Twin Disc, Incorporated announced unaudited consolidated earnings results for the second quarter and six months ended December 27, 2013. For the quarter, the company reported net sales of $63,212,000 against $72,325,000 a year ago. Earnings from operations were $1,359,000 against $5,541,000 a year ago. Earnings before income taxes and non-controlling interest were $1,255,000 against $5,234,000 a year ago. Net earnings attributable to the company were $518,000 or $0.05 diluted per share against $3,360,000 or $0.29 diluted per share a year ago. Earnings before interest, taxes, depreciation and amortization were $4,025,000 against $8,217,000 a year ago.

For the six months, the company reported net sales of $129,638,000 against $141,118,000 a year ago. Earnings from operations were $5,415,000 against $8,337,000 a year ago. Earnings before income taxes and non-controlling interest were $5,091,000 against $7,597,000 a year ago. Net earnings attributable to the company were $1,795,000 or $0.16 diluted per share against $4,591,000 or $0.40 diluted per share a year ago. Earnings before interest, taxes, depreciation and amortization were $10,631,000 against $13,483,000 a year ago. Net cash provided by operating activities was $19,617,000 against $12,092,000 a year ago. Acquisitions of fixed assets were $3,004,000 against $3,529,000 a year ago. The decrease in sales resulted from a lower level of business in both North America and Europe.

The company anticipates investing of $10,000,000 to $15,000,000 in capital expenditures for fiscal 2014 as it continues to upgrade the facilities. The company anticipates results for the fiscal 2014 second half will be similar to first half results.