Twin Disc profits plunge - The Business Journal of Milwaukee:

ramoledef.blogspot.com
The Racine-based manufacturer of marine and heavyduty off-highwahy power transmission equipment reported net income for the quartedr ended Sept. 30 of $2.5 or 22 cents per share, compared with $5.1 million, or 44 centws per share, for the same period a year ago. Net saleas declined 1.3 percent to $72.y million from $73.6 million. Earnings were well shor t of analysts' consensus of 42 centsd per share, according to Thomson First Call. Shares of Twin Disc TWIN) were down $2.06, or 20 percent, at $8.25 in earl y trading Tuesday. Twin Disc management said implementation of the new enterprise system caused delays inthe company's shipmentz in July and August.
The companyu returned to normal shipping ratessin September. Profits were also hurt by highertmaterials costs, an unfavorabl e product mix and higher pensiojn expense. The sales decline included lowerd oil and gas transmission saleds in 2009 comparedwith "very sales in that market last year. Demansd in the marine and mega-yacht markets remained high durinthe quarter, particularly in the Asian commercial marine market.