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Sleep Country Canada posts Q4 profit

Sleep Country Canada Holdings Inc. said its normalized net income for the fourth quarter came to C$7.7 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 6.4%.

Total revenue came to C$119.1 million, and total operating expenses came to C$105.5 million.

Reported net income totaled C$8.6 million, or 23 cents per share.

For the year, the company's normalized net income totaled a loss of C$1.28 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of C$1.02.

EPS was a loss of C$1.43 in the prior year.

Normalized net income was a loss of C$35.2 million, compared with a loss of C$28.2 million in the prior year.

Full-year total revenue rose 15.2% on an annual basis to C$456.2 million from C$396.1 million, and total operating expenses rose 11.4% year over year to C$398.3 million from C$357.5 million.

The company said reported net income came to a loss of C$52.9 million, or a loss of C$1.92 per share, in the full year, compared with a loss of C$31.0 million, or a loss of C$1.57 per share, the prior year.