Twin Disc, Inc. (TWIN) saw its loss widen to $1.85 million, or $0.16 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $0.96 million, or $0.09 a share.
Revenue during the quarter grew 8.81 percent to $45.08 million from $41.43 million in the previous year period. Gross margin for the quarter expanded 627 basis points over the previous year period to 29.49 percent. Operating margin for the quarter stood at negative 7.48 percent as compared to a negative 11.41 percent for the previous year period.
Operating loss for the quarter was $3.37 million, compared with an operating loss of $4.73 million in the previous year period.
Commenting on the results, John H. Batten, President and Chief Executive Officer, said, "Significant orders for our 8500 series transmission systems received during the fiscal 2017 third quarter benefited third quarter sales, profitability and backlog. These orders included a 100-unit order from ProFrac Services, which represented one of the largest single transmission system orders the Company has received. Our proactive decision to maintain inventory of oil and gas transmission systems over the past several quarters allowed Twin Disc to quickly begin shipping 8500 series transmissions to customers in the third quarter."
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