Sun Hydraulics: 3Q Earnings Snapshot
SARASOTA, Fla. (AP) _ Sun Hydraulics Corp. (HLIO) on Monday reported third-quarter earnings of $12.8 million.
The Sarasota, Florida-based company said it had profit of 40 cents per share. Earnings, adjusted for amortization costs and restructuring costs, were 61 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The maker of screw-in hydraulic cartridge valves and manifolds posted revenue of $138 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $137.7 million.
Sun Hydraulics expects full-year earnings in the range of $1.70 to $1.75 per share, with revenue in the range of $550 million to $555 million.
Sun Hydraulics shares have increased 26% since the beginning of the year. In the final minutes of trading on Monday, shares hit $41.93, a fall of 16% in the last 12 months.