Twin Disc Inc. today reported fiscal second quarter net earnings $4.2 million, or 37 cents per share, which was down from $5.7 million, or 48 cents per share, in the same period a year ago.
The Racine-based manufacturer's earnings per share figures were adjusted to reflect its December two-for-one stock split.
The company's sales for the quarter improved 10.3 percent to $81.9 million from $74.2 million in the same period a year earlier.
Michael Batten, chairman, president and chief executive officer of Twin Disc, said, "Demand for our products across most of our product lines continues to be historically high; however, we have begun to experience a shift in our sales mix. Most noticeably, we have begun to experience a slow down in demand for our oil and gas transmissions, which has affected profitability. In addition, our industrial markets continue to experience a cyclical softening. However, despite a slowdown in these sectors, our commercial and mega yacht segments of the marine market and our Airport Rescue and Fire Fighting and military markets continue to grow."
Batten said the company plans to continue expanding into new geographic markets.
Twin Disc's earnings fall
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