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.