April 24, 2013

Twin Disc posts 3Q loss on 29% sales dip

Twin Disc Inc. reported Tuesday a net loss in its fiscal third quarter as net sales dipped 29 percent on lower demand in the North American oil and gas pressure pumping sector and among European customers.

Racine-based Twin Disc (Nasdaq: TWIN), which manufactures marine and heavy-duty off-highway power transmission equipment, said it posted a net loss of $757,000, or 7 cents per share, compared with net income of $10 million, or 86 cents per share, in the year-ago period.

Net sales dropped to $68.2â;€¦;

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