Tempur Sealy International Inc. said its normalized net income for the fourth quarter amounted to 77 cents per share, compared with the S&P Capital IQ consensus estimate of 99 cents per share.

EPS rose 48.5% year over year from 52 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $48.3 million, an increase of 49.0% from $32.4 million in the prior-year period.

The normalized profit margin climbed to 8.5% from 4.3% in the year-earlier period.

Total revenue climbed on an annual basis to $767.3 million from $745.5 million, and total operating expenses decreased from the prior-year period to $663.3 million from $671.7 million.

Reported net income totaled a loss of $11.8 million, or a loss of 19 cents per share, compared to income of $46.7 million, or 75 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled $2.33 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.19.

EPS rose 28.3% from $1.82 in the prior year.

Normalized net income was $146.1 million, a rise of 29.3% from $113.0 million in the prior year.

Full-year total revenue rose 5.4% on an annual basis to $3.15 billion from $2.99 billion, and total operating expenses grew year over year to $2.83 billion from $2.72 billion.

The company said reported net income decreased 32.6% year over year to $73.2 million, or $1.17 per share, in the full year, from $108.7 million, or $1.75 per share.