XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2021
Dec. 25, 2020
Dec. 31, 2021
Dec. 25, 2020
Net sales $ 59,889 $ 48,557 $ 107,650 $ 94,737
Cost of goods sold 46,407 39,679 80,721 76,156
Gross profit 13,482 8,878 26,929 18,581
Marketing, engineering and administrative expenses 15,267 13,361 28,357 25,805
Restructuring expenses 1,190 120 1,238 525
Other operating income 45 0 (2,894) 0
(Loss) income from operations (3,020) (4,603) 228 (7,749)
Interest expense 574 590 1,104 1,163
Other expense (income), net (466) 1,724 (110) 2,872
Non-operating income (expense) 108 2,314 994 4,035
Loss before income taxes and noncontrolling interest (3,128) (6,917) (766) (11,784)
Income tax expense (benefit) 622 (2,637) 1,004 (3,567)
Net loss (3,750) (4,280) (1,770) (8,217)
Less: Net earnings attributable to noncontrolling interest, net of tax (86) (33) (144) (75)
Net (loss) income attributable to Twin Disc $ (3,836) $ (4,313) $ (1,914) $ (8,292)
Income (loss) per share data:        
Basic loss per share attributable to Twin Disc common shareholders (in dollars per share) $ (0.29) $ (0.33) $ (0.14) $ (0.63)
Diluted loss per share attributable to Twin Disc common shareholders (in dollars per share) $ (0.29) $ (0.33) $ (0.14) $ (0.63)
Weighted average shares outstanding data:        
Basic shares outstanding (in shares) 13,296 13,255 13,288 13,227
Diluted shares outstanding (in shares) 13,296 13,255 13,288 13,227
Comprehensive (loss) income        
Net loss $ (3,750) $ (4,280) $ (1,770) $ (8,217)
Benefit plan adjustments, net of income taxes of $(115), $177, $2 and $353, respectively 623 555 1,007 1,108
Foreign currency translation adjustment (1,701) 4,899 (3,639) 8,511
Unrealized gain on cash flow hedge, net of income taxes of $(63), $32, $0 and $55, respectively 735 104 939 179
Comprehensive (loss) income (4,093) 1,278 (3,463) 1,581
Less: Comprehensive income attributable to noncontrolling interest (61) (45) (197) (99)
Comprehensive (loss) income attributable to Twin Disc $ (4,154) $ 1,233 $ (3,660) $ 1,482