
Reported net income rose 40.0% on an annual basis to $22.4 million, or 35 cents per share, from $16.0 million, or 24 cents per share.
