Sun Communities Inc. Reveals Drop In Q1 Profit, misses estimates

(RTTNews) - Sun Communities Inc. (SUI) revealed earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $0.7 million, or $0.01 per share. This compares with $24.8 million, or $0.23 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 24.1% to $548.5 million from $442.0 million last year.

Sun Communities Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $0.7 Mln. vs. $24.8 Mln. last year. -EPS (Q1): $0.01 vs. $0.23 last year. -Analyst Estimates: $0.07 -Revenue (Q1): $548.5 Mln vs. $442.0 Mln last year.