B&G Foods Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 2 amounted to 45 cents per share, compared with the S&P Capital IQ consensus estimate of 47 cents per share.
EPS increased 64.6% year over year from 27 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $26.2 million, a gain of 77.7% from $14.8 million in the prior-year period.
The normalized profit margin rose to 7.7% from 6.2% in the year-earlier period.
Total revenue rose 43.8% on an annual basis to $342.3 million from $238.0 million, and total operating expenses grew 39.9% on an annual basis to $283.1 million from $202.3 million.
Reported net income totaled $11.3 million, or 19 cents per share, compared to $11.3 million, or 21 cents per share, in the year-earlier period.
For the year, the company's normalized net income totaled $1.50 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.58.
EPS rose 20.3% from $1.25 in the prior year.
Normalized net income was $85.1 million, a rise of 26.9% from $67.1 million in the prior year.
Full-year total revenue rose 14.0% on an annual basis to $966.4 million from $848.0 million, and total operating expenses increased 12.2% year over year to $779.1 million from $694.1 million.
The company said reported net income grew 69.2% on an annual basis to $69.1 million, or $1.22 per share, in the full year, from $40.8 million, or 76 cents per share.