Twin disc inc (TWIN)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Sep'18Jun'18Mar'18Mar'18Dec'17Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10
Net Sales

68,636

59,536

59,290

72,447

77,420

78,107

74,689

74,689

73,774

65,349

65,349

-

56,546

45,064

-

45,084

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cost of goods sold

52,087

43,825

49,654

55,996

54,303

52,019

50,704

50,704

46,170

44,624

44,527

-

38,323

31,072

-

31,790

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net sales

-

-

-

-

-

-

-

-

-

-

-

56,546

-

-

-

-

33,672

35,835

-

41,434

44,829

37,373

67,334

60,941

72,691

64,824

73,566

60,705

63,212

66,426

75,932

68,232

72,325

68,793

96,109

95,490

82,941

81,330

97,367

76,471

75,160

61,395

Cost of goods sold

-

-

-

-

-

-

-

-

-

-

-

38,420

-

-

-

-

24,723

26,662

-

31,816

33,223

29,183

47,800

41,935

50,588

42,435

52,051

44,177

44,668

45,759

55,308

50,558

50,014

49,377

67,863

62,434

53,379

50,562

61,246

48,689

51,403

41,372

Gross profit

16,549

15,711

9,636

16,451

23,117

26,088

23,985

23,985

27,604

20,725

20,822

18,126

18,223

13,992

16,816

13,294

8,949

9,173

11,181

9,618

11,606

8,190

19,534

19,006

22,103

22,389

21,515

16,528

18,544

20,667

20,624

17,674

22,311

19,416

28,246

33,056

29,562

30,768

36,121

27,782

23,757

20,023

Marketing, engineering and administrative expenses

15,349

16,413

16,346

16,271

17,375

18,909

18,986

18,986

18,082

14,747

14,549

15,268

15,070

13,394

14,001

13,737

12,560

12,475

13,209

14,072

14,592

15,240

16,178

15,669

16,507

15,910

17,834

16,870

17,185

15,517

-

17,405

-

-

-

-

-

-

-

-

-

-

Marketing, engineering and administrative expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16,770

16,620

-

17,746

20,097

15,909

22,497

17,054

18,639

14,777

Restructuring expenses

532

4,248

121

441

131

434

173

173

897

452

452

831

831

1,218

424

293

816

258

134

272

515

0

-

0

0

-

-133

0

0

1,094

708

0

0

0

-

-

-

-

-

-

-

-

Goodwill and other impairment charge

27,603

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill and other asset impairment charge

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

2,637

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating income

-

-

-

-

1,357

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-56

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating expense (income)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

500

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Loss) income from operations

-26,935

-4,950

-6,831

-41

6,968

6,745

4,826

4,826

8,625

5,526

5,821

2,027

2,322

-620

2,382

-3,373

-4,427

-3,560

-9,763

-4,726

-3,557

-6,550

74

3,337

5,596

6,479

3,814

-342

1,359

4,056

1,407

269

5,541

2,796

5,237

15,310

9,465

14,859

13,624

10,728

5,118

5,246

Interest expense

488

447

389

344

449

417

717

717

55

80

80

83

83

64

67

61

122

53

70

156

109

91

170

122

150

164

239

220

223

254

434

366

329

306

346

389

381

359

3,028

-430

-440

-439

Other expense (income), net

-898

-29

-691

-500

-490

-798

-319

-319

-296

23

-272

-69

-364

-569

-733

67

456

-110

-160

-187

-231

158

-125

539

142

340

-61

-68

119

34

533

129

22

-127

792

-71

150

394

-1,902

193

89

554

Non-operating income (expense)

-1,386

-476

-1,080

-801

-939

-1,215

-1,036

-1,036

-296

-57

-352

-152

-447

-633

-728

6

334

-163

-83

-343

-340

67

-171

417

-8

176

-179

-288

-104

-220

201

-237

-307

-433

541

-460

-231

35

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-623

-529

-993

(Loss) income before income taxes and noncontrolling interest

-28,321

-5,426

-7,911

-842

6,029

5,530

3,790

3,790

8,329

5,469

5,469

1,875

1,875

-1,253

1,654

-3,367

-4,093

-3,723

-9,846

-5,069

-3,897

-6,483

-97

3,754

5,588

6,655

3,635

-630

1,255

3,836

1,608

32

5,234

2,363

5,778

14,850

9,234

14,894

13,082

10,105

4,589

4,253

Income tax (benefit) expense

-3,145

1,040

-1,618

-69

1,442

1,451

887

887

2,373

1,133

1,133

5,925

5,925

-4,658

478

-1,639

-1,201

-1,052

-4,328

-4,138

-1,608

-2,208

-573

707

1,788

2,593

1,253

-188

689

2,472

1,434

640

1,815

1,097

4,350

4,821

3,385

5,259

6,249

5,563

529

1,556

Net (loss) income

-25,176

-6,466

-6,293

-773

4,587

4,079

2,903

2,903

5,956

4,336

4,336

-4,050

-4,050

3,405

1,176

-1,728

-2,892

-2,671

-5,518

-931

-2,289

-4,275

476

3,047

3,800

4,062

2,382

-442

566

1,364

174

-608

3,419

1,266

1,428

10,029

5,849

9,635

6,833

4,542

4,060

2,697

Less: Net earnings attributable to noncontrolling interest, net of tax

54

50

18

49

27

6

41

41

15

28

28

63

63

13

13

121

20

25

-1

32

12

48

39

101

53

19

58

33

48

87

126

149

59

35

90

45

9

54

74

-6

26

41

Net (loss) income attributable to Twin Disc

-25,230

-6,516

-6,311

-822

4,560

4,073

2,862

2,862

5,941

4,308

4,308

-4,113

-4,113

3,392

1,163

-1,849

-2,912

-2,696

-5,517

-963

-2,301

-4,323

437

2,946

3,747

4,043

2,324

-475

518

1,277

48

-757

3,360

1,231

1,338

9,984

5,840

9,581

6,759

4,548

4,034

2,656

Dividends per share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

-

0.00

0.09

0.09

-

0.09

0.09

0.09

-

0.09

0.09

0.09

-

0.09

0.09

0.09

-

0.09

0.08

0.08

-

0.08

0.07

0.07

(Loss) income per share data:
Basic (loss) income per share attributable to Twin Disc common shareholders (in dollars per share)

-1.92

-0.49

-0.48

-0.06

0.35

0.31

0.24

0.24

0.52

0.37

0.37

-0.36

-0.36

0.29

0.10

-0.16

-0.26

-0.24

-0.48

-0.09

-0.21

-0.39

0.04

0.26

0.33

0.36

0.20

-0.04

0.05

0.11

0.00

-0.07

0.30

0.11

0.12

0.87

0.51

0.84

0.59

0.40

0.36

0.24

Diluted (loss) income per share attributable to Twin Disc common shareholders (in dollars per share)

-1.92

-0.49

-0.48

-0.06

0.34

0.31

0.24

0.24

0.52

0.37

0.37

-0.36

-0.36

0.29

0.10

-0.16

-0.26

-0.24

-0.48

-0.09

-0.21

-0.39

0.04

0.26

0.33

0.36

0.20

-0.04

0.05

0.11

0.01

-0.07

0.29

0.11

0.12

0.86

0.50

0.83

0.58

0.40

0.35

0.24

Weighted average shares outstanding data:
Basic shares outstanding (in shares)

13,175

13,164

13,111

12,739

12,914

12,909

11,722

11,722

11,314

11,313

11,313

11,297

11,297

11,256

11,247

11,250

11,242

11,217

22,290

11

11,197

11,313

33,799

11

11

11,270

11,269

11,265

11,264

11,234

11,239

11,243

11,366

11,368

34,221

11

11

11,396

45,242

11

11

10

Dilutive stock awards (in shares)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

9

0

0

6

12

0

6

6

146

0

68

78

438

0

0

145

575

0

0

0

Diluted shares outstanding (in shares)

13,175

13,164

13,111

12,786

13,146

12,997

11,799

11,799

11,680

11,344

11,344

11,297

11,297

11,259

11,247

11,250

11,242

11,217

22,290

11

11,197

11,313

33,809

11

11

11,276

11,281

11,265

11,270

11,240

11,385

11,243

11,434

11,446

34,659

11

11

11,541

45,817

11

11

11

Comprehensive (loss) income
Net (loss) income

-25,176

-6,466

-6,293

-773

4,587

4,079

2,903

2,903

5,956

4,336

4,336

-4,050

-4,050

3,405

1,176

-1,728

-2,892

-2,671

-5,518

-931

-2,289

-4,275

476

3,047

3,800

4,062

2,382

-442

566

1,364

174

-608

3,419

1,266

1,428

10,029

5,849

9,635

6,833

4,542

4,060

2,697

Benefit plan adjustments, net of income taxes of $490, $146, $828 and $437, respectively

1,593

548

557

-5,548

478

478

471

471

5,242

474

474

1,734

1,734

474

8,396

682

750

672

-9,295

671

805

739

-7,044

542

515

488

4,620

528

528

450

-

-

-

-

-

-

-

-

-

-

-

-

Benefit plan adjustments, net of income taxes of $354, $375, $706 and $759, respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-652

-668

-

-418

-411

-474

-

-

-

-

Translation adjustment during the quarter

-1,266

1,647

-2,996

545

-869

-1,786

-561

-561

-3,897

1,849

1,849

488

488

2,541

3,441

1,059

-4,198

683

623

1,941

-2,316

-1,805

643

-5,892

-4,542

-4,328

-293

1,054

1,119

1,880

-2,073

-874

2,130

1,264

-5,446

2,241

-6,258

-2,275

-

-

-

-

Unrealized loss on cash flow hedge, net of income taxes of $178, $0, $177 and $0, respectively

-582

146

-143

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Benefit plan adjustments, net of income taxes of $3,806, $4,163 and ($6,769), respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

676

-

-

-

-

-

-

-

-

-

-

Other comprehensive income, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,659

-5,847

-1,801

-

-

-

-

Foreign currency translation adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,551

2,830

7,395

Prior service credit, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-107

567

553

Net actuarial loss, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

652

-

-

Comprehensive (loss) income

-25,431

-4,125

-8,875

-6,285

4,196

2,771

2,813

2,813

7,301

6,659

6,659

-1,828

-1,828

6,420

13,013

13

-6,340

-1,316

-14,190

1,681

-3,800

-5,341

-5,925

-2,303

-227

222

6,709

1,140

2,213

3,694

4,427

-806

6,201

3,198

-17,011

12,688

2

7,834

21,170

9,638

7,457

10,645

Less: Comprehensive income attributable to noncontrolling interest

46

50

36

45

44

-7

16

16

50

26

26

62

62

7

43

38

31

81

33

33

19

29

45

46

13

28

29

33

53

41

-3

149

59

35

76

45

9

54

74

-6

26

41

Comprehensive (loss) income attributable to Twin Disc

-25,477

-4,175

-8,911

-6,330

4,152

2,778

2,797

2,797

7,251

6,633

6,633

-1,890

-1,890

6,413

12,970

-25

-6,371

-1,397

-14,223

1,648

-3,819

-5,370

-5,970

-2,349

-240

194

6,680

1,107

2,160

3,653

4,430

-955

6,142

3,163

-17,087

12,643

-7

7,780

21,096

9,644

7,431

10,604