Small Cap Movers

Sun Hydraulics rises after beating Street Q1 estimates

SMALLCAP MARKETPLACE
Will Atkinson | May 06, 2008 3:53pm EDT | Comment
Rating: Unrated [rate it]

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.

Will Atkinson

About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau. Read More


Rate This Article
Rate This Article:
(click a star)
PoorFairGoodBest
Comment on This Article

Enter comment:

 Free registration required