Tempur Sealy International Inc. said its first-quarter normalized net income was 57 cents per share, compared with the S&P Capital IQ consensus estimate of 62 cents per share.

EPS rose 46.2% year over year from 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $35.9 million, a gain of 47.2% from $24.4 million in the prior-year period.

The normalized profit margin increased to 5.0% from 3.3% in the year-earlier period.

Total revenue declined on an annual basis to $721.0 million from $739.5 million, and total operating expenses declined 5.1% from the prior-year period to $646.9 million from $681.8 million.

Reported net income increased 66.9% from the prior-year period to $39.4 million, or 63 cents per share, from $23.6 million, or 38 cents per share.