SARASOTA, Fla. (AP) _ Sun Hydraulics Corp. (HLIO) on Monday reported second-quarter earnings of $17.3 million.
The Sarasota, Florida-based company said it had net income of 54 cents per share. Earnings, adjusted for one-time gains and costs, came to 65 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The maker of screw-in hydraulic cartridge valves and manifolds posted revenue of $143.8 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $144.8 million.
Sun Hydraulics expects full-year earnings in the range of $2.40 to $2.50 per share, with revenue in the range of $565 million to $575 million.
Sun Hydraulics shares have risen 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $40.33, a decline of 21% in the last 12 months.