Updated:
Original:

Twin Disc reports 3Q results

Twin Disc Inc. reported fiscal 3Q sales that were flat with last year and swung to a profit for the quarter that beat expectations by 12 cents a share.

Twin Disc reported fiscal third-quarter sales that were flat with last year and swung to a profit for the quarter that beat expectations by 12 cents a share.

Revenue was $60.9 million for the quarter that ended March 27, up slightly from $60.7 million last year, but it missed expectations by $2.45 million.

The company reported a profit for the quarter of $2.95 million, or 26 cents a diluted share, compared with a loss of $475,000, or 4 cents a share, a year earlier.

"The first nine months of fiscal 2015 have produced strong top- and bottom-line results, primarily due to better year-over-year demand from North American pressure-pumping customers,” president and CEO John Batten said in a statement.

“Also helping sales in the quarter was higher demand for marine transmissions and aftermarket activity, which were partially offset by the impact of the strengthening U.S. dollar on foreign currency translation,” Batten said.

For the first nine months of the fiscal year, Twin Disc’s sales were $198.5 million, compared with $190.3 million for the first nine months of the previous fiscal year.

The company said the slight increase in fiscal 2015 third-quarter sales resulted from higher shipments at its North American manufacturing and distribution operations across most product markets, offset by moderating demand in the company's Asian markets for commercial marine, and oil and gas products.

Demand in the fiscal 2015 third quarter from European customers remained weak and continued to moderate in Asia; overall demand in North America was stable, influenced by the company's commercial marine, industrial products, and oil and gas markets.

For the 2015 third quarter and the nine-month period, foreign currency translations negatively affected sales by $3.25 million and $4.86 million, respectively.

Related

‘A Phenomenal Success’

The Southampton International Boat Show had more than 88,000 visitors during its 10-day run, after last year’s cancellation.

TopSide Marinas Makes First Two Acquisitions

Founded in January 2020, the firm has thus far acquired Beavers Bend Marina in Oklahoma and Galveston Yacht Basin in Texas.

Two Boosts for Boating and Fishing

MBIA’s Metro Boat show show draws a crowd, and the U.S. Fish and Wildlife Service expands boating and fishing opportunities.

Norwalk Boat Show Held This Weekend

The NMMA show runs through Sunday at Norwalk Cove Marina in Norwalk, Conn.

Raritan Expands Team

Patrick McNeel joins the New Jersey-based manufacturer as a marine equipment product developer.

Industry Mourns Walter “Bing” Burns O’Meara

The longtime publisher of Lakeland Boating magazine has died at 81.

NMMA Announces Hall of Fame Inductees

Regulator Marine’s Joan Maxwell and Bill Watters of Syntec Industries will be honored at IBEX.

Brunswick Acquires SemahTronix

The supplier of wiring harnesses and other electrical assemblies will be part of Brunswick’s growing Advanced Systems Group.