(RTTNews) - Twin Disc Inc. (TWIN) revealed a profit for second quarter of $0.919 million
The company's bottom line came in at $0.919 million, or $0.07 per share. This compares with $0.930 million, or $0.07 per share, last year.
The company's revenue for the period rose 23.2% to $89.921 million from $72.994 million last year.
Twin Disc Inc. earnings at a glance (GAAP) :
-Earnings: $0.919 Mln. vs. $0.930 Mln. last year. -EPS: $0.07 vs. $0.07 last year. -Revenue: $89.921 Mln vs. $72.994 Mln last year.
Twin Disc’s second-quarter net income was impacted by a rise in other expense related to an increase in the amortization of the net actuarial loss related to the company’s domestic defined benefit pension plan.
Jeffrey S. Knutson, CFO of TWIN, said: "In the second quarter, we experienced near-term pressure on margins partially due to mix and several charges associated with inventory rationalization from the Katsa acquisition as we eliminated redundant inventory, streamlined operations and implemented synergies.”
TWIN was up by 4.44 percent at $11.75 in the pre-market trade on the Nasdaq.
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