United Technologies Corp. said its fourth-quarter normalized net income came to 91 cents per share, compared with the S&P Capital IQ consensus estimate of $1.56 per share.

EPS increased 12.7% year over year from 81 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $738.1 million, an increase of 7.4% from $687.3 million in the prior-year period.

The normalized profit margin rose to 5.0% from 4.8% in the year-earlier period.

Total revenue grew year over year to $14.66 billion from $14.30 billion, and total operating expenses totaled $13.19 billion, compared with $13.07 billion in the prior-year period.

Reported net income totaled $1.02 billion, or $1.26 per share, compared with a loss of $252.6 million, or a loss of 30 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled $5.10 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $6.60.

EPS rose from $4.87 in the prior year.

Normalized net income was $4.21 billion, a fall from $4.30 billion in the prior year.

Full-year total revenue rose on an annual basis to $57.24 billion from $56.10 billion, and total operating expenses grew year over year to $49.16 billion from $48.09 billion.

The company said reported net income rose year over year to $5.06 billion, or $6.13 per share, in the full year, from $4.00 billion, or $4.53 per share.