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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. 27, 2020
Mar. 29, 2019
Mar. 27, 2020
Mar. 29, 2019
Net Sales $ 68,636 $ 77,420 $ 187,462 $ 230,216
Cost of goods sold 52,087 54,303 145,566 157,026
Gross profit 16,549 23,117 41,896 73,190
Marketing, engineering and administrative expenses 15,349 17,375 48,106 55,269
Restructuring expenses 532 131 4,902 738
Goodwill and other impairment charge 27,603 27,603
Other operating income (1,357) (1,357)
(Loss) income from operations (26,935) 6,968 (38,715) 18,540
Interest expense 488 449 1,324 1,583
Other expense (income), net 898 490 1,618 1,608
Non-operating income (expense) 1,386 939 2,942 3,191
(Loss) income before income taxes and noncontrolling interest (28,321) 6,029 (41,657) 15,349
Income tax (benefit) expense (3,145) 1,442 (3,722) 3,780
Net (loss) income (25,176) 4,587 (37,935) 11,569
Less: Net earnings attributable to noncontrolling interest, net of tax (54) (27) (122) (75)
Net (loss) income attributable to Twin Disc $ (25,230) $ 4,560 $ (38,057) $ 11,494
(Loss) income per share data:        
Basic (loss) income per share attributable to Twin Disc common shareholders (in dollars per share) $ (1.92) $ 0.35 $ (2.89) $ 0.91
Diluted (loss) income per share attributable to Twin Disc common shareholders (in dollars per share) $ (1.92) $ 0.34 $ (2.89) $ 0.90
Weighted average shares outstanding data:        
Basic shares outstanding (in shares) 13,175 12,914 13,147 12,437
Diluted shares outstanding (in shares) 13,175 13,146 13,147 12,652
Comprehensive (loss) income        
Net (loss) income $ (25,176) $ 4,587 $ (37,935) $ 11,569
Benefit plan adjustments, net of income taxes of $490, $146, $828 and $437, respectively 1,593 478 2,698 1,427
Translation adjustment during the quarter (1,266) (869) (2,615) (3,217)
Unrealized loss on cash flow hedge, net of income taxes of $178, $0, $177 and $0, respectively (582) (579)
Comprehensive (loss) income (25,431) 4,196 (38,431) 9,779
Less: Comprehensive income attributable to noncontrolling interest (46) (44) (132) (52)
Comprehensive (loss) income attributable to Twin Disc $ (25,477) $ 4,152 $ (38,563) $ 9,727