Sun Hydraulics Corp. (Nasdaq:SNHY) on Tuesday reported a fourth-quarter profit of $5.1 million, up 34 percent from $3.8 million tallied during the same period the year before.

Annual net income also rose to $22.1 million compared with $16.2 million in 2006. The company’s board of directors declared a $0.09 per share dividend on its common stock, payable on April 15 to shareholders of record as of March 31.

"Our foreign sales expanded briskly in 2007," Sun’s CEO and president Allen Carlson stated in a news release. "Approximately 80 percent of the growth last year was generated in Europe and Asia/Pacific, and that strong international demand is continuing in the first quarter."