(RTTNews) -  Sun Hydraulics Corp.'s (SNHY: News ) third-quarter net income declined 91% to $0.6 million from $6.7 million in the year-ago period. On a per share basis, earnings plunged 93% to $0.03 per share from $0.40 in the comparable quarter a year ago.

Five analysts polled by Thomson Reuters expected the company to post break even in the quarter. Analysts' estimates typically exclude one-time items.

Net sales tumbled to $70.1 million from $145.3 million last year. Analysts expected revenues of $22.61 million.
For the fourth quarter, the company expects earnings of $0.05 to $0.07 per share, with approximate revenues of $26 million, down 21% from the fourth quarter of 2008. Analysts expects earnings and revenues of $0.01 per share and $24.68 million respectively.

For 2009, the company expects earnings per share of $0.08 to $0.10 per share, with year-end sales expected approximately $96 million. Analysts for the full year period expects earnings of $0.01 per share and revenues of $94.12 million.

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by RTT Staff Writer

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