WATERTOWN, Mass. (AP) _ Bright Horizons Family Solutions Inc. (BFAM) on Thursday reported fourth-quarter net income of $47.8 million.
On a per-share basis, the Watertown, Massachusetts-based company said it had profit of 81 cents. Earnings, adjusted for one-time gains and costs, were $1.01 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The child care and early education services provider posted revenue of $520.6 million in the period.
For the year, the company reported profit of $180.4 million, or $3.05 per share. Revenue was reported as $2.06 billion.
For the current quarter ending in April, Bright Horizons expects its per-share earnings to range from 94 cents to 96 cents.
The company expects full-year earnings in the range of $4.11 to $4.18 per share.
Bright Horizons shares have risen 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $173.80, an increase of 44% in the last 12 months.