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As of 1:56 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

bright horizons family solut (BHA) Snapshot

Open
€27.67
Previous Close
€27.51
Day High
€28.16
Day Low
€27.55
52 Week High
04/4/14 - €30.26
52 Week Low
05/2/13 - €23.79
Market Cap
1.9B
Average Volume 10 Days
0.0
EPS TTM
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Shares Outstanding
65.8M
EX-Date
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Current Stock Chart for BRIGHT HORIZONS FAMILY SOLUT (BHA)

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bright horizons family solut (BHA) Details

Bright Horizons Family Solutions Inc. provides child care and early education, and other services for employers and families. It operates through three segments: Full-Service Center-Based Child Care, Back-Up Dependent Care, and Other Educational Advisory Services. The Full Service Center-Based Care segment offers traditional center-based child care, pre-school, and elementary education services. The Back-Up Dependent Care segment provides center-based back-up child care, in-home care, mildly ill care, and adult/elder care services. The Other Education Advisory Services segment offers college preparation and admissions counseling, tuition reimbursement, and counseling and management services. As of December 31, 2013, it operated 880 child care and early education centers in the 42 U.S. states and the District of Columbia, Puerto Rico, the United Kingdom, Canada, Ireland, the Netherlands, and India. The company was formerly known as Bright Horizons Solutions Corp. and changed its name to Bright Horizons Family Solutions Inc. in July 2012. Bright Horizons Family Solutions Inc. was founded in 1986 and is headquartered in Watertown, Massachusetts.

25,000 Employees
Last Reported Date: 03/25/14
Founded in 1986

bright horizons family solut (BHA) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $563.8K
President, Chief Operating Officer and Direct...
Total Annual Compensation: $563.8K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $339.9K
Chief Administrative Officer and Secretary
Total Annual Compensation: $275.6K
Chief Human Resources Officer
Total Annual Compensation: $296.3K
Compensation as of Fiscal Year 2013.

bright horizons family solut (BHA) Key Developments

Bright Horizons Family Solutions, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter and Full Year of Fiscal 2014

Bright Horizons Family Solutions, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company announced revenue of $319,177,000 compared to $273,426,000 for the same period a year ago. Income from operations was $30,411,000 compared to $27,944,000 for the same period a year ago. Income before tax was $21,257,000 compared to $5,934,000 for the same period a year ago. Net income was $23,676,000 compared to $4,227,000 for the same period a year ago. Net income attributable to the company was $23,743,000 compared to $4,174,000 for the same period a year ago. Net income available to common shareholders was $23,743,000 or $0.35 per diluted share compared to net loss available to common shareholders of $17,412,000 or $2.87 per diluted for the same period a year ago. EBITDA was $49,906,000 compared to $44,082,000 for the same period a year ago. Adjusted EBITDA was $53,378,000 compared to $47,051,000 for the same period a year ago. Adjusted income from operations was $31,601,000 compared to $28,445,000 for the same period a year ago. Adjusted net income was $21,154,000 compared to $9,363,000 for the same period a year ago. Diluted adjusted earnings per pro forma common share were $0.32 compared to $0.17 for the same period a year ago. In the fourth quarter of 2013, adjusted EBITDA increased and adjusted income from operations increased from the fourth quarter of 2012 primarily as a result of the $8.1 million increase in gross profit, partially offset by increases in selling, general and administrative expenses, including investments in technology and marketing to support the growth of the business, and incremental overhead costs from the acquisitions of Kidsunlimited and Children’s Choice earlier in 2013. For the year, the company announced revenue of $1,218,776,000 compared to $1,070,938,000 for the same period a year ago. Income from operations was $109,034,000 compared to $95,464,000 for the same period a year ago. Income before tax was $4,811,000 compared to $11,752,000 for the same period a year ago. Net income was $12,344,000 compared to $8,509,000 for the same period a year ago. Net income attributable to the company was $12,623,000 compared to $8,162,000 for the same period a year ago. Net income available to common shareholders was $12,623,000 or $0.20 per diluted share compared to net loss available to common shareholders of $76,485,000 or $12.62 per diluted share for the same period a year ago. Net cash provided by operating activities was $159,679,000 compared to $106,982,000 for the same period a year ago. Purchases of fixed assets, net were $69,320,000 compared to $69,065,000 for the same period a year ago. EBITDA was $118,160,000 compared to $156,812,000 for the same period a year ago. Adjusted EBITDA was $208,541,000 compared to $180,851,000 for the same period a year ago. Adjusted income from operations was $126,850,000 compared to $112,482,000 for the same period a year ago. Adjusted net income was $78,260,000 compared to $37,807,000 for the same period a year ago. Diluted adjusted earnings per pro forma common share were $1.19 compared to $0.71 for the same period a year ago. After deducting maintenance capital expenditure of $30 million, free cash flow in 2013 nearly doubled to $130 million from the $66 million that the company generated in 2012. The main drivers of this increase are the improved operating performance, lower cash interest expense, which is $17 million for the full year, as well as higher networking capital of about $8 million. The company provided earnings guidance for the first quarter and full year of fiscal 2014. The company expects: overall revenue growth in 2014 in the range of 10%-12%; adjusted EBITDA growth in 2014 in the range of 15%-17%; adjusted net income in 2014 in the range of $96 million to $99 million and diluted adjusted earnings per share in 2014 in the range of $1.42 to $1.46. The company expects that income from operations in 2014 will approximate 11% of revenue. The company expects the amortization expense to approximate $30 million for the full year, including $20 million related to its May of 2008 LVO, and for depreciation expense to approximate $51 million to $53 million. The company estimates that the effective tax rate, both GAAP and the structural tax rate, now that it des not have the anomalies of this year and the results, will approximate 37% to 37.5% which is slightly higher than the structural rate for 2013 due to the projected higher mix of pretax income generated in the U.S., which has the overall highest marginal tax rate. The company projects that it will generate approximately $170 million of cash flow from operations or $140 million of free cash flow net of projected maintenance capital spending of approximately $30 million. For the first quarter of 2014, the company is estimating revenue growth in the range of 15% to 17%, adjusted EBITDA of $55 million to $56 million, adjusted net income in the range of $21 million to $22 million, and EPS of approximately $0.32 to $0.33 a share.

Bright Horizons Mulls Acquisitions

Bright Horizons Family Solutions, Inc. (NYSE:BFAM) is seeking acquisitions. David Lissy, Chief Executive Officer of Bright Horizons Family, said, "Speaking of this year, let me turn to 2014. Our plan for this year contemplates the addition of 50 to 55 new centers, approximately 30 net of expected closures, including new organic centers and some small tuck-in acquisitions. In terms of our acquisition pipeline, we continue to review and evaluate a fairly steady stream of opportunities and expect that our track record of adding value in this area will continue in 2014. Our current outlook does not contemplate any larger scale acquisitions like those we completed this past year, but rather considers that, for 2014 and beyond, roughly one-third of our new center growth will continue to come through the acquisition of smaller groups of high-quality centers and providers, both here in the US and in Europe."

Bright Horizons Family Solutions, Inc. Presents at 16th Annual Credit Suisse Global Services Conference, Mar-10-2014 10:00 AM

Bright Horizons Family Solutions, Inc. Presents at 16th Annual Credit Suisse Global Services Conference, Mar-10-2014 10:00 AM. Venue: The Phoenician, Scottsdale, Arizona, United States.

 

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