WATERTOWN, Mass. (AP) _ Bright Horizons Family Solutions Inc. (BFAM) on Wednesday reported first-quarter net income of $30.7 million.
The Watertown, Massachusetts-based company said it had profit of 52 cents per share. Earnings, adjusted for one-time gains and costs, came to 74 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The child care and early education services provider posted revenue of $506.3 million in the period.
Bright Horizons shares have dropped 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $120.70, a drop of 7.5% in the last 12 months.