Bed Bath & Beyond Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to $1.80 per share, compared with the S&P Capital IQ consensus estimate of $1.80 per share.
EPS increased 13.8% year over year from $1.58.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $320.6 million, a decrease from $329.1 million in the fourth quarter ended March 1, 2014.
The normalized profit margin declined to 9.6% from 10.3% in the year-earlier period.
Total revenue increased year over year to $3.34 billion from $3.20 billion, and total operating expenses grew from the prior-year period to $2.80 billion from $2.68 billion.
Reported net income fell on an annual basis to $320.6 million, or $1.80 per share, from $333.6 million, or $1.60 per share.
For the year, the company's normalized net income totaled $4.98 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $5.05.
EPS rose 5.3% from $4.73 in the prior year.
Normalized net income was $939.9 million, a fall of 6.8% from $1.01 billion in the prior year.
Full-year total revenue increased from the prior-year period to $11.88 billion from $11.50 billion, and total operating expenses grew year over year to $10.33 billion from $9.89 billion.
The company said reported net income declined 6.3% on an annual basis to $957.6 million, or $5.07 per share, in the full year, from $1.02 billion, or $4.79 per share.
