Twin Disc, Incorporated Reports Earnings Results for the Second Quarter Ended December 25, 2020
January 29, 2021 at 06:35 pm IST
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Twin Disc, Incorporated announced earnings results for the second quarter ended December 25, 2020. For the second quarter, the company announced sales was USD 48.438 million compared to USD 59.536 million a year ago. Operating loss was USD 4.608 million compared to USD 4.950 million a year ago. Net loss was USD 4.313 million compared to USD 6.516 million a year ago. Basic loss per share from continuing operations was USD 0.33 compared to USD 0.49 a year ago. For the half year, sales was USD 94.581 million compared to USD 118.826 million a year ago. Operating loss was USD 7.759 million compared to USD 11.781 million a year ago. Net loss was USD 8.292 million compared to USD 12.827 million a year ago. Basic loss per share from continuing operations was USD 0.63 compared to USD 0.98 a year ago.
Twin Disc, Incorporated designs, manufactures and sells marine and heavy duty off-highway power transmission equipment. The Company has two reportable segments: Manufacturing and Distribution. The Companyâs products offered include marine transmissions, azimuth drives, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and control systems. The Company sells its products to customers primarily in the pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government and industrial markets. The Company also designs and manufactures gearboxes and power transmission components. It provides modeling, modernization, gearbox repair and maintenance services as well as spare parts. The Companyâs worldwide sales to both domestic and foreign customers are conducted through a direct sales force and a distributor network.
TWIN DISC, INCORPORATED 
