Twin Disc today reported sales of US$45.0m for its first fiscal quarter, up 25.8% compared to the same period a year ago. The company also reported net income of US$3.4m compared to a loss of US$2.7m a year ago.
Twin Disc said the gain in sales was mainly due to its 8500 series transmissions systems from North American pressure pumping customers and higher sales of its aftermarket components. It also reported gains in European and North American marine markets, though it said the Asian commercial marine market remains flat.
The six-month backlog at September 29, 2017 was $62,665,000, up 89.4% from September 30, 2016.
“While we are optimistic trends in several of our markets are improving, we remain focused on strategies underway that diversify Twin Disc's markets, reduce our cost structure and working capital requirements, and improve manufacturing efficiencies,” says John Batten, president and CEO, in a statement.