Item 5. Market for Registrant’s Common Equity
Item 5. Market for the Registrant's Common Stock , Related Stockholder Matters and Issuer Purchases of Equity Securities
The Company's common stock is traded on the NASDAQ Global Select Market under the symbol TWIN.
Fiscal Year Ended
June 30,2020
Fiscal Year Ended
June 30,2019
Quarter
High
Low
High
Low
First Quarter
$
15.18
$
9.60
$
27.97
$
22.31
Second Quarter
12.59
9.50
23.65
13.40
Third Quarter
11.61
6.06
19.11
13.93
Fourth Quarter
8.35
4.84
19.15
13.33
There were no dividend payments made in the fiscal years ended June 30, 2020 and 2019.
For information regarding the Company’s equity-based compensation plans, see the discussion under Item 12 of this report. As of August 20, 2020, shareholders of record numbered 405.
Recent Sales of Unregistered Securities
On May 13, 2019, the Company issued 139,347 shares of its common stock, valued at $1,991 ($14.29 per share), to settle its earn-out obligation under the June 13, 2018 Share Purchase Agreement entered into by Twin Disc NL Holding B.V., a wholly-owned subsidiary of the Company, with Het Komt Vast Goed B.V., the prior parent of Veth Propulsion Holding B.V. The shares were issued pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, as the Share Purchase Agreement was a privately negotiated transaction that involved substantial due diligence on the part of all parties, and the shares were issued to three entities related to Het Komt Vast Goed B.V.
Issuer Purchases of Equity Securities
Period
(a) Total
Number of
Shares
Purchased
(b) Average
Price Paid
per Share
(c) Total Number
of Shares
Purchased as Part
of Publicly
Announced Plans
or Programs
(d) Maximum Number of
Shares that May Yet Be
Purchased Under the Plans
or Programs
March 28, 2020 – April 24, 2020
0
NA
0
315,000
April 25, 2020 – May 29, 2020
0
NA
0
315,000
May 30, 2020 - June 30, 2020
0
NA
0
315,000
Total
0
NA
0
315 ,000
On February 1, 2008, the Board of Directors authorized the purchase of up to 500,000 shares of Common Stock at market values, of which 250,000 shares were purchased during fiscal 2009 and 125,000 shares were purchased during fiscal 2012. On July 27, 2012, the Board of Directors authorized the purchase of an additional 375,000 shares of Common Stock at market values. This authorization has no expiration. During the second quarter of fiscal 2013, the Company purchased 185,000 shares under this authorization. The Company did not make any purchases during fiscal 2019 and 2020. As of June 30, 2020, 315,000 shares remain authorized for purchase.
13
Item 6. Selected Financial Data
Financial Highlights
(in thousands, except per share amounts)
Fiscal Years Ended June 30,
Statement of Operations Data:
2020
2019
2018
2017
2016
Net sales
$
246,838
$
302,663
$
240,733
$
168,182
$
166,282
Net (loss) income
(39,571
)
10,796
9,647
(6,115
)
(13,013
)
Net (loss) income attributable to Twin Disc
(39,817
)
10,673
9,528
(6,294
)
(13,104
)
Basic (loss) income per share attributable to Twin Disc common shareholders
(3.03
)
0.84
0.82
(0.56
)
(1.17
)
Diluted (loss) income per share attributable to Twin Disc common shareholders
(3.03
)
0.83
0.82
(0.56
)
(1.17
)
Dividends per share
-
-
-
-
0.18
June 30,
Balance Sheet Data
2020
2019
2018
2017
2016
Total assets
$
294,127
$
346,870
$
241,240
$
210,898
$
213,922
Total long-term debt
42,587
42,491
4,824
6,323
8,501
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.