US based provider Bright Horizons Family Solutions reports solid second quarter results

US based provider Bright Horizons Family Solutions reports solid second quarter results

by Jason Roberts

November 02, 2018

Bright Horizons Family Solutions, a leading American provider of high-quality child care, early education and other services designed to help employers and families better address the challenges of work and family life, have today announced their financial results for the second quarter of 2018 

 

 

The company reported a 9 per cent year on year increase in quarterly revenues and a 23 per cent year on year increase in quarterly income from operations.

 

 

“We are pleased to report strong financial results for the third quarter of 2018,” said Stephen Kramer, Chief Executive Officer. “Bright Horizons continues to lead our field in creating innovative solutions for employers, and in delivering high quality care to hundreds of thousands of children, working parents and adult learners every day.”

 

 

Increases in enrolments across its childcare centre network, including from new centre additions, as well as good performances from the back up care and educational advisory divisions combined with an average fee increase of between 3 and 4 per cent across the network to contribute to the strong revenue performance.

 

 

The company continues to invest in the business with a focus on improving the customer user experience, service delivery and operating efficiency.

 

 

Mr Kramer also noted his pride at the company being awarded one of Fortune magazine’s “Best Workplaces for Women” in its best employers for women survey.

 

 

He commented “Supporting women is essential to our culture, our growth and the organizations we serve, and this recognition is a testament to our own commitment to be a great place to work.”

 

 

Bright Horizons reconfirmed revenue growth, net income, adjusted net income and diluted weighted average share count guidance for the full year 2018.

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