Twin Disc reports 2Q results

Author:
Updated:
Original:

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.

Click here for the full release.

Related

Tommy’s Slalom Shop Adds Dealer

Boulder Boats has locations in Nevada, Arizona and California.

Trade Only Today Returns Tuesday

The daily e-newsletter will not publish Monday, Jan. 18, in observance of Martin Luther King Day.

Mercury and Crownline Make Supply Pact

Under the agreement, Mercury will be the exclusive outboard and sterndrive supplier for the boatbuilder.

Sea Tow Makes Executive Appointment

Thomas Spina, who has more than 25 years of maritime experience in a variety of roles, was named vice president of franchise operations.

Quick Hits: January 15, 2021

IBEX seeks proposals for session topics; Sensible Yacht Cordage changes hands

Godfrey Marine to Host Virtual Showcase

The event is to take place Jan. 23 and will include Godfrey pontoons and Hurricane deckboats.

Boat Shows Throttling Up

2021 is bringing a new paradigm to the winter boat show season.

Correct Craft Plans Expansions

The moves will allow additional growth for Nautique, Supreme, Ingenity and Watershed Innovation.