Sun Hydraulics rises after beating Street Q1 estimates
Sun Hydraulics Corp. (Nasdaq:SNHY) shares are rising 17% after the Sarasota, Fla.-based firm posted first-quarter net sales of $49 million, which beat Wall Street expectations of $47.4 million. A year earlier, Sun Hydraulics’ net sales totaled $40.9 million. Net income for the first quarter rose 33% to $7.7 million, or $0.46 per share, compared with $5.8 million, or $0.35 per share, a year earlier. Wall Street analysts expected the company to earn $0.43 per share.
In Tuesday afternoon trading, SNHY shares are up 16.26%, or $5.08, at $36.33. For detailed price information and recent news stories about Sun Hydraulics, click SNHY.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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