MANATEE — Sun Hydraulics Corp. reported strong third quarter sales today.
Net sales were $53 million, a 39 percent increase from October 2010. Net sales for the nine previous months were $158.5 million, up from $108.9 million in October 2010.
The company announced a 3-for-2 stock split in the form of a 50 percent stock dividend, to shareholders of record on June 30.
“Third quarter sales increased in all major geographic regions, with our North American business leading the way,” said Allen Carlson, Sun’s chief executive officer and president. “2011 will be another great year, evidenced by our forecast of breaking the $200 million revenue level. We continue to grow our revenues and gain market share while reporting exceptionally strong operating performance.”