secwatch.observer — SEC 8-K summary
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Issuer:     TWIN DISC INC (TWIN)
CIK:        0000100378
Form:       8-K
Filed at:   2021-10-29T23:59:59+00:00
Accession:  0001437749-21-024585
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 5.02, 5.07, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100378/000143774921024585/0001437749-21-024585-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100378/000143774921024585/twin20211028_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-21-024585

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer