NEWTON, Mass. (AP) — NEWTON, Mass. (AP) — Bright Horizons Family Solutions Inc. (BFAM) on Thursday reported fourth-quarter earnings of $21.7 million.
The Newton, Massachusetts-based company said it had profit of 38 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.15 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The child care and early education services provider posted revenue of $733.7 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $728.7 million.
For the year, the company reported profit of $193.1 million, or $3.36 per share. Revenue was reported as $2.93 billion.
Bright Horizons expects full-year earnings in the range of $4.90 to $5.10 per share, with revenue in the range of $3.08 billion to $3.13 billion.
Bright Horizons shares have declined 19% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $81.83, a drop of 31% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BFAM at https://www.zacks.com/ap/BFAM
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