Twin Disc, Inc. grew sales 44.9 percent in the third quarter, from $45.1 million to $65.3 million.
The company attributed growth to fracking systems and higher sales of aftermarket components.
“Strengthening demand trends from customers in the North American fracking market, as well as throughout many of our other global markets, is driving significant growth in sales and profitability,” said Twin Disc president and CEO John H. Batten in a statement.
“The actions we took during the past two years aimed at realigning our cost structure, investing in our products, and supporting our customers is paying off and we are extending our leadership position throughout many of our product categories,” said Batten.
“As our financial results benefit from improving demand, we are working to further expand our competitive position, enhance our operations, and improve the diversification of our business,” said Batten. “We have created a compelling global platform that is well positioned for continued growth.”
Gross margin for the fiscal 2018 third quarter was 31.7 percent, compared to 29.5 percent in the fiscal 2017 third quarter.
The 220-basis point increase in gross profit percent for the fiscal 2018 third quarter compared to the fiscal 2017 third quarter was primarily due to higher volumes, a more profitable mix of product revenues, improved operating efficiencies and a global reduction in fixed manufacturing costs.
Year-to-date, gross margin was 31.6 percent, compared to 27.4 percent for the fiscal 2017 nine months.