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Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 25, 2022
Mar. 26, 2021
Mar. 25, 2022
Mar. 26, 2021
Net sales $ 59,289 $ 57,640 $ 166,939 $ 152,377
Cost of goods sold 41,598 43,678 122,319 119,835
Gross profit 17,691 13,962 44,620 32,542
Marketing, engineering and administrative expenses 14,396 13,196 42,753 39,000
Restructuring expenses 303 251 1,542 777
Other operating income (63) 0 (2,957) 0
Income (loss) from operations 3,055 515 3,282 (7,235)
Interest expense 490 606 1,594 1,769
Other (income) expense, net (498) (557) (608) 2,314
Non-operating income (expense) (8) 49 986 4,083
Income (loss) before income taxes and noncontrolling interest 3,063 466 2,296 (11,318)
Income tax expense (benefit) 753 300 1,757 (3,267)
Net income (loss) 2,310 166 539 (8,051)
Less: Net earnings attributable to noncontrolling interest, net of tax (79) (72) (223) (147)
Net income (loss) attributable to Twin Disc $ 2,231 $ 94 $ 316 $ (8,198)
Income (loss) per share data:        
Basic income (loss) per share attributable to Twin Disc common shareholders (in dollars per share) $ 0.17 $ 0.01 $ 0.02 $ (0.62)
Diluted income (loss) per share attributable to Twin Disc common shareholders (in dollars per share) $ 0.17 $ 0.01 $ 0.02 $ (0.62)
Weighted average shares outstanding data:        
Basic shares outstanding (in shares) 13,397 13,269 13,339 13,240
Diluted shares outstanding (in shares) 13,457 13,295 13,373 13,240
Comprehensive income (loss)        
Net (loss) income $ 2,310 $ 166 $ 539 $ (8,051)
Benefit plan adjustments, net of income taxes of $4, $177, $4 and $529, respectively 505 583 1,512 1,691
Foreign currency translation adjustment (2,721) (3,008) (6,359) 5,503
Unrealized gain on cash flow hedge, net of income taxes of $0, $60, $0 and $115, respectively 810 193 1,748 372
Comprehensive income (loss) 904 (2,066) (2,560) (485)
Less: Comprehensive income (loss) attributable to noncontrolling interest 38 (34) 235 (133)
Comprehensive income (loss) attributable to Twin Disc $ 942 $ (2,100) $ (2,325) $ (618)