Leon's Furniture Ltd. said its fourth-quarter normalized net income was 28 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.

EPS decreased 10.2% year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$23.4 million, a decrease of 10.2% from C$26.1 million in the year-earlier period.

The normalized profit margin fell to 4.2% from 4.5% in the year-earlier period.

Total revenue rose year over year to C$586.3 million from C$576.3 million, and total operating expenses climbed year over year to C$544.6 million from C$530.7 million.

Reported net income came to C$31.3 million, or 38 cents per share, compared to C$31.3 million, or 38 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 77 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 96 cents.

EPS declined from 78 cents in the prior year.

Normalized net income was C$63.4 million, a fall from C$64.5 million in the prior year.

Full-year total revenue grew on an annual basis to C$2.03 billion from C$2.01 billion, and total operating expenses increased on an annual basis to C$1.91 billion from C$1.89 billion.

The company said reported net income rose on an annual basis to C$79.9 million, or 97 cents per share, in the full year, from C$79.0 million, or 96 cents per share.