RACINE, Wis. — Sales for power transmission maker Twin Disc’s first quarter were $47.1 million, compared to $72.6 million for the same period last year, the company reported this week, a 35-percent decline.
According to Chairman and CEO Michael E. Batten, the losses can be attributed to the global recession. Batten pointed out that demand for marine pleasure craft has been particularly hard hit, though other areas remain steady.
“While demand from our pleasure craft and industrial markets remains depressed, trends in the commercial marine market, particularly in the Pacific Basin, remain steady,” Batten said in a statement.
To read the company’s complete quarterly report, click here.