Snyder's-Lance Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 2 amounted to 31 cents per share, compared with the S&P Capital IQ consensus estimate of 32 cents per share.
EPS climbed year over year from 30 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $21.7 million, compared with $21.6 million in the prior-year period.
The normalized profit margin increased to 5.2% from 4.9% in the year-earlier period.
Total revenue decreased 7.5% on an annual basis to $405.9 million from $439.0 million, and total operating expenses decreased 8.6% on an annual basis to $368.6 million from $403.1 million.
Reported net income decreased 73.5% year over year to $7.1 million, or 10 cents per share, from $26.9 million, or 38 cents per share.
For the year, the company's normalized net income totaled 91 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.00.
EPS rose 18.4% from 77 cents in the prior year.
Normalized net income was $65.1 million, a rise of 19.2% from $54.6 million in the prior year.
Full-year total revenue increased on an annual basis to $1.66 billion from $1.62 billion, and total operating expenses grew on an annual basis to $1.54 billion from $1.52 billion.
The company said reported net income declined 14.9% year over year to $50.5 million, or 71 cents per share, in the full year, from $59.4 million, or 84 cents per share.