Vera Bradley Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 was 40 cents per share, compared with the S&P Capital IQ consensus estimate of 45 cents per share.
EPS declined 19.5% year over year from 50 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.2 million, a decline of 20.1% from $20.2 million in the fourth quarter ended Feb. 1, 2014.
Total revenue decreased on an annual basis to $152.6 million from $156.4 million, and total operating expenses grew from the prior-year period to $126.7 million from $124.0 million.
Reported net income declined 12.9% on an annual basis to $17.4 million, or 43 cents per share, from $19.9 million, or 49 cents per share.
For the year, the company's normalized net income totaled $1.03 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.02.
EPS declined 30.4% from $1.48 in the prior year.
Normalized net income was $41.9 million, a decrease of 30.4% from $60.2 million in the prior year.
Full-year total revenue fell on an annual basis to $509.0 million from $530.9 million, and total operating expenses grew on an annual basis to $441.5 million from $433.9 million.
The company said reported net income declined 32.5% year over year to $40.6 million, or $1 per share, in the full year, from $60.2 million, or $1.48 per share.
