Sun Hydraulics (SNHY) Misses Q1 EPS by 1c
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May 9, 2016 5:00 PM EDT
SARASOTA, 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
