Orlando, FL 5/8/12 (StreetBeat) -- Generator maker Generac Holdings Inc (NYSE: GNRC) posted better-than-expected quarterly results, helped by strong demand for residential products, and the company raised its full-year outlook, sending its shares up 19 percent before the bell.Generac, which makes generators and other engine-powered products for residential and industrial markets, reported first-quarter net income of $30.1 million, or 44 cents per share, up from $4.8 million, or 7 cents per share, a year earlier.
It earned 96 cents per share on an adjusted basis.
Net sales more than doubled to $294.6 million.
Residential product sales rose 153 percent to $175.1 million.
Analysts on average expected earnings of 71 cents per share on revenue of $249.7 million, according to Thomson Reuters I/B/E/S.
Generac now sees 2012 sales growth at the upper end of its previous outlook of a mid-to-high teens. Second-quarter sales are expected to increase by 35 percent to 40 percent.
Shares of the Waukesha, Wisconsin-based company rose more than $4 to $27.50 in premarket trade on Tuesday. They closed at $23.04 on Monday on the New York Stock Exchange.
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