Note L - Earnings Per Share

6 Months Ended

Dec. 27, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

L. Earnings Per Share

The Company calculates basic earnings per share based upon the weighted average number of common shares outstanding during the period, while the calculation of diluted earnings per share includes the dilutive effect of potential common shares outstanding during the period.  The calculation of diluted earnings per share excludes all potential common shares if their inclusion would have an anti-dilutive effect.  Certain restricted stock award recipients have a non-forfeitable right to receive dividends declared by the Company and are therefore included in computing earnings per share pursuant to the two-class method. 

The components of basic and diluted earnings per share were as follows:

	For the Quarter Ended						For the Two Quarters Ended
	December 27, 2024			December 29, 2023			December 27, 2024			December 29, 2023
Basic:
Net income (loss)	$	1,099		$	935		$	(1,673	)	$	(148	)
Less: Net income attributable to noncontrolling interest, net of tax		(180	)		(5	)		(173	)		(95	)
Net income (loss) attributable to Twin Disc, Incorporated		919			930			(1,846	)		(243	)
Weighted average shares outstanding - basic		13,868			13,718			13,818			13,629
Basic Income (Loss) Per Share:
Net earnings (loss) per share - basic	$	0.07		$	0.07		$	(0.13	)	$	(0.02	)
Diluted:
Net income (loss)	$	1,099		$	935		$	(1,673	)	$	(148	)
Less: Net income attributable to noncontrolling interest, net of tax		(180	)		(5	)		(173	)		(95	)
Net income (loss) attributable to Twin Disc, Incorporated		919			930			(1,846	)		(243	)
Weighted average shares outstanding - basic		13,868			13,718			13,818			13,629
Effect of dilutive stock awards		190			205			-			-
Weighted average shares outstanding - diluted		14,058			13,923			13,818			13,629
Diluted Income (Loss) Per Share:
Net earnings (loss) per share - diluted	$	0.07		$	0.07		$	(0.13	)	$	(0.02	)

The following potential common shares were excluded from diluted EPS for the two quarters ended December 27, 2024 as the Company reported a net loss: 404.3 related to the Company’s unvested PSAs, 7.9 related to the Company’s unvested PSAUs, 171.0 related to the Company’s unvested RS awards, and 68.0 related to the Company’s unvested RSUs.

The following potential common shares were excluded from diluted EPS for the two quarters ended December 29, 2023 as the Company reported a net loss: 330.0 related to the Company’s unvested PSAs, 10.5 related to the Company’s unvested PSAUs, 80.2 related to the Company’s unvested RS awards, and 87.4 related to the Company’s unvested RSUs.