Aaron's Inc. said its fourth-quarter normalized net income was 68 cents per share, compared with the S&P Capital IQ consensus estimate of 38 cents per share.

EPS increased 14.1% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $49.8 million, an increase of 15.0% from $43.3 million in the prior-year period.

The normalized profit margin rose to 6.1% from 5.8% in the year-earlier period.

Total revenue increased 9.7% year over year to $821.2 million from $748.7 million, and total operating expenses increased 9.3% on an annual basis to $735.4 million from $672.8 million.

Reported net income declined on an annual basis to $22.0 million, or 30 cents per share, from $22.6 million, or 30 cents per share.

For the year, the company's normalized net income totaled $3.03 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.12.

EPS rose 44.6% from $2.10 in the prior year.

Normalized net income was $221.6 million, a rise of 45.2% from $152.6 million in the prior year.

Full-year total revenue increased 18.0% on an annual basis to $3.18 billion from $2.70 billion, and total operating expenses increased 15.2% year over year to $2.80 billion from $2.43 billion.

The company said reported net income rose 73.0% on an annual basis to $135.9 million, or $1.86 per share, in the full year, from $78.5 million, or $1.08 per share.