Twin Disc reports Q2 results

Publish date:
Social count:

Twin Disc announced that second-quarter sales increased 67.9 percent to $56.5 million, due in part to higher demand for marine products in Europe and the United States.

The increase was primarily due to improved demand for the company’s 8500 series transmission systems from North American fracking customers, and higher sales of aftermarket components, the company said.

Year-to-date sales increased 46.2 percent to $101.6 million, compared to $69.5 million for the first half of fiscal 2017.

Gross margin for the fiscal 2018 second quarter was 32.1 percent, compared to 26.6 percent for the same period last year.

The increase 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 31.5 percent, compared to 26.1 percent for the fiscal 2017 first half.

“Twin Disc is experiencing higher demand in marine markets in Europe and the U.S., and in the global patrol boat market, increased demand from airport rescue and firefighting customers, improving demand from industrial customers and stable demand from military customers, while our offshore oil and gas marine markets in Southeast Asia and the U.S. remain weak,” said Twin Disc president and CEO John Batten in a statement.


Yamaha sponsors Jacksonville show

Yamaha has signed on as the presenting sponsor of the Jacksonville In-Water Boat Show that runs April 13 -15 at Metropolitan Park and Marina in Jacksonville, Fla.

Volvo Penta announces contest

Volvo Penta of the Americas is asking new engine owners to submit stories to its inaugural Boating Dreams contest and will award the winner with a Chevrolet Silverado pickup.

MIASF volunteers collect 32 tons of trash

The Marine Industries Association of South Florida and the Marine Industry Cares Foundation, organizers of the 41st Annual Broward County Waterway Cleanup held on March 3, collected 32 tons of trash from 31 sites around the county.

New Jersey saltwater fishing show opens today

The Progressive Saltwater Fishing Expo opens today, nearly doubling its footprint as it moves from the Garden State Exhibit Center in Somerset, N.J., to the larger, more centrally-located New Jersey Convention and Exposition Center in Edison, N.J.