Liberty Tax Inc. said its normalized net income for the fiscal fourth quarter ended April 30 amounted to $2.39 per share, compared with the S&P Capital IQ consensus estimate of $2.14 per share.

EPS increased year over year from $2.29.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $33.9 million, compared with $34.0 million in the prior-year period.

The normalized profit margin climbed to 34.2% from 32.9% in the year-earlier period.

Total revenue decreased year over year to $98.9 million from $103.6 million, and total operating expenses decreased 9.0% on an annual basis to $44.5 million from $48.8 million.

Reported net income declined 17.3% on an annual basis to $26.7 million, or $1.89 per share, from $32.3 million, or $2.18 per share.

For the year, the company's normalized net income totaled $1.42 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.23.

EPS declined 7.2% from $1.53 in the prior year.

Normalized net income was $20.2 million, a decrease of 8.8% from $22.2 million in the prior year.

Full-year total revenue rose on an annual basis to $162.2 million from $159.7 million, and total operating expenses grew on an annual basis to $127.9 million from $122.8 million.

The company said reported net income decreased 60.5% year over year to $8.7 million, or 61 cents per share, in the full year, from $22.0 million, or $1.51 per share.