Skechers USA Inc. said its normalized net income for the fourth quarter was 10 cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS climbed 11.0% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.2 million, an increase of 11.3% from $14.6 million in the year-earlier period.

The normalized profit margin rose to 3.2% from 2.5% in the year-earlier period.

Total revenue grew 27.1% on an annual basis to $726.6 million from $571.9 million, and total operating expenses rose 26.7% year over year to $682.8 million from $538.9 million.

Reported net income grew 35.9% from the prior-year period to $29.5 million, or 19 cents per share, from $21.7 million, or 14 cents per share.

For the year, the company's normalized net income totaled $1.17 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.55.

EPS rose 67.1% from 70 cents in the prior year.

Normalized net income was $179.7 million, an increase of 68.3% from $106.8 million in the prior year.

Full-year total revenue grew 32.4% from the prior-year period to $3.16 billion from $2.39 billion, and total operating expenses rose 29.0% on an annual basis to $2.81 billion from $2.18 billion.

The company said reported net income rose 66.0% on an annual basis to $231.3 million, or $1.50 per share, in the full year, from $139.3 million, or 91 cents per share.