Sarasota Herald-Tribune
Helios Technologies, Inc. (HLIO) on Monday reported fourth-quarter earnings of $5.6 million. The Sarasota-based company said it had profit of 17 cents per share. Earnings, adjusted for one-time gains and costs, came to 60 cents per share. The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share. The maker of screw-in hydraulic cartridge valves and manifolds posted revenue of $151.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $140.5 million. For the year, the company reported profit of $14.2 million, or 44 cents per share. Revenue was reported as $523 million. Helios Technologies expects full-year earnings in the range of $2.75 to $3.10 per share, with revenue in the range of $675 million to $705 million. Helios Technologies shares have increased 27% since the beginning of the year. On Monday, shares hit $67.55, a rise of 70% in the last 12 months. Results included the acquisition of BWG Holdings I Corp. (known as “Balboa Water Group”) last November. “We ended the year on a strong note with all businesses exceeding our expectations in revenue and profitability," said Josef Matosevic, the company’s president and chief executive officer. "We realized strong demand across a number of our markets, especially in agriculture, marine and health and wellness. The Balboa acquisition also exceeded our expectations in their first two months as part of the Helios family. "