Twin Disc reports 2Q, year-end results


Twin Disc Inc. reported a drop in sales for the fiscal second quarter of 2010, which ended Dec. 25, 2009, as well as for the year to date.

Sales for the quarter were $55,186,000, compared to the near-record level of $81,598,000 for the fiscal 2009 second quarter. Year-to-date, sales were $102,243,000, compared to $154,270,000 for the fiscal 2009 first half.

"Sales continued to be affected by the impact the global recession is having on the company's markets, specifically from customers in the megayacht and industrial markets," the company said in a statement. "This weakness was partially offset by continued demand from the airport, rescue and firefighting market and stable demand from land- and marine-based military, and Asian-Pacific commercial marine markets."

The company recorded a net loss for the fiscal 2010 second quarter of $490,000, or 4 cents per share, compared to net income of $3,433,000, or 31 cents per share, for the second quarter. Year-to-date, the company reported a net loss of $2,894,000, or 26 cents per share, compared to net income of $5,898,000, or 52 cents per diluted share for the fiscal 2009 first half.

Racine, Wis.-based Twin Disc also announced the board of directors declared a regular quarterly cash dividend of 7 cents per share payable March 1, 2010 to shareholders of record on Feb. 12, 2010.


Fairline Yachts Acquired

For the third time in five years, the esteemed U.K. builder has changed hands.

Free Fishing Fun with Cabela’s and Bass Pro Shops

To launch their Gone Fishing promotion, the outdoors companies are donating 40,000 rods and reels to youth-fishing partners and holding free in-store fishing events June 19-20.

Yamaha Rightwaters to Support Wetlands Conservation

The marine manufacturer’s national sustainability program will sponsor the Ducks Unlimited Gulf Coast Initiative.

Boatsetter Enters Global Luxury Yacht Market

With its Boatsetter Lux service, the company is expanding its peer-to-peer rental market into the luxury category.

A Collective Voice Against Tariffs

Organizations in the E.U. and U.S. have issued a statement ahead of next week’s Brussels Summit urging for the termination of retaliatory tariffs.

ABYC Free Webinar Series Returns

The association’s online learning events will continue with “Fuel System Troubleshooting” on June 17.

Getting to Know the Newbies

At last week’s Partners Outdoors symposium, RBFF’s Stephanie Vatalaro shared information that can help the marine industry get to know its new audiences.

Switching to Compostable Bags

Foul-weather gear maker Grundéns will start using eco-packaging that you can cut up and use in the garden.