XML 19 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands
12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Net Sales $ 302,663,000 $ 240,733,000
Cost of goods sold 213,022,000 160,092,000
Gross profit 89,641,000 80,641,000
Marketing, engineering and administrative expenses 71,541,000 61,095,000
Restructuring expenses 1,179,000 3,398,000
Other operating income (1,577,000)
Income from operations 18,498,000 16,148,000
Other income (expense):    
Interest income 43,000 55,000
Interest expense (1,927,000) (282,000)
Other income (expense), net (2,107,000) (1,501,000)
Non-operating income (expense) 3,991,000 1,728,000
(Loss) earnings before income taxes and noncontrolling interest 14,507,000 14,420,000
Income tax expense 3,711,000 4,773,000
Net income 10,796,000 9,647,000
Less: Net earnings attributable to noncontrolling interest, net of tax (123,000) (119,000)
Net income attributable to Twin Disc $ 10,673,000 $ 9,528,000
Income per share data:    
Basic income per share attributable to Twin Disc common shareholders (in dollars per share) $ 0.84 $ 0.82
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share) $ 0.83 $ 0.82
Weighted average shares outstanding data:    
Basic shares outstanding (in shares) 12,571 11,295
Dilutive stock awards (in shares) 111 100
Diluted shares outstanding (in shares) 12,682 11,395
Comprehensive income:    
Net income $ 10,796,000 $ 9,647,000
Foreign currency translation adjustment (2,671,000) 981,000
Benefit plan adjustments, net of income taxes of ($1,242) and $3,207, respectively (4,121,000) 7,924,000
Unrealized loss on cash flow hedge, net of income taxes of $156 and $0 (509,000) 0
Comprehensive income 3,495,000 18,552,000
Less: Comprehensive income attributable to noncontrolling interest (98,000) (145,000)
Comprehensive income attributable to Twin Disc $ 3,397,000 $ 18,407,000