Twin Disc Inc. today reported its best quarter in company history. The Racine-based company posted record fiscal third-quarter net earnings of $7.5 million, or $1.27 per share, up from $3.8 million, or 64 cents per share, in the same period a year ago.
The company's sales for the quarter increased to $86.4 million from $64.1 million a year earlier.
Michael Batten, chairman, president and chief executive officer of Twin Disc, said, "We are delighted with our financial results for fiscal 2007 and our outlook for fiscal 2008. With one quarter remaining, fiscal 2007 should produce the highest financial results in the company's history, as our nine-month earnings are higher than they were for all of fiscal 2006. The fiscal 2007 third quarter represents the 13th consecutive quarter of year-over-year quarterly increases in sales and the eighth consecutive quarter of year-over-year quarterly increases in gross margin, as a percentage of sales, and net earnings."
Twin Disc designs, manufactures and sells marine and heavy-duty off-highway power transmission equipment. Products offered include: marine transmissions, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and control systems.
Twin Disc reports record quarter
Operand type clash: text is incompatible with int
advertisement
Sorry, the story you tried to comment on is not accepting comments.