Twin Disc, Incorporated Reports Earnings Results for the Second Quarter and Six Months Ended December 30, 2022
February 03, 2023 at 06:30 pm IST
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Twin Disc, Incorporated reported earnings results for the second quarter and six months ended December 30, 2022. For the second quarter, the company reported sales was USD 63.35 million compared to USD 59.89 million a year ago. Net income was USD 1.14 million compared to net loss of USD 3.84 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to basic loss per share from continuing operations of USD 0.29 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to diluted loss per share from continuing operations of USD 0.29 a year ago.
For the six months, sales was USD 119.26 million compared to USD 107.65 million a year ago. Net loss was USD 0.889 million compared to USD 1.91 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to USD 0.14 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, controls systems and non-Twin Disc manufactured products. 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 has manufacturing locations in the United States, Belgium, Italy, Switzerland, and the Netherlands. In addition to these countries, it has distribution locations in Singapore, China, Australia, and Japan.