SARASOTA, Fla. (AP) _ Sun Hydraulics Corp. (HLIO) on Monday reported fourth-quarter profit of $13.8 million.
The Sarasota, Florida-based company said it had net income of 43 cents per share. Earnings, adjusted for amortization costs, came to 54 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The maker of screw-in hydraulic cartridge valves and manifolds posted revenue of $125.9 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $123.4 million.
For the year, the company reported profit of $60.3 million, or $1.88 per share. Revenue was reported as $554.7 million.
Sun Hydraulics expects full-year earnings in the range of $2 to $2.30 per share, with revenue in the range of $520 million to $555 million.
Sun Hydraulics shares have declined 14% since the beginning of the year. In the final minutes of trading on Monday, shares hit $39.58, a climb of 2% in the last 12 months.