Twin Disc reports 2Q results - Trade Only Today

Twin Disc reports 2Q results

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Twin Disc today reported an increase in sales for the second quarter, which ended Dec. 31, 2010, but said the company's "pleasure craft marine business continued to be challenging."

Sales for the fiscal 2011 second quarter were $75,160,000, compared to $55,186,000 for the fiscal 2010 second quarter. Year-to-date, sales were $136,555,000, compared to $102,243,000 for the first half of fiscal 2010.

The improvements in sales were the result of growing demand from customers in the oil and gas market. Stable demand continued from the airport, rescue and fire fighting, land- and marine-based military and commercial marine markets, the company said.

"Our fiscal 2011 second-quarter results continued to benefit from sales of our pressure-pumping transmission systems to customers in the oil and gas industry. The market for unconventional drilling remains robust as drillers' need for capacity from high-horsepower rigs catches up with strong oil and gas fundamentals and, as a result, our 8,500 transmission systems orders have returned to peak levels," chairman and CEO Michael Batten said in a statement.

"I am proud that Twin Disc continues to be well-recognized within this industry for our commitments to quality products and excellent customer service. Sales from our other markets including the ARFF, industrial, commercial marine and legacy military markets continue to demonstrate stable demand, while demand from our pleasure craft marine markets remains depressed," he added. "Our product and geographic diversity continues to serve us well."

Racine, Wis.-based Twin Disc, Inc. designs, manufactures and sells marine and heavy-duty off-highway power transmission equipment.

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