April 24. 2012 10:00AM - Last modified: April 24. 2012 10:41AM

Twin Disc soars with record quarter

Racine-based Twin Disc Inc. today reported fiscal third quarter net earnings of $9.4 million, or 81 cents per share, up from $4.5 million, or 40 cents per share, in the same period a year ago.

The company’s quarterly sales grew to $95.5 million from $76.5 million a year earlier.
Michael Batten, chairman and chief executive officer of Twin Disc, said, "The fiscal 2012 third quarter was one of the best overall quarters the company has ever experienced and was the best third quarter the company has ever achieved. Our historic success throughout the year has been driven by robust demand for our oil and gas products; and with the exception of the pleasure craft market, shipments across all our end markets increased during the quarter. High oil prices and the resurgence of drilling in the Gulf Coast, have led to increases in commercial marine activity. The demand from airport rescue and firefighting and legacy military customers remains steady, while there has been a pickup in demand from industrial customers."