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Sun Hydraulics Corp. (NASDAQ:SNHY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.48%.
Sun Hydraulics Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8.33% to $0.26 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Decreased 5.39% to $43.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sun Hydraulics Corp. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.23. It beat the average revenue estimate of $41.4 million.
Quoting Management: “A stronger than expected fourth quarter allowed us to achieve our highest top line year ever,” said Allen Carlson, Sun Hydraulics’ president and CEO. “Despite deteriorating business conditions in all markets in the second half, we were able to maintain margin performance and add new customers in what was a difficult and uncertain year. On the heels of the $1.00 per share special dividend in December, Sun’s Board has declared another shared distribution totaling approximately $6.0 million, to be paid in March, reflecting the strong performance last year.”
Key Stats (on next page)…
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