Carriage Services Inc. said its fourth-quarter normalized net income amounted to 31 cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS increased year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.4 million, a decline from $5.6 million in the prior-year period.

The normalized profit margin fell to 8.8% from 9.4% in the year-earlier period.

Total revenue rose on an annual basis to $61.6 million from $59.4 million, and total operating expenses grew from the prior-year period to $49.2 million from $47.0 million.

Reported net income totaled $5.3 million, or 30 cents per share, compared to $5.3 million, or 29 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled $1.18 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.52.

EPS rose 23.1% from 96 cents in the prior year.

Normalized net income was $21.6 million, a gain of 23.4% from $17.5 million in the prior year.

Full-year total revenue grew 7.2% from the prior-year period to $242.5 million from $226.1 million, and total operating expenses increased on an annual basis to $193.9 million from $186.4 million.

The company said reported net income grew 35.4% year over year to $20.5 million, or $1.12 per share, in the full year, from $15.2 million, or 83 cents per share.