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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 29, 2024
Mar. 31, 2023
Mar. 29, 2024
Mar. 31, 2023
Net sales $ 74,161 $ 73,772 $ 210,709 $ 193,036
Gross profit 20,940 19,265 58,233 49,585
Marketing, engineering and administrative expenses 17,199 14,626 51,268 45,688
Restructuring expenses 139 33 207 208
Other operating expense (income) 0 1 0 (4,149)
Income from operations 3,602 4,605 6,758 7,838
Interest expense 263 522 1,049 1,682
Other (income) expense, net (959) 178 (649) 13
Non-operating income (expense) (696) 700 400 1,695
Income before income taxes and noncontrolling interest 4,298 3,905 6,358 6,143
Income tax expense 398 548 2,606 2,350
Net income 3,900 3,357 3,752 3,793
Less: Net earnings attributable to noncontrolling interest, net of tax (78) (76) (173) (188)
Net income attributable to Twin Disc $ 3,822 $ 3,281 $ 3,579 $ 3,605
Dividends per share (in dollars per share) $ 0.04 $ 0 $ 0.08 $ 0
Income per share data:        
Basic income per share attributable to Twin Disc common shareholders (in dollars per share) 0.28 0.24 0.26 0.27
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share) $ 0.27 $ 0.24 $ 0.26 $ 0.26
Weighted average shares outstanding data:        
Basic shares outstanding (in shares) 13,742 13,504 13,663 13,455
Diluted shares outstanding (in shares) 13,904 13,662 13,852 13,608
Comprehensive income        
Net income $ 3,900 $ 3,357 $ 3,752 $ 3,793
Benefit plan adjustments, net of income taxes of $10, $(1), $2 and $(5), respectively (191) (29) (470) (1,240)
Translation adjustment during the quarter (3,084) 1,014 (930) 3,116
Unrealized gain (loss) on hedges, net of income taxes of $0, $0, $0 and $0, respectively 196 (224) (73) (26)
Comprehensive income 821 4,118 2,279 5,643
Less: Comprehensive income attributable to noncontrolling interest 34 67 224 277
Comprehensive income attributable to Twin Disc 787 4,051 2,055 5,366
Service Excluding Boat Management System Product Line [Member]        
Cost of goods sold 53,221 54,507 149,377 143,451
Boat Management System Product Line [Member]        
Cost of goods sold $ 0 $ 0 $ 3,099 $ 0