XML 15 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Dec. 28, 2018
Dec. 29, 2017
Dec. 28, 2018
Dec. 29, 2017
Net Sales $ 78,107 $ 56,546 $ 152,796 $ 101,611
Cost of goods sold 52,019 38,323 102,723 69,396
Gross profit 26,088 18,223 50,073 32,215
Marketing, engineering and administrative expenses 18,909 15,070 37,894 28,464
Restructuring expenses 434 831 607 2,049
Income from operations 6,745 2,322 11,572 1,702
Interest expense 417 83 1,134 147
Other expense (income), net 798 364 1,118 934
Non-operating income (expense) 1,215 447 2,252 1,081
Income before income taxes and noncontrolling interest 5,530 1,875 9,320 621
Income tax expense 1,451 5,925 2,338 1,267
Net income (loss) 4,079 (4,050) 6,982 (646)
Less: Net earnings attributable to noncontrolling interest, net of tax (6) (63) (47) (76)
Net income (loss) attributable to Twin Disc $ 4,073 $ (4,113) $ 6,935 $ (722)
Income (loss) per share data:        
Basic income (loss) per share attributable to Twin Disc common shareholders (in dollars per share) $ 0.31 $ (0.36) $ 0.56 $ (0.06)
Diluted income (loss) per share attributable to Twin Disc common shareholders (in dollars per share) $ 0.31 $ (0.36) $ 0.56 $ (0.06)
Weighted average shares outstanding data:        
Basic shares outstanding (in shares) 12,909 11,297 12,233 11,278
Diluted shares outstanding (in shares) 12,997 11,297 12,304 11,278
Comprehensive income (loss):        
Net income (loss) $ 4,079 $ (4,050) $ 6,982 $ (646)
Benefit plan adjustments, net of income taxes of $146, $674, $292 and $952, respectively 478 1,734 949 2,208
Translation adjustment during the quarter (1,786) 488 (2,347) 3,029
Comprehensive income (loss) 2,771 (1,828) 5,584 4,591
Less: Comprehensive loss (income) attributable to noncontrolling interest 7 (62) (9) (69)
Comprehensive income (loss) attributable to Twin Disc $ 2,778 $ (1,890) $ 5,575 $ 4,522