Despite sales being relatively
flat during fiscal 2015, net earnings for Twin Disc,
Inc. increased 207 percent.
On Tuesday, Twin Disc also
announced that sales for the fourth quarter were
$67,334,000, compared to $73,566,000 for the same period
last year. For fiscal 2015, sales were $265,790,000,
compared to $263,909,000 for fiscal 2014.
The decline in fourth quarter sales was due to lower
shipments of land-based transmission systems for the
North American oil and gas market, as well as weaker
demand in Asia for commercial marine and oilfield
transmissions, according to the announcement.
Gross margin for the fiscal 2015 fourth quarter was
29 percent, compared to 29.2 percent in the fiscal 2014
fourth quarter. Twin Disc said the slight decrease in
fiscal 2015 fourth quarter gross margin was the result
of a less profitable mix of business, partially offset
by lower warranty expense. For fiscal 2015, gross margin
was 31.2 percent, compared to 29.3 percent for fiscal