Sun Hydraulics (SNHY) Misses Q1 EPS by 1c
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Sun Hydraulics Reports 2016 First Quarter Results, Economic Indicators Remain Unclear
May 9, 2016 5:00 PM EDTSARASOTA, FL -- (Marketwired) -- 05/09/16 -- Sun Hydraulics Corporation (NASDAQ: SNHY) today reported financial results for the first quarter of 2016 as follows:
(Dollars in millions except net income per share) April 2, 2016 March 28, 2015 Decrease ------------- -------------- -------- Three Months Ended Net sales $ 51.0 $ 54.4 (6)% Net income $ 8.2 $ 10.4 (21)% Net income per share: Basic $ 0.31 $ 0.39 (21)% Diluted $ 0.31 $ 0.39 (21)%
"While demand remained down in all geographic markets, first quarter sales were better than expected," stated Wolfgang Dangel, Sun's President and CEO. "Year over year, global sales were down 6% as end market headwinds persisted in influencing results. Profitability... More
