Culp Inc. said its normalized net income for the fiscal fourth quarter ended May 3 was 34 cents per share, compared with the S&P Capital IQ consensus estimate of 41 cents per share.

EPS climbed 61.9% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.2 million, a gain of 62.3% from $2.6 million in the fourth quarter ended April 27, 2014.

The normalized profit margin increased to 5.3% from 3.5% in the year-earlier period.

Total revenue grew 6.5% year over year to $78.8 million from $74.0 million, and total operating expenses climbed on an annual basis to $72.3 million from $69.6 million.

Reported net income increased 77.1% year over year to $4.9 million, or 39 cents per share, from $2.7 million, or 22 cents per share.

For the year, the company's normalized net income totaled $1.16 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.51.

EPS rose 19.2% from 97 cents in the prior year.

Normalized net income was $14.3 million, an increase of 19.3% from $12.0 million in the prior year.

Full-year total revenue rose 8.0% on an annual basis to $310.2 million from $287.2 million, and total operating expenses rose 7.7% on an annual basis to $287.4 million from $266.9 million.

The company said reported net income declined 14.1% on an annual basis to $15.0 million, or $1.21 per share, in the full year, from $17.5 million, or $1.41 per share.