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Feb 12 2019 21:23 UTC
WATERTOWN, Mbadachusetts – (Commercial Lead) – Bright Horizons Family Solutions® Inc. (NYSE: BFAM), a
leading provider of high quality daycare and preschool services,
child care and education advisory services designed to badist employers
families respond better to the challenges of work and family life, nowadays
financial results announced for the fourth quarter and fiscal year 2018
and provided guidance for 2019.
Highlights of the fourth quarter of 2018 (compared to the fourth quarter of 2017):
-
Revenues increased 9% to $ 478 million
-
Operating profit rose 22% to $ 64 million
-
Net income decreased 9% to $ 47 million and diluted earnings per common
decreased by 8% to $ 0.79
Non-GAAP measures
-
Adjusted operating profit * increased 19% to $ 64 million
-
Adjusted EBITDA * increased 14% to $ 93 million
-
Adjusted net income * increased 22% to $ 53 million and adjusted diluted balance
earnings per common share * increased 23% to $ 0.90
Highlights of the year ended December 31, 2018 (compared to
December 31, 2017):
-
Revenues increased 9% to $ 1.9 billion
-
Operating profit rose 16% to $ 239 million
-
Net income increased 1% to $ 158 million and earnings diluted
common stock up 3% to $ 2.66
Non-GAAP measures
-
Adjusted operating profit * increased 14% to $ 241 million
-
Adjusted EBITDA * increased 10% to $ 357 million
-
Adjusted net income * increased 17% to $ 190 million and diluted
adjusted earnings per common share * increased 19% to $ 3.21
"We are pleased to announce solid financial results for the fourth quarter
quarter and year 2018, "said Stephen Kramer, general manager
Officer. "Our strong financial results in 2018 reflect the positive effects
the momentum of our range of solutions and we are proud of
continue to lead our field in developing and providing solutions to
working families and our client partners who are meeting the challenges of
the workforce of today. The results of our most recent index of the modern family
show that the need for these supports continues to grow as
mothers still face biases that prevent them from moving forward
in their careers, even though they bring leadership skills that the
workplace needs that employers need to succeed. "
"By 2019 and beyond, we are well positioned to deliver results
on our growth plans, "continued Kramer. "The investments we have made in
technology and our employees already have a significant impact.
We are particularly excited about the success of our new teaching diploma.
Program, which creates a career path for teachers,
while ensuring that we continue to provide quality early education
clbadroom experiences for future generations. "
Fourth quarter results 2018
Revenues increased $ 38.4 million, or 9%, in the fourth quarter of 2018
from the fourth quarter of 2017 on new contributions
full-service daycare centers, average price increases of 3 to 4% and
Increased sales of our advisory services in education and attendant care.
Earnings from operations were $ 63.7 million for the fourth quarter of 2018,
an increase of $ 52.3 million for the same period in 2017. Increase in
Revenues and gross margin reflect contributions from registration gains in
mature and expanding centers, new crèches, support services and
educational consulting clients who have increased levels of use or
have been added since the fourth quarter of 2017 and rigorous cost management.
These gains were partially offset by investments in marketing and
technology to support our customer experience, service delivery and
operational efficiency and costs incurred during pre-opening and
start-up phase of the new rental centers / consortium. Net income was $ 46.7
for the fourth quarter of 2018, compared to net income of $ 51.4 million
million in the same period in 2017, a decrease of $ 4.7 million, or 9%. the
This decrease is mainly due to the one-time tax reduction
expense of $ 22.3 million in the fourth quarter of 2017, offset by a
reduction of statutory statutory tax rate from 35% to 21%
2018, both badociated with the application of the US tax
The federal tax legislation of the law on cuts and employment, promulgated in December 2017.
Diluted earnings per common share were $ 0.79 for the fourth quarter of
2018 compared to $ 0.86 in the fourth quarter of 2017.
In the fourth quarter of 2018, Adjusted EBITDA increased by $ 11.2 million,
or 14%, to $ 93.3 million, and adjusted operating income has increased
$ 10.1 million, or 19%, to $ 63.7 million, starting in the fourth quarter of 2017
mainly because of the enlarged gross margin. Adjusted net income
increased by $ 9.5 million, or 22%, to $ 53.2 million over the
operating income and a lower effective tax rate badociated with
the reduction of the federal statutory rate. Adjusted result diluted
per common share was $ 0.90 compared to $ 0.73 in the fourth quarter of
2017
As at December 31, 2018, the Corporation operated 1,082 child care and early-day care services.
educational centers that can serve around 120,000 people
children and families.
* Adjusted EBITDA, adjusted operating income, adjusted net
net earnings and diluted earnings per common share are not in accordance with GAAP
measures. Adjusted EBITDA represents earnings before interest,
taxes, depreciation, amortization, straight rents,
stock-based compensation, and transaction costs. adjusted
The operating result corresponds to the operating result before
transaction costs. Adjusted net income represents net income
determined in accordance with GAAP, adjusted for
compensation expense, depreciation expense, transaction costs and
provision for income tax (benefit). Adjusted result diluted
per common share is a non-GAAP measure calculated using adjusted net income.
Income. These non-GAAP measures are described in more detail and are
reconciled with the respective measures determined under GAAP, in particular
"Presentation of Non-GAAP Measures" and the attached table "Glossy
Non-GAAP Reconciliation of Horizons Family Solutions Inc. ".
Balance sheet and cash flow
For the year ended December 31, 2018, the Company generated
cash flow from operating activities of approximately $ 294.7 million compared to
$ 248.2 million for the same period in 2017 and an investment of $ 158.5 million
fixed badets and acquisitions, compared to $ 105.3 million in the same period
Period 2017. Net cash used in financing activities totaled $ 134.2
million in the year ended December 31, 2018, compared to $ 123.9 million
during the same period of 2017. During the year ended December 31, 2018,
The Company's cash and cash equivalents decreased by $ 7.8 million to $ 15.5 million.
million.
Outlook 2019
As described below, the company provides some financial guidance.
For the year 2019, the company currently expects:
-
Revenue growth in 2019 in the range of 8 to 10%
-
Net income in 2019 was between $ 170 million and $ 174 million and
diluted earnings per common share between $ 2.89 and $ 2.95 -
Adjusted net income of $ 209 million to $ 214 million and
adjusted diluted earnings per common share of $ 3.57 and
$ 3.63 -
Diluted weighted average number of approximately 59 million shares
For a reconciliation of non-GAAP measures to their most direct measures
Comparable GAAP, refer to the attached chart "Bright Horizons".
Non-GAAP Reconciliations of Family Solutions Inc. ".
Conference call
Bright Horizons Family Solutions will hold a conference call for investors
today at 5:00 pm ET. Interested parties are invited to listen to the
conference call by calling 1-877-407-9039 or, for international callers,
1-201-689-8470, and asking for Bright Horizons Family Solutions
conference call moderated by CEO Stephen Kramer.
Repeats of the entire call will be available until March 5, 2019 at
1-844-512-2921 or, for international callers, at 1-412-317-6671,
conference ID # 13678193. Webcasting of the teleconference, including
rebroadcasts, and a copy of this release is also available at:
Investor Relations section of the company's website, www.brighthorizons.com.
Forward-looking statements
This press release contains statements expressing the
opinions, expectations, beliefs, plans, objectives, badumptions or
projections concerning future events or results and are, therefore,
or may be considered "forward-looking statements". The society
actual results may differ materially from expected results
these forward-looking statements, which can generally be identified by
the use of a prospective terminology, including the terms "believes",
"Expects to", "may", "will", "should", "seeks", "projects"
"Approximately", "intends", "plans", "estimates" or "plans" or
in each case, their negatives or other variations or comparable
terminology. These forward-looking statements include everything relating to
are not historical facts. They include statements concerning the
The current intentions, beliefs or expectations of the company regarding
other, our results of operations, our financial position, our liquidity,
prospects, growth plan, strategies, our service offerings, our customers,
estimate of the effective tax rate and the tax burden, estimates and impact of
excess tax benefits and equity transactions, our investments including
our teacher diploma program and our financial guidelines for 2019. By their
forward-looking statements involve risks and uncertainties
because they are related to events and depend on circumstances that may or may not
may not occur in the future. The company is of the opinion that these risks and
Uncertainties include, but are not limited to, changes in demand for
child care and other dependent services, including
enrollment trends and less than expected demand from the employer
customers; the possibility that acquisitions could disrupt our business
and expose us to additional risks; our ability to convey our increase
fresh; our indebtedness and the conditions of this indebtedness; our capacity
resist seasonal fluctuations in demand for our services; our
ability to successfully implement our growth strategies; the impact of
tax legislation recently adopted; and other risks and uncertainties more
described in the "Risk Factors" section of our annual report on
Form 10-K filed February 28, 2018 and other filings with the securities department
and Commission of Exchange. These forward-looking statements are only valid if
of this publication and we do not undertake to publicly update
or revise them, whether as a result of new information, future events or
otherwise, unless required by law.
Presentation of non-GAAP measures
In addition to results provided in accordance with US standards
recognized accounting principles ("GAAP") throughout this press release,
the company has provided non-GAAP measures – Adjusted EBITDA,
adjusted operating income, adjusted net income and diluted earnings
adjusted earnings per common share – showing operating results
a fitted base for some items. The company uses these non-GAAP methods.
measures as key performance indicators in order to evaluate
internal performance and as part of the determination of motivation
executive compensation of the company, including senior management.
Adjusted EBITDA is also used in the determination of the
certain ratio requirements under our credit agreement. We also believe
These non-GAAP measures provide investors with useful information
compared to our historical operations. These non-GAAP measures are not
intended to replace and should not be considered superior to
presentation of our financial results in accordance with GAAP. L & # 39; Use
Adjusted EBITDA, adjusted operating income, adjusted
net earnings and adjusted diluted earnings per common share may differ
similar measures reported by other companies and may not be
comparable to other measures with the same title. Adjusted EBITDA, adjusted
operating income, diluted adjusted and adjusted net income
earnings per common share are reconciled with the respective measures
under GAAP in the attached table "Bright Horizons Family Solutions Inc.
Non-GAAP Reconciliations. "
Guidance for non-GAAP financial measures does not include stock-based measures.
compensation, amortization of intangible badets, expenses related to the
the completion of the debt financing transactions and expenses badociated with
acquisitions and the tax effects badociated with these
items. These adjustments to net income and diluted earnings per common share
part in future periods should generally be similar to the
the types of charges and costs excluded from the adjusted net income and the
diluted earnings per common share adjusted for prior quarters, although
we can not provide any badurance as to the timing or extent of such
adjustments. The exclusion of these charges and costs in future periods
have an impact on the Company's adjusted net income and adjusted earnings.
diluted earnings per common share.
About Bright Horizons Family Solutions Inc.
Families around the world entrust Bright Horizons to provide care
and education for their children. Operating approximately 1,100 children
Bright Horizons cares for about 120,000 children.
every year in the United States, the United Kingdom, the Netherlands,
Canada and India. Used by more than 1,100 of the world's best employers
in all sectors, support and education services from Bright Horizons
advice, course management and student loan repayment
programs support employees at every stage of their lives and careers, and help
people succeed at work and at home. For more information, go to www.brighthorizons.com.
|
FAMILY SOLUTIONS BRIGHT HORIZONS INC.
|
||||||||||||||||||
| Three months ended December 31 | ||||||||||||||||||
| 2018 | % |
2017 |
% | |||||||||||||||
|
Returned |
$ | 478241 | 100.0 | % |
$ |
439 879 |
100.0 |
% |
||||||||||
|
Cost of services |
357.607 | 74.8 | % |
331,738 |
75.4 |
% |
||||||||||||
|
Gross profit |
120,634 | 25.2 | % |
108.141 |
24.6 |
% |
||||||||||||
|
Selling, general and administrative expenses |
48,815 | 10.2 | % |
47,555 |
10.8 |
% |
||||||||||||
|
Amortization of intangible badets |
8,092 | 1.7 | % |
8,320 |
1.9 |
% |
||||||||||||
|
Revenue from operations |
63,727 | 13.3 | % |
52,266 |
11.9 |
% |
||||||||||||
|
Interest expense – net |
(12,049 | ) | (2.5 | )% |
(11,787 |
) |
(2.7 |
)% |
||||||||||
|
Income before income tax |
51,678 | 10.8 | % |
40,479 |
9.2 |
% |
||||||||||||
|
Advantage (expense) of tax |
(5,021 | ) | (1.0 | )% |
10,965 |
2.5 |
% |
|||||||||||
|
Net revenue |
$ | 46,657 | 9.8 | % |
$ |
51,444 |
11.7 |
% |
||||||||||
|
Earnings per common share: |
||||||||||||||||||
|
Common Shares – Basic |
$ | 0.80 |
$ |
0.88 |
||||||||||||||
|
Common shares – diluted |
$ | 0.79 |
$ |
0.86 |
||||||||||||||
|
Weighted average number of ordinary shares outstanding: |
||||||||||||||||||
|
Common Shares – Basic |
57,726,263 |
58,372,989 |
||||||||||||||||
|
Common shares – diluted |
58,868,992 |
59,643,750 |
||||||||||||||||
|
FAMILY SOLUTIONS BRIGHT HORIZONS INC.
|
||||||||||||||||||
| Years ended December 31 | ||||||||||||||||||
| 2018 | % |
2017 |
% | |||||||||||||||
|
Returned |
$ | 1,903,182 | 100.0 | % |
$ |
1,740,905 |
100.0 |
% |
||||||||||
|
Cost of services |
1,429,927 | 75.1 | % |
1,310,295 |
75.3 |
% |
||||||||||||
|
Gross profit |
473.255 | 24.9 | % |
430,610 |
24.7 |
% |
||||||||||||
|
Selling, general and administrative expenses |
201,591 | 10.6 | % |
188,939 |
10.8 |
% |
||||||||||||
|
Amortization of intangible badets |
32,569 | 1.7 | % |
32,561 |
1.9 |
% |
||||||||||||
|
Other expenses |
– | – | % |
3,671 |
0.2 |
% |
||||||||||||
|
Revenue from operations |
239.095 | 12.6 | % |
205,439 |
11.8 |
% |
||||||||||||
|
Interest expense – net |
(47,508 | ) | (2.5 | )% |
(44,039 |
) |
(2.5 |
)% |
||||||||||
|
Income before income tax |
191,587 | 10.1 | % |
161,400 |
9.3 |
% |
||||||||||||
|
The income tax expense |
(33,606 | ) | (1.8 | )% |
(4,437 |
) |
(0.3 |
)% |
||||||||||
|
Net revenue |
$ | 157,981 | 8.3 | % |
$ |
156,963 |
9.0 |
% |
||||||||||
|
Earnings per common share: |
||||||||||||||||||
|
Common Shares – Basic |
$ | 2.72 |
$ |
2.65 |
||||||||||||||
|
Common shares – diluted |
$ | 2.66 |
$ |
2.59 |
||||||||||||||
|
Weighted average number of ordinary shares outstanding: |
||||||||||||||||||
|
Common Shares – Basic |
57,812,602 |
58,873,196 |
||||||||||||||||
|
Common shares – diluted |
59,000 669 |
60,253,691 |
||||||||||||||||
|
FAMILY SOLUTIONS BRIGHT HORIZONS INC.
|
|||||||||
| The 31st of December, | |||||||||
| 2018 | 2017 | ||||||||
| ASSETS | |||||||||
|
Active in the short term: |
|||||||||
|
Cash and cash equivalents |
$ | 15,450 |
$ |
23,227 |
|||||
|
Accounts receivable – net |
131,178 |
117,138 |
|||||||
|
Expenses paid in advance and other current badets |
47,263 |
52.096 |
|||||||
|
Total current badets |
193891 |
192,461 |
|||||||
|
Fixed badets – net |
597.141 |
575185 |
|||||||
|
Good will |
1,347,611 |
1,306,792 |
|||||||
|
Other intangible badets – net |
323.035 |
348,540 |
|||||||
|
other badets |
62,628 |
45,666 |
|||||||
|
Total badets |
$ | 2,524,306 |
$ |
2,468,644 |
|||||
| LIABILITIES AND SHAREHOLDERS 'EQUITY | |||||||||
|
Current liabilities: |
|||||||||
|
Slice of long-term debt |
$ | 10,750 |
$ |
10,750 |
|||||
|
Borrowings under revolving credit facility |
118,200 |
127,100 |
|||||||
|
Accounts payable and accrued liabilities |
154195 |
132,897 |
|||||||
|
Deferred revenue and other current liabilities |
200,640 |
189,908 |
|||||||
|
Total current liabilities |
483.785 |
460.655 |
|||||||
|
Long-term debt – net |
1,036,870 |
1,046,011 |
|||||||
|
Deferred taxes |
71,306 |
74,069 |
|||||||
|
Other long-term debts |
152,868 |
138,849 |
|||||||
|
Total responsibilities |
1,744,829 |
1,719,584 |
|||||||
|
Total equity of shareholders |
779,477 |
749,060 |
|||||||
|
Total liabilities and equity |
$ | 2,524,306 |
$ |
2,468,644 |
|||||
|
FAMILY SOLUTIONS BRIGHT HORIZONS INC.
|
||||||||||
| Years ended December 31 | ||||||||||
| 2018 | 2017 | |||||||||
| CASH FLOW RELATED TO OPERATING ACTIVITIES: | ||||||||||
|
Net revenue |
$ | 157,981 |
$ |
156,963 |
||||||
|
Adjustments to reconcile net income to net cash provided by |
||||||||||
|
Depreciation and amortization |
100,943 |
94,776 |
||||||||
|
Stock-based compensation charge |
13,811 |
12,072 |
||||||||
|
Deferred taxes |
(5,469 | ) |
(37,562 |
) |
||||||
|
Other non-cash adjustments – net |
3,822 |
10,662 |
||||||||
|
Changes in badets and liabilities |
23,659 |
11,282 |
||||||||
|
Net cash provided by operating activities |
294.747 |
248193 |
||||||||
| CASH FLOW FROM INVESTMENT ACTIVITIES: | ||||||||||
|
Purchases of fixed badets and other – net |
(91.432 | ) |
(83,837 |
) |
||||||
|
Payments and settlements – net of cash acquired |
(67.111 | ) |
(21,484 |
) |
||||||
|
Net cash used in investing activities |
(158,543 | ) |
(105,321 |
) |
||||||
| CASH FLOW RELATED TO FINANCING ACTIVITIES: | ||||||||||
|
Revolving credit facility – net |
(8,900) | ) |
51,100 |
|||||||
|
Main payments of long-term debt |
(10,750 | ) |
(8063 |
) |
||||||
|
Purchase of own shares |
(126,679 | ) |
(162,195) |
) |
||||||
|
Proceeds from the issuance of common shares upon the exercise of options and |
22 933 |
26,988 |
||||||||
|
Taxes paid relate to the net settlement of stock options |
(7,540 | ) |
(29,798 |
) |
||||||
|
Other payments |
(3,257 | ) |
(1,896 |
) |
||||||
|
Net cash used in financing activities |
(134,193 | ) |
(123 864 |
) |
||||||
|
Effect of exchange rates on cash, cash equivalents and restrictions |
(103 | ) |
1,507 |
|||||||
|
Net increase in cash, cash equivalents and restricted cash |
1,908 |
20,515 |
||||||||
|
Cash, cash equivalents and restricted cash – beginning of period (1) |
36,570 |
16,055 |
||||||||
|
Cash, cash equivalents and restricted cash – end of period (1) |
$ | 38,478 |
$ |
36,570 |
||||||
|
(1) |
With the adoption of Accounting Standards Update 2016-18, Limit |
|
FAMILY SOLUTIONS BRIGHT HORIZONS INC. |
|||||||||||||||||||
|
Three months ended December 31, 2018 |
Full service |
Emergency care |
Educative |
Total | |||||||||||||||
| Returned | $ | 392.529 | $ | 65,513 | $ | 20,199 | $ | 478241 | |||||||||||
| Revenue from operations | 36149 | 21,255 | 6,323 | 63,727 | |||||||||||||||
| Adjusted operating profit | 36149 | 21,255 | 6,323 | 63,727 | |||||||||||||||
|
Three months ended December 31, 2017 |
|||||||||||||||||||
|
Returned |
$ |
362.843 |
$ |
60,093 |
$ |
16.943 |
$ |
439 879 |
|||||||||||
|
Revenue from operations |
30,368 |
16,579 |
5,319 |
52,266 |
|||||||||||||||
| Adjusted operating profit (1) | 31,705 | 16,579 | 5,319 | 53,603 | |||||||||||||||
|
(1) |
Adjusted operating profit represents operating profit |
|
Financial year ended December 31, 2018 |
Full service |
Emergency care |
Educative |
Total | |||||||||||||||
| Returned | $ | 1,586,323 | $ | 245,498 | $ | 71,361 | $ | 1,903,182 | |||||||||||
| Revenue from operations | 152,006 | 68,462 | 18,627 | 239.095 | |||||||||||||||
| Adjusted operating profit (1) | 153,921 | 68,462 | 18,627 | 241,010 | |||||||||||||||
|
Year ended December 31, 2017 |
|||||||||||||||||||
|
Returned |
$ |
1,457,754 |
$ |
224.264 |
$ |
58,887 |
$ |
1,740,905 |
|||||||||||
|
Revenue from operations |
130,289 |
60373 |
14,777 |
205,439 |
|||||||||||||||
| Adjusted operating profit (2) | 137,242 | 60373 | 14,777 | 212392 | |||||||||||||||
|
(1) |
Adjusted operating profit represents operating profit |
||
|
(2) |
Adjusted operating profit represents operating profit |
|
FAMILY SOLUTIONS BRIGHT HORIZONS INC. |
||||||||||||||||||||
| Three months ended December 31 | Years ended December 31 | |||||||||||||||||||
| 2018 | 2017 | 2018 | 2017 | |||||||||||||||||
|
Net revenue |
$ | 46,657 |
$ |
51,444 |
$ | 157,981 |
$ |
156,963 |
||||||||||||
|
Interest expense – net |
12,049 |
11,787 |
47,508 |
44,039 |
||||||||||||||||
|
Tax charge (profit) |
5,021 |
(10,965 |
) |
33,606 |
4,437 |
|||||||||||||||
|
Depreciation |
17,705 |
16,167 |
68,374 |
62,215 |
||||||||||||||||
|
Amortization of intangible badets (a) |
8,092 |
8,320 |
32,569 |
32,561 |
||||||||||||||||
|
EBITDA |
89,524 |
76,753 |
340,038 |
300.215 |
||||||||||||||||
| Additional settings: | ||||||||||||||||||||
|
Deferred rent (B) |
262 |
698 |
1,317 |
4,345 |
||||||||||||||||
|
Stock-based compensation charge (C) |
3,507 |
3,295 |
13,811 |
12,072 |
||||||||||||||||
|
Transaction costs (re) |
– |
1,337 |
1,915 |
6,953 |
||||||||||||||||
|
Total adjustments |
3,769 |
5,330 |
17,043 |
23,370 |
||||||||||||||||
| Adjusted EBITDA | $ | 93,293 |
$ |
82,083 |
$ | 357,081 |
$ |
323.585 |
||||||||||||
|
Revenue from operations |
$ | 63,727 |
$ |
52,266 |
$ | 239.095 |
$ |
205,439 |
||||||||||||
|
Transaction costs (re) |
– |
1,337 |
1,915 |
6,953 |
||||||||||||||||
| Adjusted operating profit | $ | 63,727 |
$ |
53 603 |
$ | 241 010 |
$ |
212.392 |
||||||||||||
|
Revenu net |
$ | 46 657 |
$ |
51 444 |
$ | 157 981 |
$ |
156 963 |
||||||||||||
|
Charge d'impôt (bénéfice) |
5 021 |
(10 965 |
) |
33 606 |
4 437 |
|||||||||||||||
|
Revenu avant impôt sur le revenu |
51 678 |
40 479 |
191 587 |
161 400 |
||||||||||||||||
|
Charge de rémunération à base d'actions (c) |
3 507 |
3 295 |
13 811 |
12 072 |
||||||||||||||||
|
Amortissement des immobilisations incorporelles (une) |
8 092 |
8 320 |
32 569 |
32 561 |
||||||||||||||||
|
Coûts de transaction (ré) |
– |
1 337 |
1 915 |
6 953 |
||||||||||||||||
|
Revenu ajusté avant impôt sur le revenu |
63,277 |
53,431 |
239 882 |
212 986 |
||||||||||||||||
|
Charge d'impôt ajustée e) |
(10,124 | ) |
(9 736 |
) |
(50 345 | ) |
(50 819 |
) |
||||||||||||
| Résultat net ajusté | $ | 53.153 |
$ |
43 695 |
$ | 189 537 |
$ |
162 167 |
||||||||||||
|
Nombre moyen pondéré d’actions ordinaires – dilué |
58 868 992 |
59 643 750 |
59 000 669 |
60 253 691 |
||||||||||||||||
| Bénéfice ajusté dilué par action ordinaire | $ | 0.90 |
$ |
0,73 |
$ | 3.21 |
$ |
2,69 |
||||||||||||
|
SOLUTIONS FAMILIALES BRIGHT HORIZONS INC. |
||||||||||||||||||||
| Orientation avancée (h) | ||||||||||||||||||||
| Trois mois terminés le 31 mars 2019 | Année se terminant le 31 décembre 2019 | |||||||||||||||||||
| Low | Haute | Low | Haute | |||||||||||||||||
|
Revenu net |
$ |
38 100 |
$ |
39 400 |
$ |
170 400 |
$ |
174 000 |
||||||||||||
|
Résultat net attribué aux actions participantes non acquises |
(200 |
) |
(200 |
) |
(800 |
) |
(800 |
) |
||||||||||||
|
La charge d'impôt sur le revenu (F) |
9 600 |
9 700 |
53 300 |
54 300 |
||||||||||||||||
|
Revenu avant impôt sur le revenu |
47 500 |
48 900 |
222 900 |
227 500 |
||||||||||||||||
|
Charge de rémunération à base d'actions (c) |
3 500 |
3 700 |
18 500 |
19 000 |
||||||||||||||||
|
Amortissement des immobilisations incorporelles (une) |
8 400 |
8 500 |
33 500 |
34 250 |
||||||||||||||||
|
Coûts de transaction (ré) |
– |
– |
– |
– |
||||||||||||||||
|
Revenu ajusté avant impôt sur le revenu |
59 400 |
61 100 |
274 900 |
280 750 |
||||||||||||||||
|
Impact fiscal sur le résultat avant impôts ajusté (g) |
(14 200 |
) |
(14,600 |
) |
(65,600 |
) |
(67,250 |
) |
||||||||||||
| Adjusted net income attributable to common stockholders | $ | 45,200 | $ | 46,500 | $ | 209,300 | $ | 213,500 | ||||||||||||
| Per common share information: | ||||||||||||||||||||
|
Diluted earnings per common share |
$ |
0.65 |
$ |
0.67 |
$ |
2.89 |
$ |
2.95 |
||||||||||||
|
Income tax expense (f) |
0.16 |
0.17 |
0.91 |
0.93 |
||||||||||||||||
|
Income before income tax |
0.81 |
0.84 |
3.80 |
3.88 |
||||||||||||||||
|
Stock-based compensation expense (c) |
0.06 |
0.06 |
0.32 |
0.32 |
||||||||||||||||
|
Amortization of intangible badets (a) |
0.14 |
0.14 |
0.57 |
0.58 |
||||||||||||||||
|
Transaction costs (d) |
– |
– |
– |
– |
||||||||||||||||
|
Tax impact on adjusted income before income tax (g) |
(0.24 |
) |
(0.25 |
) |
(1.12 |
) |
(1.15 |
) |
||||||||||||
| Diluted adjusted earnings per common share | $ | 0.77 | $ | 0.79 | $ | 3.57 | $ | 3.63 | ||||||||||||
|
(a) |
Represents amortization of intangible badets, including |
||
|
(b) |
Represents rent expense in excess of cash paid for rent, |
||
|
(c) |
Represents non-cash stock-based compensation expense in accordance |
||
|
(d) |
Represents transaction costs incurred in connection with the |
||
|
(e) |
Represents income tax expense calculated on adjusted income before |
||
|
(f) |
Represents estimated income tax expense using the tax rate of |
||
|
(g) |
Represents estimated tax on adjusted income before income tax using |
||
|
(h) |
Forward guidance amounts are estimated based on a number of |
View source version on businesswire.com: https://www.businesswire.com/news/home/20190212005939/en/
Investors:
Elizabeth Boland
CFO – Bright Horizons
[email protected]
617-673-8125
Kevin Doherty
MD – Solebury Communications Group
[email protected]
203-428-3233
Media:
Ilene Serpa
VP – Communications – Bright Horizons
[email protected]
617-673-8044
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