Twin Disc Q1 sales $47.8M (+3.4%), net income $1.9M vs loss; backlog up 22.5%; appoints CEO Batten as President

TWIN DISC INC

2022-Q1 EPS reported $0.14 revenue$47,761,000

Net income $1.9M ($0.14 diluted EPS) vs net loss of $4.0M ($0.30 loss per share) in prior year.
Sales $47.8M, up 3.4% YoY, driven by improving oil & gas, industrial, and marine markets.
Six-month backlog $86.1M at Sep 24, 2021, up 22.5% from June 30, 2021.
Net debt reduced to $9.8M from $19.7M at June 30, 2021, lowest in over three years.
John H. Batten appointed President in addition to CEO, filling vacancy from James E. Feiertag.

item 2.02 item 5.02 item 5.07 item 7.01 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

James E. Feiertag

President

TWIN · TWIN DISC INC

Effective: 2021-10-28
Successor: John H. Batten
Filed: October 29, 2021, 7:59 PM ET

to fill the vacancy in that office created by the departure of James E. Feiertag.

Role change

John H. Batten

President

TWIN · TWIN DISC INC

Effective: 2021-10-28
Filed: October 29, 2021, 7:59 PM ET

appointed John H. Batten as President of the Company in addition to his role as Chief Executive Officer, to fill the vacancy in that office created by the departure of James E. Feiertag.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.85

James E. Feiertag departed as President at TWIN DISC INC.

Action: departed
Role: President

Exact text from the filing

to fill the vacancy in that office created by the departure of James E. Feiertag.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John H. Batten was appointed as President at TWIN DISC INC.

Action: appointed
Role: President

Exact text from the filing

appointed John H. Batten as President of the Company in addition to his role as Chief Executive Officer, to fill the vacancy in that office created by the departure of James E. Feiertag.

View on SEC.gov

TWIN DISC INC filing history →

Source: SEC EDGAR

accession 0001437749-21-024585

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