Twin Disc (TWIN) 10-Q 6 Nov 18 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 28, 2018	Nov. 02, 2018
Document Information [Line Items]
Entity Registrant Name	TWIN DISC INC
Entity Central Index Key	100,378
Trading Symbol	twin
Current Fiscal Year End Date	--06-17
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		13,087,512
Document Type	10-Q
Document Period End Date	Sep. 28, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 28, 2018	Jun. 30, 2018
Current assets:
Cash	$ 16,557	$ 15,171
Trade accounts receivable, net	45,887	45,422
Inventories	123,439	84,001
Prepaid expenses	7,287	8,423
Other	9,228	6,252
Total current assets	202,398	159,269
Property, plant and equipment, net	68,302	55,467
Deferred income taxes	13,838	18,056
Goodwill, net	27,265	2,692
Intangible assets, net	24,786	1,906
Other assets	4,168	3,850
Total assets	340,757	241,240
Current liabilities:
Accounts payable	31,735	29,368
Accrued liabilities	46,327	32,976
Total current liabilities	78,062	62,344
Long-term debt	37,446	4,824
Lease obligations	17,070	6,527
Accrued retirement benefits	19,985	21,068
Deferred income taxes	7,969	1,203
Other long-term liabilities	1,765	1,658
Total liabilities	162,297	97,624
Commitments and contingencies (Note F)
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value	0	0
Common shares authorized: 30,000,000; issued: 14,632,802 and 13,099,468, respectively; no par value	44,044	11,570
Retained earnings	188,661	178,896
Accumulated other comprehensive loss	(30,760)	(23,792)
Equity before treasury stock	201,945	166,674
Less treasury stock, at cost (1,567,274 and 1,545,783 shares, respectively)	24,005	23,677
Total Twin Disc shareholders' equity	177,940	142,997
Noncontrolling interest	520	619
Total equity	178,460	143,616
Total liabilities and equity	$ 340,757	$ 241,240

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands	Sep. 28, 2018	Jun. 30, 2018
Preferred Shares, Authorized (in shares)	200,000	200,000
Preferred Shares, Issued (in shares)	0	0
Preferred Shares, No Par Value (in dollars per share)	$ 0	$ 0
Common Shares, Authorized (in shares)	30,000,000	30,000,000
Common Shares, Issued (in shares)	14,632,802	13,099,468
Common Shares, No Par Value (in dollars per share)	$ 0	$ 0
Treasury Stock, Shares (in shares)	1,567,274	1,545,783

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Net Sales	$ 74,689	$ 45,064
Cost of goods sold	50,704	31,072
Gross profit	23,985	13,992
Marketing, engineering and administrative expenses	18,986	13,394
Restructuring expenses	173	1,218
Income (loss) from operations	4,826	(620)
Interest expense	717	64
Other expense (income), net	319	569
Non-operating income (expense)	1,036	633
Income (loss) before income taxes and noncontrolling interest	3,790	(1,253)
Income tax expense (benefit)	887	(4,658)
Net income	2,903	3,405
Less: Net earnings attributable to noncontrolling interest, net of tax	(41)	(13)
Net income attributable to Twin Disc	$ 2,862	$ 3,392
Income per share data:
Basic income per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.24	$ 0.29
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.24	$ 0.29
Weighted average shares outstanding data:
Basic shares outstanding (in shares)	11,722	11,256
Diluted shares outstanding (in shares)	11,799	11,259
Comprehensive income:
Net income	$ 2,903	$ 3,405
Benefit plan adjustments, net of income taxes of $146 and $278, respectively	471	474
Foreign currency translation adjustment	(561)	2,541
Comprehensive income	2,813	6,420
Less: Comprehensive income attributable to noncontrolling interest	(16)	(7)
Comprehensive income attributable to Twin Disc	$ 2,797	$ 6,413

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Benefit plan adjustments, tax	$ 146	$ 278

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Cash flows from operating activities:
Net income	$ 2,903	$ 3,405
Adjustments to reconcile net income to net cash provided (used) by operating activities, net of acquired assets:
Depreciation and amortization	2,349	1,644
Amortization of inventory fair value step-up	1,171
Restructuring expenses	(2)	190
Provision for deferred income taxes	3,460	(4,842)
Stock compensation expense and other non-cash changes, net	892	500
Net change in operating assets and liabilities	(9,951)	(2,328)
Net cash provided (used) by operating activities	822	(1,431)
Cash flows from investing activities:
Acquisition of Veth Propulsion, less cash acquired	(59,649)
Acquisitions of fixed assets	(3,556)	(1,467)
Proceeds from sale of fixed assets	30	17
Other, net	(129)	(129)
Net cash used by investing activities	(63,304)	(1,579)
Cash flows from financing activities:
Proceeds from issuance of common stock, net	32,210
Borrowings under long-term debt agreement	35,000
Borrowings under revolving loan agreement	67,103	16,155
Proceeds from exercise of stock options	12
Repayments under revolving loan agreement	(45,231)	(14,236)
Repayments of long-term borrowings	(24,234)
Dividends paid to noncontrolling interest	(115)	(172)
Payments of withholding taxes on stock compensation	(926)	(213)
Net cash provided by financing activities	63,819	1,534
Effect of exchange rate changes on cash	49	570
Net change in cash	1,386	(906)
Cash:
Beginning of period	15,171	16,367
End of period	$ 16,557	$ 15,461

Note A - Basis of Presentation

Note A - Basis of Presentation	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Significant Accounting Policies [Text Block]	A. Basis of Presentation The unaudited condensed consolidated financial statements have been prepared by Twin Disc, Incorporated (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of the Company, include all adjustments, consisting only of normal recurring items, necessary for a fair statement of results for each period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such SEC rules and regulations. The Company believes that the disclosures made are adequate to make the information presented not 10 June 30, 2018. not The unaudited condensed consolidated financial statements and information included in this Quarterly Report on Form 10 10 July 2, 2018 September 28, 2018. 10 not Recently Adopted Accounting Standards a. In May 2014, 2014 09 July 1, 2018, not not July 1, 2018. The Company determined that deferral of revenue is appropriate for certain agreements where the performance of services after product delivery is required. Such services primarily pertain to technical commissioning services by its distribution entities in its marine business, whereby the Company’s technicians calibrate the controls and transmission to ensure proper performance for the customer’s specific application. This service helps identify issues with the ship's design or performance that need to be remediated by the ship builder or other component suppliers prior to the ship being officially accepted into service by the ship buyer. The cumulative effect adjustment of adopting the new standard is not b. In February 2016, 2016 02 12 July 1, 2018 2014 09, For operating leases in which the Company is a lessee, the Company concluded that all existing operating leases under the old guidance continue to be classified as operating leases under the new guidance, and all existing capital leases under the old guidance are classified as finance leases under the new guidance. The Company excluded any lease contracts with terms of twelve The following table presents the effect of the adoption of ASU 2016 02 June 30, 2018: June 30, 2018 Adoption June 30, 2018 As Reported Impact Restated Property, plant and equipment, net $ 48,940 $ 6,527 $ 55,467 Lease obligations - 6,527 6,527 The adoption of ASU 2014 09 2016 02 not September 29, 2017. c. In March 2017, 2017 07 July 1, 2018 The following table presents the effect of the adoption of ASU 2017 07 September 29, 2017: September 29, 2017 Adoption September 29, 2017 As Reported Impact Restated Cost of goods sold $ 31,169 $ (97 ) $ 31,072 Gross profit 13,895 97 13,992 Marketing, engineering and administrative expenses 13,668 (274 ) 13,394 Income (loss) from operations (991 ) 371 (620 ) Other expense (income), net 198 371 569 d. In February 2018, 2018 02 July 1, 2018 $6,903 e. In October 2016, 2016 16 July 1, 2018. not f. In August 2016, 2016 15 eight July 1, 2018. not New Accounting Releases In August 2018, 2018 13 820, December 15, 2019 ( 2021 In August 2018, 2018 14 December 15, 2020 ( 2021 In August 2018, No. 33 10532, X 3 04 3 04 November 5, 2018, second 2019. Special Note Regarding Smaller Reporting Company Status In June 2018, 33 10513; 34 83550, 12b 2 1934, 1 $250 2 $100 $700 no September 10, 2018, first 2019. second 2018. may not may

Note B - Acquisition of Veth Pr

Note B - Acquisition of Veth Propulsion Holding BV	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Business Combination Disclosure [Text Block]	B. Acquisition of Veth Propulsion Holding BV On July 2, 2018, 100% June 13, 2018. Under the terms of the Purchase Agreement, the Company paid an aggregate of approximately $60,729 $4,000. 2018 April 2019. The Company financed the payment of the cash consideration through borrowings of $60,729 June 29, 2018 Consideration Transferred The following table summarizes the consideration transferred at the acquisition date: Cash (a) $ 60,729 Fair value of contingent consideration (b) 2,927 Total $ 63,656 a) In the statement of cash flows, the cash used in the acquisition of Veth Propulsion in the amount of $59,649 $1,080 b) This pertains to the fair value of the earn-out, which was estimated based on a probability-weighted approach. Fair Value Estimate of Assets Acquired and Liabilities Assumed The Company is continuing its review of the fair value estimate of assets acquired and liabilities assumed during the measurement period, which will conclude as soon as the necessary information regarding the facts and circumstances that existed as of the acquisition date is obtained, or otherwise not not one Upon the final determination of the fair value of assets acquired and liabilities assumed, the excess of the purchase price over such fair values is allocated to goodwill. The final determination of the purchase price, fair values and resulting goodwill may The following summarizes the preliminary estimate of fair value of the assets acquired and liabilities assumed at the acquisition date: Cash, including restricted cash $ 1,080 (a) Accounts receivable 10,032 (b) Inventories 27,641 (c) Property, plant and equipment 1,537 (d) Intangibles 23,700 (e) Other assets 259 Accounts payable and customer deposits (17,297 ) Other current liabilities (861 ) Deferred tax liability (7,104 ) (f) Total net assets acquired 38,987 Goodwill 24,669 (g) Total consideration $ 63,656 The following information provides further details about the estimated net step-up in fair value and/or the estimated fair value at the acquisition date for some key balance sheet items. (a) Included in cash is restricted cash in the amount of $435. not 45 September 28, 2018 not (b) Accounts receivable represents contractual amounts receivable from customers less an allowance for doubtful accounts. This amount approximates fair value. (c) Inventories consist of: Raw materials $ 13,297 Projects work in progress at fair value 14,344 Inventories at fair value 27,641 Inventories at book value 22,926 Step-up $ 4,715 As of the effective date of the acquisition, inventory is required to be measured at fair value. Raw materials are typically utilized in operations within one 70% $4,715. (d) The determination of property, plant and equipment is currently in progress. This preliminary amount assumes book value approximates fair value. (e) Intangible assets consist of: Estimated fair value Estimated average useful lives Annual amortization Customer relationships $ 13,600 12 $ 1,133 Technology and know-how 8,300 7 1,186 Tradename 1,800 10 180 Total $ 23,700 $ 2,499 The preliminary fair values were determined primarily using an income method, which utilizes financial forecasts of expected future cash flows. Some of the more significant assumptions used in the development of intangible asset values include: the amount and timing of projected future cash flows, the discount rate selected to measure the risks inherent in future cash flows, and the assessment of the asset’s life cycle and competitive trends impacting the asset, as well as other factors. (f) This represents the net deferred tax liability associated with the fair value of assets acquired and liabilities assumed. (g) The Company is not The fair values presented above are preliminary until the Company completes its work with the use of a third may As part of the acquisition, the Company entered into a fifteen $1,168, Summary Financial Information The following table presents financial information for Veth Propulsion that is included in the Company’s consolidated statement of operations for the first September 28, 2018: Net sales $ 13,353 Gross profit (a) 2,186 Operating loss (b) (720 ) Net loss attributable to Twin Disc $ (950 ) (a) Gross profit includes the non-recurring charge for the step-up of inventories acquired of $1,171 (b) In addition to (a), operating loss includes the amortization of intangible assets acquired of $621 $204. The following table presents unaudited supplemental pro forma information as if the acquisition of Veth Propulsion had occurred on July 1, 2017. Quarter Ended September 29, 2017 Net sales $ 59,709 Gross profit (a) 17,189 Net income attributable to Twin Disc (b) $ 2,715 Basic income per share attributable to Twin Disc $ 0.24 Diluted income per share attributable to Twin Disc $ 0.24 Weighted average number of common shares outstanding: Basic 11,256 Diluted 11,259 (a) Gross profit includes the amortization of the step-up of inventories of $1,171 (b) In addition to (a), this includes the amortization of intangible assets acquired and interest expense on borrowings under the Credit Agreement net of other expenses, amounting to $1,136,

Note C - Revenue Recognition

Note C - Revenue Recognition	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	C. Revenue Recognition Revenue from contracts with customers is recognized using a five 1 2 3 4 5 not not no The Company designs, manufactures and sells marine and heavy duty off highway power transmission equipment. Products offered include: marine transmissions, azimuth drives, surface drives, propellers and boat management systems as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems. The Company sells its products to customers primarily in the commercial, pleasure craft, and military marine markets as well as in the energy and natural resources, government and industrial markets. The Company's worldwide sales to both domestic and foreign customers are transacted through a direct sales force and a distributor network Identify contract with customer: The Company gathered customer contracts and representative customer purchase orders of its various locations. The Company’s customers consist of distributors and direct end-users. With regard to distributors, the Company generally has written distribution agreements which describe the terms of the distribution arrangement, such as the product range, the sales territory, product pricing, sales support, payment and returns policy, etc. Customer contracts are generally in the form of acknowledged purchase orders. Services to be rendered, as part of the delivery of those products, are also generally specified. Such services include installation reviews and technical commissioning. Performance obligations: The Company’s performance obligation as it relates to the delivery of goods is straightforward; the recognition of revenue is generally driven by shipment date and the terms of sale. As it relates to the Company’s service obligations, the Company determined that installation reviews, shift development and technical commissioning are separate and distinct performance obligations. Transaction price: The Company considers the invoice price as the transaction price. Allocation of transaction price: The Company determined that the most relevant allocation method for its service obligations is to apply the expected cost plus appropriate margin. This is the Company’s current practice of billing for repairs, overhaul, and other product service related time incurred by its technicians. Recognize revenue: Revenue is recognized upon transfer of control of the products to the customer. For installation review, shift development, and technical commissioning services, revenue is recognized upon completion of the service. Disaggregated revenue: The following table presents details deemed most relevant to the users of the financial statements for the quarter ended September 28, 2018. Net sales by product group is summarized as follows: Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 6,481 $ 1,396 $ (832 ) $ 7,045 Land-based transmissions 29,432 5,611 (5,407 ) 29,636 Marine and propulsion systems 32,976 14,156 (10,857 ) 36,275 Other 23 1,757 (47 ) 1,733 Total $ 68,912 $ 22,920 $ (17,143 ) $ 74,689 Contract assets /liabiliies : There are no September 28, 2018.

Note D - Inventories

Note D - Inventories	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Inventory Disclosure [Text Block]	D . Inventor ies The major classes of inventories were as follows: September 28, 2018 June 30, 2018 Inventories: Finished parts $ 53,313 $ 49,332 Work in process 27,716 13,183 Raw materials 42,410 21,486 $ 123,439 $ 84,001

Note E - Warranty

Note E - Warranty	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	E . Warranty The Company engages in extensive product quality programs and processes, including actively monitoring and evaluating the quality of its suppliers. However, its warranty obligation is affected by product failure rates, the number of units affected by the failure and the expense involved in satisfactorily addressing the situation. The warranty reserve is established based on our best estimate of the amounts necessary to settle future and existing claims on products sold as of the balance sheet date. When evaluating the adequacy of the reserve for warranty costs, management takes into consideration the term of the warranty coverage, historical claim rates and costs of repair, knowledge of the type and volume of new products and economic trends. While we believe the warranty reserve is adequate and that the judgment applied is appropriate, such amounts estimated to be due and payable in the future could differ materially from what actually transpires. The following is a listing of the activity in the warranty reserve for the quarters ended September 28, 2018 September 29, 2017: For the Quarter Ended September 28, 2018 September 29, 2017 Reserve balance, beginning of period $ 4,407 $ 2,062 Current period expense and adjustments 729 658 Payments or credits to customers (1,020 ) (433 ) Acquisition 557 - Translation (6 ) 39 Reserve balance, end of period $ 4,667 $ 2,326 The current portion of the warranty accrual ( $4,139 $1,968 September 28, 2018 September 29, 2017, $528 $358 September 28, 2018 September 29, 2017,

Note F - Contingencies

Note F - Contingencies	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	F . Contingencies The Company is involved in litigation of which the ultimate outcome and liability to the Company, if any, is not not

Note G - Business Segments

Note G - Business Segments	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	G . Business Segments The Company and its subsidiaries are engaged in the manufacture and sale of marine and heavy-duty off-highway power transmission equipment. Principal products include marine transmissions, azimuth drives, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems. The Company sells to both domestic and foreign customers in a variety of market areas, principally pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government and industrial markets. The Company has two Information about the Company’s segments is summarized as follows: For the Quarter Ended September 28, 2018 September 29, 2017 Net sales Manufacturing segment sales $ 68,912 $ 39,872 Distribution segment sales 22,920 17,662 Inter/Intra segment elimination – manufacturing (14,749 ) (10,332 ) Inter/Intra segment elimination – distribution (2,394 ) (2,138 ) $ 74,689 $ 45,064 Net income attributable to Twin Disc Manufacturing segment net income $ 7,235 $ 5,067 Distribution segment net income 865 669 Corporate and eliminations (5,238 ) (2,344 ) $ 2,862 $ 3,392 Assets September 28, 2018 June 30, 2018 Manufacturing segment assets $ 367,376 $ 266,417 Distribution segment assets 54,544 52,230 Corporate assets and elimination of intercompany assets (81,163 ) (77,407 ) $ 340,757 $ 241,240

Note H - Stock-based Compensati

Note H - Stock-based Compensation	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	H . Stock-Based Compensation Performance Stock Awards (“PSA”) During the first 2019 2018, 37.0 54.9 2019 three June 30, 2021. 55.4. The fiscal 2018 three June 30, 2020. 69.2. There were 182.7 224.9 September 28, 2018 September 29, 2017, $546 $15 September 28, 2018 September 29, 2017, September 28, 2018 $15.02. September 28, 2018, $1,683 2019, 2018 2017 September 28, 2018 September 29, 2017 $0 Restricted Stock Awards (“RS”) The Company has unvested RS awards outstanding that will vest if certain service conditions are fulfilled. The fair value of the RS grants is recorded as compensation expense over the vesting period, which is generally 1 3 first 2019 2018, 4.0 65.8 170.4 309.5 September 28, 2018 September 29, 2017, 2.8 September 28, 2018. no September 29, 2017. $250 $463 September 28, 2018 September 29, 2017, September 28, 2018 September 29, 2017 $1,785 $444, September 28, 2018, $927 three Restricted Stock Unit Awards (“RS U ”) Under the 2018 three first 2019, 38.0 38.0 September 28, 2018. $54 September 28, 2018. September 28, 2018 $25.77. September 28, 2018, $924 three

Note I - Pension and Other Post

Note I - Pension and Other Postretirement Benefit Plans	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	I . Pension and Other Postretirement Benefit Plans The Company has non-contributory, qualified defined benefit plans covering substantially all domestic employees hired prior to October 1, 2003 For the Quarter Ended September 28, 2018 September 29, 2017 Pension Benefits: Service cost $ 246 $ 262 Interest cost 1,092 1,074 Expected return on plan assets (1,331 ) (1,525 ) Amortization of transition obligation 9 9 Amortization of prior service cost 1 1 Amortization of actuarial net loss 678 759 Net periodic benefit cost $ 695 $ 580 Postretirement Benefits: Service cost $ 5 $ 5 Interest cost 76 92 Amortization of actuarial net loss (69 ) 3 Net periodic benefit cost $ 12 $ 100 The Company expects to contribute approximately $2,382 2019. September 28, 2018, $1,054 The Company has reclassified $471 $146 September 28, 2018, $474 $278 September 29, 2017.

Note J - Income Taxes

Note J - Income Taxes	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	J . Income Taxes On December 22, 2017, January 1, 2018; June 30, For the quarter ended September 28, 2018 September 29, 2017, 23.4% 371.7% $3,803 303.5%. 35% 21%. June 30 th 13%. 29.9%. Within the calculation of the Company’s annual effective tax rate the Company has used assumptions and estimates that may The permanent reduction to the U.S. federal corporate income tax rate from 35% 21% January 1, 2018. first 2019 21%. The deemed repatriation transition tax is a tax on previously untaxed accumulated and current earnings and profits of certain foreign subsidiaries. To determine the amount of the transition tax, the Company calculated the amount of post- 1986 zero As no first 2019, 2018 not 100% no no not not not may Under ASC Topic 740, 740" December 22, 2017. December 29, 2017. 118 118 three 1 2 not 3 no 740 no one not 118 not one September 28, 2018, 2019. The Company maintains valuation allowances when it is more likely than not not no Accounting policies for interim reporting require the Company to adjust its effective tax rate each quarter to be consistent with the estimated annual effective tax rate. Under this effective tax rate methodology, the Company applies an estimated annual income tax rate to its year-to-date ordinary earnings to derive its income tax provision each quarter. The Company has approximately $990 September 28, 2018, no September 28, 2018. twelve Annually, the Company files income tax returns in various taxing jurisdictions inside and outside the United States. In general, the tax years that remain subject to examination are 2011 2018 2015. 2010 2013. 2019.

Note K - Goodwill and Other Int

Note K - Goodwill and Other Intangibles	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	K . Goodwill and Other Intangibles Goodwill represents the excess of the consideration transferred net of the acquisition-date fair values of the identifiable assets acquired and the liabilities assumed. The Company reviews goodwill for impairment on a reporting unit basis annually as of the end of the fiscal year, and whenever events or circumstances (“triggering events”) indicate that the carrying value of goodwill may not The fair value of reporting units is primarily driven by projected growth rates and operating results under the income approach using a discounted cash flow model, which applies an appropriate market-participant discount rate, and consideration of other market approach data from guideline public companies. If declining actual operating results or future operating results become indicative that the fair value of the Company’s reporting units has declined below their carrying values, an interim goodwill impairment test may may On July 2, 2018, $24,669 $23,700 may As of September 28, 2018, Net Book Value Rollforward By Reporting Unit Gross Carrying Amount Accumulated Amortization / Impairment Net Book Value European Industrial European Propulsion Balance at June 30, 2018 $ 16,514 $ (13,822 ) $ 2,692 $ 2,692 $ - Acquisition 24,669 - 24,669 - 24,669 Translation adjustment (96 ) - (96 ) (9 ) (87 ) Balance at Septmeber 28, 2018 $ 41,087 $ (13,822 ) $ 27,265 $ 2,683 $ 24,582 For the quarter ended September 28, 2018, no not not September 28, 2018. June 30, 2019. As of September 28, 2018, Net Book Value Rollforward Net Book Value By Asset Type Gross Carrying Amount Accumulated Amortization / Impairment Net Book Value Trade Name Customer Relationships Technology Know-how Other Balance at June 30, 2018 $ 13,485 $ (11,781 ) $ 1,704 $ 1,288 $ - $ - $ 416 Acquisition 23,700 - 23,700 1,800 13,600 8,300 - Other additions 4 - 4 - - - 4 Amortization - (665 ) (665 ) (66 ) (281 ) (295 ) (23 ) Translation adjustment (163 ) - (163 ) (17 ) (91 ) (55 ) - Balance at Septmeber 28, 2018 $ 37,026 $ (12,446 ) $ 24,580 $ 3,005 $ 13,228 $ 7,950 $ 397 Other intangibles consist of certain amortizable acquisition costs, proprietary technology, computer software, licensing agreements and certain customer relationships. The weighted average remaining useful life of the intangible assets included in the table above is approximately 10 Intangible amortization expense was $665 $44 September 28, 2018, September 29, 2017, 2019 five Fiscal Year 2019 $ 1,996 2020 2,662 2021 2,647 2022 2,631 2023 2,628 2024 2,598 The gross carrying amount of the Company’s intangible assets that have indefinite lives and are not September 28, 2018 June 30, 2018 $206 $202,

Note L - Long-term Debt

Note L - Long-term Debt	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	L. Long-term Debt On June 29, 2018, “2016 not $35,000 may, not $50,000 Borrowings under the Credit Agreement are secured by substantially all of the Company’s personal property, including accounts receivable, inventory, machinery and equipment, and intellectual property, and the personal property of Mill-Log Equipment Co., Inc. (“Mill-Log”), a wholly-owned domestic subsidiary of the Company. The Company has also pledged 100% 65% 2016 On July 2, 2018, $60,729 $35,000 $25,729. On September 25, 2018, $32,310 Long-term debt at September 28, 2018 June 30, 2018 September 28, 2018 June 30, 2018 Revolving loans $ 26,581 $ 4,787 Term loan 10,830 - Other 35 37 Total long-term debt $ 37,446 $ 4,824 During the quarter, the average interest rates paid on loans were as follows: 5.1% 2.25% 4.35% As of September 28, 2018, $50,000, $23,419 The Company’s borrowings described above approximates fair value at September 28, 2018 June 30, 2018. 2

Note M - Shareholders' Equity

Note M - Shareholders' Equity	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	M. Shareholders’ Equity The Company completed the sale of 1,533.3 September 25, 2018, $22.50 $2,070 $220, $32,210 September 28, 2018. The Company, from time to time, makes open market purchases of its common stock under authorizations given to it by the Board of Directors, of which 315.0 September 28, 2018 not September 28, 2018 September 29, 2017. The following is a reconciliation of the Company’s equity balances for the first 2019 2018: Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Income (Loss) Stock Interest Equity Balance, June 30, 2018 $ 11,570 $ 178,896 $ (23,792 ) $ (23,677 ) $ 619 $ 143,616 Net income 2,862 41 2,903 Translation adjustments (536 ) (25 ) (561 ) Benefit plan adjustments, net of tax 471 471 Release stranded tax effects 6,903 (6,903 ) - Cash dividends (115 ) (115 ) Compensation expense 850 850 Common stock issued, net 32,210 32,210 Shares acquired, net (586 ) (328 ) (914 ) Balance, September 28, 2018 $ 44,044 $ 188,661 $ (30,760 ) $ (24,005 ) $ 520 $ 178,460 Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Income (Loss) Stock Interest Equity Balance, June 30, 2017 $ 10,429 $ 169,368 $ (32,671 ) $ (24,205 ) $ 646 $ 123,567 Net income 3,392 13 3,405 Translation adjustments 2,547 (6 ) 2,541 Benefit plan adjustments, net of tax 474 474 Cash dividends (172 ) (172 ) Compensation expense 479 479 Shares (acquired) issued, net (1,030 ) 817 (213 ) Balance, September 29, 2017 $ 9,878 $ 172,760 $ (29,650 ) $ (23,388 ) $ 481 $ 130,081 Reconciliations for the changes in accumulated other comprehensive income (loss), net of tax, by component for the quarters ended September 28, 2018, September 29, 2017 Translation Benefit Plan Adjustment Adjustment Balance at June 30, 2018 $ 7,085 $ (30,877 ) Translation adjustment during the quarter (536 ) - Release stranded tax effects - (6,903 ) Amounts reclassified from accumulated other comprehensive income - 471 Net current period other comprehensive income (536 ) (6,432 ) Balance at September 28, 2018 $ 6,549 $ (37,309 ) Translation Benefit Plan Adjustment Adjustment Balance at June 30, 2017 $ 6,130 $ (38,801 ) Translation adjustment during the quarter 2,547 - Amounts reclassified from accumulated other comprehensive income - 474 Net current period other comprehensive income 2,547 474 Balance at September 29, 2017 $ 8,677 $ (38,327 ) Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended September 28, 2018 Amount Reclassified Quarter Ended September 28, 2018 Changes in benefit plan items Actuarial losses $ 607 (a) Transition asset and prior service benefit 10 (a) Total amortization 617 Income taxes 146 Total reclassification net of tax $ 471 Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended September 29, 2017 Amount Reclassified Quarter Ended September 29, 2017 Changes in benefit plan items Actuarial losses $ 742 (a) Transition asset and prior service benefit 10 (a) Total amortization 752 Income taxes 278 Total reclassification net of tax $ 474 (a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note I "Pension and Other Postretirement Benefit Plans" for further details).

Note N - Restructuring of Opera

Note N - Restructuring of Operations	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	N. Restructuring of Operations The Company has implemented various restructuring programs in response to unfavorable macroeconomic trends in certain of the Company’s markets since the fourth 2015. During the current year, the Company implemented continued actions to reduce personnel costs in its Belgian operations and reorganize for productivity in its European operations. These actions resulted in a restructuring charge of $173 September 28, 2018. September 29, 2017, $1,218 Restructuring activities since June 2015 172 September 28, 2018 $9,446. The following is a rollforward of restructuring activity: Accrued restructuring liability, June 30, 2018 $ 90 Additions during the year 173 Payments and adjustments during the year (177 ) Accrued restructuring liability, September 28, 2018 $ 86

Note O - Earnings Per Share

Note O - Earnings Per Share	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	O. Earnings Per Share The Company calculates basic earnings per share based upon the weighted average number of common shares outstanding during the period, while the calculation of diluted earnings per share includes the dilutive effect of potential common shares outstanding during the period. The calculation of diluted earnings per share excludes all potential common shares if their inclusion would have an anti-dilutive effect. Restricted stock award recipients have a non-forfeitable right to receive dividends declared by the Company, and are therefore included in computing earnings per share pursuant to the two The components of basic and diluted earnings per share were as follows: For the Quarter Ended September 28, 2018 September 29, 2017 Basic: Net income $ 2,903 $ 3,405 Less: Net earnings attributable to noncontrolling interest (41 ) (13 ) Less: Undistributed earnings attributable to unvested shares (49 ) (85 ) Net income available to Twin Disc shareholders 2,813 3,307 Weighted average shares outstanding - basic 11,722 11,256 Basic Income Per Share: Net income per share - basic $ 0.24 $ 0.29 Diluted: Net income $ 2,903 $ 3,405 Less: Net earnings attributable to noncontrolling interest (41 ) (13 ) Less: Undistributed earnings attributable to unvested shares (49 ) (85 ) Net income available to Twin Disc shareholders 2,813 3,307 Weighted average shares outstanding - basic 11,722 11,256 Effect of dilutive stock awards 77 3 Weighted average shares outstanding - diluted 11,799 11,259 Diluted Income Per Share: Net income per share - diluted $ 0.24 $ 0.29 The following potential common shares were excluded from diluted EPS for the quarter ended September 28, 2018 180.6 170.4 28.2 3.3 The following potential common shares were excluded from diluted EPS for the quarter ended September 29, 2017 224.9 309.5 9.9

Note P - Lease Liabilities

Note P - Lease Liabilities	3 Months Ended
	Sep. 28, 2018
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	P. Lease Liabilities The Company leases certain office and warehouse space, as well as production and office equipment. The components of lease expense were as follows: For the Quarter Ended September 28, 2018 September 29, 2017 Finance lease cost: Amortization of right-of-use assets $ 1 $ 1 Operating lease cost 880 633 Short-term lease cost 11 33 Variable lease cost 8 3 Total lease cost $ 900 $ 670 Less: Sublease income (16 ) (53 ) Net lease cost $ 884 $ 617 Other information related to leases was as follows: For the Quarter Ended September 28, 2018 September 29, 2017 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 871 $ 579 Operating cash flows from finance leases 1 1 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 12,127 280 Weighted average remaining lease term (years): Operating leases 11.4 5.7 Finance lease 3.8 4.8 Weighted average discount rate: Operating leases 7.6 % 6.5 % Finance leases 4.0 % 4.0 % Approximate future minimum rental commitments under non-cancellable lease as of September 28, 2018 Operating Leases Finance Leases 2019 $ 2,684 $ 2 2020 3,115 3 2021 2,467 3 2022 1,969 3 2023 1,790 - Thereafter 13,212 - Total future lease payments 25,237 11 Less: Amount representing interest (8,167 ) (1 ) Present value of future payments $ 17,070 $ 10 The Company had $17,071 $6,527 September 28, 2018 June 30, 2018, $17,070 $6,527 September 28, 2018 June 30, 2018,

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 28, 2018
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards a. In May 2014, 2014 09 July 1, 2018, not not July 1, 2018. The Company determined that deferral of revenue is appropriate for certain agreements where the performance of services after product delivery is required. Such services primarily pertain to technical commissioning services by its distribution entities in its marine business, whereby the Company’s technicians calibrate the controls and transmission to ensure proper performance for the customer’s specific application. This service helps identify issues with the ship's design or performance that need to be remediated by the ship builder or other component suppliers prior to the ship being officially accepted into service by the ship buyer. The cumulative effect adjustment of adopting the new standard is not b. In February 2016, 2016 02 12 July 1, 2018 2014 09, For operating leases in which the Company is a lessee, the Company concluded that all existing operating leases under the old guidance continue to be classified as operating leases under the new guidance, and all existing capital leases under the old guidance are classified as finance leases under the new guidance. The Company excluded any lease contracts with terms of twelve The following table presents the effect of the adoption of ASU 2016 02 June 30, 2018: June 30, 2018 Adoption June 30, 2018 As Reported Impact Restated Property, plant and equipment, net $ 48,940 $ 6,527 $ 55,467 Lease obligations - 6,527 6,527 The adoption of ASU 2014 09 2016 02 not September 29, 2017. c. In March 2017, 2017 07 July 1, 2018 The following table presents the effect of the adoption of ASU 2017 07 September 29, 2017: September 29, 2017 Adoption September 29, 2017 As Reported Impact Restated Cost of goods sold $ 31,169 $ (97 ) $ 31,072 Gross profit 13,895 97 13,992 Marketing, engineering and administrative expenses 13,668 (274 ) 13,394 Income (loss) from operations (991 ) 371 (620 ) Other expense (income), net 198 371 569 d. In February 2018, 2018 02 July 1, 2018 $6,903 e. In October 2016, 2016 16 July 1, 2018. not f. In August 2016, 2016 15 eight July 1, 2018. not New Accounting Releases In August 2018, 2018 13 820, December 15, 2019 ( 2021 In August 2018, 2018 14 December 15, 2020 ( 2021 In August 2018, No. 33 10532, X 3 04 3 04 November 5, 2018, second 2019. Special Note Regarding Smaller Reporting Company Status In June 2018, 33 10513; 34 83550, 12b 2 1934, 1 $250 2 $100 $700 no September 10, 2018, first 2019. second 2018. may not may

Note A - Basis of Presentation

Note A - Basis of Presentation (Tables)	3 Months Ended
	Sep. 28, 2018
Accounting Standards Update 2017-07 [Member]
Notes Tables
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	September 29, 2017 Adoption September 29, 2017 As Reported Impact Restated Cost of goods sold $ 31,169 $ (97 ) $ 31,072 Gross profit 13,895 97 13,992 Marketing, engineering and administrative expenses 13,668 (274 ) 13,394 Income (loss) from operations (991 ) 371 (620 ) Other expense (income), net 198 371 569
Accounting Standards Update 2016-02 [Member]
Notes Tables
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	June 30, 2018 Adoption June 30, 2018 As Reported Impact Restated Property, plant and equipment, net $ 48,940 $ 6,527 $ 55,467 Lease obligations - 6,527 6,527

Note B - Acquisition of Veth _2

Note B - Acquisition of Veth Propulsion Holding BV (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Schedule of Business Acquisitions by Acquisition, Consideration Transferred [Table Text Block]	Cash (a) $ 60,729 Fair value of contingent consideration (b) 2,927 Total $ 63,656
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Cash, including restricted cash $ 1,080 (a) Accounts receivable 10,032 (b) Inventories 27,641 (c) Property, plant and equipment 1,537 (d) Intangibles 23,700 (e) Other assets 259 Accounts payable and customer deposits (17,297 ) Other current liabilities (861 ) Deferred tax liability (7,104 ) (f) Total net assets acquired 38,987 Goodwill 24,669 (g) Total consideration $ 63,656
Schedule of Inventory Acquired, Measured at Fair Value [Table Text Block]	Raw materials $ 13,297 Projects work in progress at fair value 14,344 Inventories at fair value 27,641 Inventories at book value 22,926 Step-up $ 4,715
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Estimated fair value Estimated average useful lives Annual amortization Customer relationships $ 13,600 12 $ 1,133 Technology and know-how 8,300 7 1,186 Tradename 1,800 10 180 Total $ 23,700 $ 2,499
Business Acquisition, Pro Forma Information, Actual [Table Text Block]	Net sales $ 13,353 Gross profit (a) 2,186 Operating loss (b) (720 ) Net loss attributable to Twin Disc $ (950 )
Business Acquisition, Pro Forma Information [Table Text Block]	Quarter Ended September 29, 2017 Net sales $ 59,709 Gross profit (a) 17,189 Net income attributable to Twin Disc (b) $ 2,715 Basic income per share attributable to Twin Disc $ 0.24 Diluted income per share attributable to Twin Disc $ 0.24 Weighted average number of common shares outstanding: Basic 11,256 Diluted 11,259

Note C - Revenue Recognition (T

Note C - Revenue Recognition (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Disaggregation of Revenue [Table Text Block]	Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 6,481 $ 1,396 $ (832 ) $ 7,045 Land-based transmissions 29,432 5,611 (5,407 ) 29,636 Marine and propulsion systems 32,976 14,156 (10,857 ) 36,275 Other 23 1,757 (47 ) 1,733 Total $ 68,912 $ 22,920 $ (17,143 ) $ 74,689

Note D - Inventories (Tables)

Note D - Inventories (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 28, 2018 June 30, 2018 Inventories: Finished parts $ 53,313 $ 49,332 Work in process 27,716 13,183 Raw materials 42,410 21,486 $ 123,439 $ 84,001

Note E - Warranty (Tables)

Note E - Warranty (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	For the Quarter Ended September 28, 2018 September 29, 2017 Reserve balance, beginning of period $ 4,407 $ 2,062 Current period expense and adjustments 729 658 Payments or credits to customers (1,020 ) (433 ) Acquisition 557 - Translation (6 ) 39 Reserve balance, end of period $ 4,667 $ 2,326

Note G - Business Segments (Tab

Note G - Business Segments (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Quarter Ended September 28, 2018 September 29, 2017 Net sales Manufacturing segment sales $ 68,912 $ 39,872 Distribution segment sales 22,920 17,662 Inter/Intra segment elimination – manufacturing (14,749 ) (10,332 ) Inter/Intra segment elimination – distribution (2,394 ) (2,138 ) $ 74,689 $ 45,064 Net income attributable to Twin Disc Manufacturing segment net income $ 7,235 $ 5,067 Distribution segment net income 865 669 Corporate and eliminations (5,238 ) (2,344 ) $ 2,862 $ 3,392
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Assets September 28, 2018 June 30, 2018 Manufacturing segment assets $ 367,376 $ 266,417 Distribution segment assets 54,544 52,230 Corporate assets and elimination of intercompany assets (81,163 ) (77,407 ) $ 340,757 $ 241,240

Note I - Pension and Other Po_2

Note I - Pension and Other Postretirement Benefit Plans (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Schedule of Net Funded Status [Table Text Block]	For the Quarter Ended September 28, 2018 September 29, 2017 Pension Benefits: Service cost $ 246 $ 262 Interest cost 1,092 1,074 Expected return on plan assets (1,331 ) (1,525 ) Amortization of transition obligation 9 9 Amortization of prior service cost 1 1 Amortization of actuarial net loss 678 759 Net periodic benefit cost $ 695 $ 580 Postretirement Benefits: Service cost $ 5 $ 5 Interest cost 76 92 Amortization of actuarial net loss (69 ) 3 Net periodic benefit cost $ 12 $ 100

Note K - Goodwill and Other I_2

Note K - Goodwill and Other Intangibles (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Schedule of Goodwill [Table Text Block]	Net Book Value Rollforward By Reporting Unit Gross Carrying Amount Accumulated Amortization / Impairment Net Book Value European Industrial European Propulsion Balance at June 30, 2018 $ 16,514 $ (13,822 ) $ 2,692 $ 2,692 $ - Acquisition 24,669 - 24,669 - 24,669 Translation adjustment (96 ) - (96 ) (9 ) (87 ) Balance at Septmeber 28, 2018 $ 41,087 $ (13,822 ) $ 27,265 $ 2,683 $ 24,582
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Net Book Value Rollforward Net Book Value By Asset Type Gross Carrying Amount Accumulated Amortization / Impairment Net Book Value Trade Name Customer Relationships Technology Know-how Other Balance at June 30, 2018 $ 13,485 $ (11,781 ) $ 1,704 $ 1,288 $ - $ - $ 416 Acquisition 23,700 - 23,700 1,800 13,600 8,300 - Other additions 4 - 4 - - - 4 Amortization - (665 ) (665 ) (66 ) (281 ) (295 ) (23 ) Translation adjustment (163 ) - (163 ) (17 ) (91 ) (55 ) - Balance at Septmeber 28, 2018 $ 37,026 $ (12,446 ) $ 24,580 $ 3,005 $ 13,228 $ 7,950 $ 397
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Fiscal Year 2019 $ 1,996 2020 2,662 2021 2,647 2022 2,631 2023 2,628 2024 2,598

Note L - Long-term Debt (Tables

Note L - Long-term Debt (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Schedule of Debt [Table Text Block]	September 28, 2018 June 30, 2018 Revolving loans $ 26,581 $ 4,787 Term loan 10,830 - Other 35 37 Total long-term debt $ 37,446 $ 4,824

Note M - Shareholders' Equity (

Note M - Shareholders' Equity (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Income (Loss) Stock Interest Equity Balance, June 30, 2018 $ 11,570 $ 178,896 $ (23,792 ) $ (23,677 ) $ 619 $ 143,616 Net income 2,862 41 2,903 Translation adjustments (536 ) (25 ) (561 ) Benefit plan adjustments, net of tax 471 471 Release stranded tax effects 6,903 (6,903 ) - Cash dividends (115 ) (115 ) Compensation expense 850 850 Common stock issued, net 32,210 32,210 Shares acquired, net (586 ) (328 ) (914 ) Balance, September 28, 2018 $ 44,044 $ 188,661 $ (30,760 ) $ (24,005 ) $ 520 $ 178,460 Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Income (Loss) Stock Interest Equity Balance, June 30, 2017 $ 10,429 $ 169,368 $ (32,671 ) $ (24,205 ) $ 646 $ 123,567 Net income 3,392 13 3,405 Translation adjustments 2,547 (6 ) 2,541 Benefit plan adjustments, net of tax 474 474 Cash dividends (172 ) (172 ) Compensation expense 479 479 Shares (acquired) issued, net (1,030 ) 817 (213 ) Balance, September 29, 2017 $ 9,878 $ 172,760 $ (29,650 ) $ (23,388 ) $ 481 $ 130,081
Reconciliation For The Changes In Accumulated Other Comprehensive Income Loss Net Of Tax By Component [Table Text Block]	Translation Benefit Plan Adjustment Adjustment Balance at June 30, 2018 $ 7,085 $ (30,877 ) Translation adjustment during the quarter (536 ) - Release stranded tax effects - (6,903 ) Amounts reclassified from accumulated other comprehensive income - 471 Net current period other comprehensive income (536 ) (6,432 ) Balance at September 28, 2018 $ 6,549 $ (37,309 ) Translation Benefit Plan Adjustment Adjustment Balance at June 30, 2017 $ 6,130 $ (38,801 ) Translation adjustment during the quarter 2,547 - Amounts reclassified from accumulated other comprehensive income - 474 Net current period other comprehensive income 2,547 474 Balance at September 29, 2017 $ 8,677 $ (38,327 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount Reclassified Quarter Ended September 28, 2018 Changes in benefit plan items Actuarial losses $ 607 (a) Transition asset and prior service benefit 10 (a) Total amortization 617 Income taxes 146 Total reclassification net of tax $ 471 Amount Reclassified Quarter Ended September 29, 2017 Changes in benefit plan items Actuarial losses $ 742 (a) Transition asset and prior service benefit 10 (a) Total amortization 752 Income taxes 278 Total reclassification net of tax $ 474

Note N - Restructuring of Ope_2

Note N - Restructuring of Operations (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Restructuring and Related Costs [Table Text Block]	Accrued restructuring liability, June 30, 2018 $ 90 Additions during the year 173 Payments and adjustments during the year (177 ) Accrued restructuring liability, September 28, 2018 $ 86

Note O - Earnings Per Share (Ta

Note O - Earnings Per Share (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Quarter Ended September 28, 2018 September 29, 2017 Basic: Net income $ 2,903 $ 3,405 Less: Net earnings attributable to noncontrolling interest (41 ) (13 ) Less: Undistributed earnings attributable to unvested shares (49 ) (85 ) Net income available to Twin Disc shareholders 2,813 3,307 Weighted average shares outstanding - basic 11,722 11,256 Basic Income Per Share: Net income per share - basic $ 0.24 $ 0.29 Diluted: Net income $ 2,903 $ 3,405 Less: Net earnings attributable to noncontrolling interest (41 ) (13 ) Less: Undistributed earnings attributable to unvested shares (49 ) (85 ) Net income available to Twin Disc shareholders 2,813 3,307 Weighted average shares outstanding - basic 11,722 11,256 Effect of dilutive stock awards 77 3 Weighted average shares outstanding - diluted 11,799 11,259 Diluted Income Per Share: Net income per share - diluted $ 0.24 $ 0.29

Note P - Lease Liabilities (Tab

Note P - Lease Liabilities (Tables)	3 Months Ended
	Sep. 28, 2018
Notes Tables
Lease, Cost [Table Text Block]	For the Quarter Ended September 28, 2018 September 29, 2017 Finance lease cost: Amortization of right-of-use assets $ 1 $ 1 Operating lease cost 880 633 Short-term lease cost 11 33 Variable lease cost 8 3 Total lease cost $ 900 $ 670 Less: Sublease income (16 ) (53 ) Net lease cost $ 884 $ 617
Operating and Finance Leases, Other Disclosures [Table Text Block]	For the Quarter Ended September 28, 2018 September 29, 2017 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 871 $ 579 Operating cash flows from finance leases 1 1 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 12,127 280 Weighted average remaining lease term (years): Operating leases 11.4 5.7 Finance lease 3.8 4.8 Weighted average discount rate: Operating leases 7.6 % 6.5 % Finance leases 4.0 % 4.0 %
Schedule of Future Minimum Rental Payments for Operating Leases and Finance Lease, Liability, Maturity [Table Text Block]	Operating Leases Finance Leases 2019 $ 2,684 $ 2 2020 3,115 3 2021 2,467 3 2022 1,969 3 2023 1,790 - Thereafter 13,212 - Total future lease payments 25,237 11 Less: Amount representing interest (8,167 ) (1 ) Present value of future payments $ 17,070 $ 10

Note A - Basis of Presentatio_2

Note A - Basis of Presentation (Details Textual) $ in Thousands	3 Months Ended
	Sep. 28, 2018USD ($)
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect
Retained Earnings [Member]
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect	6,903
AOCI Attributable to Parent [Member]
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect	$ (6,903)

Note A - Basis of Presentatio_3

Note A - Basis of Presentation - Summary of Effect of Adopting ASU 2016-02 on the Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 28, 2018	Jun. 30, 2018
Property, plant and equipment, net	$ 68,302	$ 55,467
Lease obligations	$ 17,070	6,527
Previously Reported [Member]
Property, plant and equipment, net		48,940
Lease obligations
Restatement Adjustment [Member] | Accounting Standards Update 2016-02 [Member]
Property, plant and equipment, net		6,527
Lease obligations		$ 6,527

Note A - Basis of Presentatio_4

Note A - Basis of Presentation - Summary of Effects of Adopting ASU 2017-07 on the Condensed Statements of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Cost of goods sold	$ 50,704	$ 31,072
Gross profit	23,985	13,992
Marketing, engineering and administrative expenses	18,986	13,394
Income (loss) from operations	4,826	(620)
Other expense (income), net	$ 319	569
Previously Reported [Member]
Cost of goods sold		31,169
Gross profit		13,895
Marketing, engineering and administrative expenses		13,668
Income (loss) from operations		(991)
Other expense (income), net		198
Restatement Adjustment [Member] | Accounting Standards Update 2017-07 [Member]
Cost of goods sold		(97)
Gross profit		97
Marketing, engineering and administrative expenses		(274)
Income (loss) from operations		371
Other expense (income), net		$ 371

Note B - Acquisition of Veth _3

Note B - Acquisition of Veth Propulsion Holding BV (Details Textual) - USD ($) $ in Thousands		Jul. 02, 2018	Sep. 28, 2018	Sep. 29, 2017	Sep. 28, 2017
Proceeds from Issuance of Long-term Debt, Total			$ 35,000
Payments to Acquire Businesses, Net of Cash Acquired, Total			59,649
Amortization of Inventory Fair Value Step-up			1,171
Amortization of Intangible Assets, Total			$ 665	$ 44
The 2018 Credit Agreement [Member]
Proceeds from Issuance of Long-term Debt, Total		$ 60,729
Veth Propulsion [Member]
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Payments to Acquire Businesses, Gross	[1]	$ 60,729
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		4,000
Payments to Acquire Businesses, Net of Cash Acquired, Total		59,649
Cash Acquired from Acquisition		1,080
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Restricted Cash		$ 435
Business Acquisition, Expiration Period for Arrangements			45 days
Percentage of Work in Process of Inventory Completed		70.00%
Inventory, Net, Step-up Value Amount		$ 4,715
Amortization of Inventory Fair Value Step-up			$ 1,171		$ 1,171
Amortization of Intangible Assets, Total			621
Business Combination, Acquisition Related Costs			$ 204
Amortization of Intangible Assets and Interest Expense of Long-term Debt, Total, Before Tax					$ 1,136
Veth Propulsion [Member] | Het Komt Vast Goed B.V. [Member]
Lessee, Operating Lease, Term of Contract		15 years
Lessee, Operating Lease, Annual Rent Payments		$ 1,168
[1]	In the statement of cash flows, the cash used in the acquisition of Veth Propulsion in the amount of $59,649 is net of the cash, including restricted cash, acquired in the transaction, of $1,080 (see below for fair value of assets acquired and liabilities assumed).

Note B - Acquisition of Veth _4

Note B - Acquisition of Veth Propulsion Holding BV - Consideration Transferred (Details) - Veth Propulsion [Member] $ in Thousands	Jul. 02, 2018USD ($)
Payments to Acquire Businesses, Gross	$ 60,729	[1]
Fair value of contingent consideration (b)	2,927	[2]
Total	$ 63,656
[1]	In the statement of cash flows, the cash used in the acquisition of Veth Propulsion in the amount of $59,649 is net of the cash, including restricted cash, acquired in the transaction, of $1,080 (see below for fair value of assets acquired and liabilities assumed).
[2]	This pertains to the fair value of the earn-out, which was estimated based on a probability-weighted approach.

Note B - Acquisition of Veth _5

Note B - Acquisition of Veth Propulsion Holding BV - Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		Sep. 28, 2018	Jul. 02, 2018	Jun. 30, 2018
Goodwill, Ending Balance		$ 27,265		$ 2,692
Veth Propulsion [Member]
Cash, including restricted cash	[1]		$ 1,080
Accounts receivable	[2]		10,032
Inventories	[3]		27,641
Property, plant and equipment	[4]		1,537
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	[5]		23,700
Other assets			259
Accounts payable and customer deposits			(17,297)
Other current liabilities			(861)
Deferred tax liability	[6]		(7,104)
Total net assets acquired			38,987
Goodwill, Ending Balance	[7]		24,669
Total consideration			$ 63,656
[1]	Included in cash is restricted cash in the amount of $435. This amount is restricted and not available for general business use in order to guarantee performance obligations by Veth Propulsion under certain customer contracts. A significant majority of these arrangements are set to expire in 45 days after September 28, 2018 and they are not expected to be renewed.
[2]	Accounts receivable represents contractual amounts receivable from customers less an allowance for doubtful accounts. This amount approximates fair value.
[3]	Inventories This consists of: Raw materials $ 13,297 Projects work in progress at fair value 14,344 Inventories at fair value 27,641 Inventories at book value 22,926 Step-up $ 4,715 As of the effective date of the acquisition, inventory is required to be measured at fair value. Raw materials are typically utilized in operations within one year of purchase and therefore book values approximate fair value. Projects work in progress are estimated to be approximately 70% complete, and the step to fair value less estimated costs to complete and sell resulted in a step up value of approximately $4,715.
[4]	The determination of property, plant and equipment is currently in progress. This preliminary amount assumes book value approximates fair value.
[5]	Intangible assets This consists of: Estimated fair value Estimated average useful lives Annual amortization Customer relationships $ 13,600 12 $ 1,133 Technology and know-how 8,300 7 1,186 Tradename 1,800 10 180 Total $ 23,700 $ 2,499 The preliminary fair values were determined primarily using an income method, which utilizes financial forecasts of expected future cash flows. Some of the more significant assumptions used in the development of intangible asset values include: the amount and timing of projected future cash flows, the discount rate selected to measure the risks inherent in future cash flows, and the assessment of the asset's life cycle and competitive trends impacting the asset, as well as other factors.
[6]	This represents the net deferred tax liability associated with the fair value of assets acquired and liabilities assumed.
[7]	The Company is not able to deduct any of the goodwill for tax purposes.

Note B - Acquisition of Veth _6

Note B - Acquisition of Veth Propulsion Holding BV - Inventories (Details) - Veth Propulsion [Member] $ in Thousands	Jul. 02, 2018USD ($)
Raw materials	$ 13,297
Projects work in progress at fair value	14,344
Inventories at fair value	27,641	[1]
Inventories at book value	22,926
Step-up	$ 4,715
[1]	Inventories This consists of: Raw materials $ 13,297 Projects work in progress at fair value 14,344 Inventories at fair value 27,641 Inventories at book value 22,926 Step-up $ 4,715 As of the effective date of the acquisition, inventory is required to be measured at fair value. Raw materials are typically utilized in operations within one year of purchase and therefore book values approximate fair value. Projects work in progress are estimated to be approximately 70% complete, and the step to fair value less estimated costs to complete and sell resulted in a step up value of approximately $4,715.

Note B - Acquisition of Veth _7

Note B - Acquisition of Veth Propulsion Holding BV - Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 02, 2018	Sep. 28, 2018
Intangible assets, estimated fair value		$ 23,700
Intangible assets, estimated average useful lives (Year)		10 years
Customer Relationships [Member]
Intangible assets, estimated fair value		$ 13,600
Technology-Based Intangible Assets [Member]
Intangible assets, estimated fair value		8,300
Trade Names [Member]
Intangible assets, estimated fair value		$ 1,800
Veth Propulsion [Member]
Intangible assets, estimated fair value	$ 23,700
Intangible assets, estimated average useful lives (Year)
Intangible assets, annual amortization	$ 2,499
Veth Propulsion [Member] | Customer Relationships [Member]
Intangible assets, estimated fair value	$ 13,600
Intangible assets, estimated average useful lives (Year)	12 years
Intangible assets, annual amortization	$ 1,133
Veth Propulsion [Member] | Technology-Based Intangible Assets [Member]
Intangible assets, estimated fair value	$ 8,300
Intangible assets, estimated average useful lives (Year)	7 years
Intangible assets, annual amortization	$ 1,186
Veth Propulsion [Member] | Trade Names [Member]
Intangible assets, estimated fair value	$ 1,800
Intangible assets, estimated average useful lives (Year)	10 years
Intangible assets, annual amortization	$ 180

Note B - Acquisition of Veth _8

Note B - Acquisition of Veth Propulsion Holding BV - Financial Information from Veth Propulsion Included in the Consolidated Statements of Operations (Details) - Veth Propulsion [Member] $ in Thousands	3 Months Ended
	Sep. 28, 2018USD ($)
Net sales	$ 13,353
Gross profit (a)	2,186	[1]
Operating loss	(720)	[2]
Net loss attributable to Twin Disc	$ (950)
[1]	Gross profit includes the non-recurring charge for the step-up of inventories acquired of $1,171 for the quarter.
[2]	In addition to (a), operating loss includes the amortization of intangible assets acquired of $621 for the quarter, and non-recurring charges related to the acquisition of $204.

Note B - Acquisition of Veth _9

Note B - Acquisition of Veth Propulsion Holding BV - Unaudited Supplemental Pro Forma Information (Details) - Veth Propulsion [Member] $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 29, 2017USD ($)$ / sharesshares
Net sales	$ 59,709
Gross profit (a)	17,189	[1]
Net income attributable to Twin Disc (b)	$ 2,715	[2]
Basic income per share attributable to Twin Disc (in dollars per share) | $ / shares	$ 0.24
Diluted income per share attributable to Twin Disc (in dollars per share) | $ / shares	$ 0.24
Basic (in shares) | shares	11,256
Diluted (in shares) | shares	11,259
[1]	Gross profit includes the amortization of the step-up of inventories of $1,171 for the quarter.
[2]	In addition to (a), this includes the amortization of intangible assets acquired and interest expense on borrowings under the Credit Agreement net of other expenses, amounting to $1,136, before tax.

Note C - Revenue Recognition -

Note C - Revenue Recognition - Net Sales by Product Group (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Net Sales	$ 74,689	$ 45,064
Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	68,912	39,872
Operating Segments [Member] | Distribution Segment [Member]
Net Sales	22,920	17,662
Intersegment Eliminations [Member]
Net Sales	(17,143)
Intersegment Eliminations [Member] | Manufacturing Segment [Member]
Net Sales	(14,749)	(10,332)
Intersegment Eliminations [Member] | Distribution Segment [Member]
Net Sales	(2,394)	$ (2,138)
Industrial [Member]
Net Sales	7,045
Industrial [Member] | Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	6,481
Industrial [Member] | Operating Segments [Member] | Distribution Segment [Member]
Net Sales	1,396
Industrial [Member] | Intersegment Eliminations [Member]
Net Sales	(832)
Land Based Transmissions [Member]
Net Sales	29,636
Land Based Transmissions [Member] | Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	29,432
Land Based Transmissions [Member] | Operating Segments [Member] | Distribution Segment [Member]
Net Sales	5,611
Land Based Transmissions [Member] | Intersegment Eliminations [Member]
Net Sales	(5,407)
Marine and Propulsion Systems [Member]
Net Sales	36,275
Marine and Propulsion Systems [Member] | Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	32,976
Marine and Propulsion Systems [Member] | Operating Segments [Member] | Distribution Segment [Member]
Net Sales	14,156
Marine and Propulsion Systems [Member] | Intersegment Eliminations [Member]
Net Sales	(10,857)
Other [Member]
Net Sales	1,733
Other [Member] | Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	23
Other [Member] | Operating Segments [Member] | Distribution Segment [Member]
Net Sales	1,757
Other [Member] | Intersegment Eliminations [Member]
Net Sales	$ (47)

Note D - Inventories - Inventor

Note D - Inventories - Inventories (Details) - USD ($) $ in Thousands	Sep. 28, 2018	Jun. 30, 2018
Finished parts	$ 53,313	$ 49,332
Work in process	27,716	13,183
Raw materials	42,410	21,486
Total inventories	$ 123,439	$ 84,001

Note E - Warranty (Details Text

Note E - Warranty (Details Textual) - USD ($) $ in Thousands	Sep. 28, 2018	Sep. 29, 2017
Product Warranty Accrual, Current	$ 4,139	$ 1,968
Product Warranty Accrual, Noncurrent	$ 528	$ 358

Note E - Warranty - Warranty (D

Note E - Warranty - Warranty (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Reserve balance	$ 4,407	$ 2,062
Current period expense and adjustments	729	658
Payments or credits to customers	(1,020)	(433)
Acquisition, Warranty	557
Translation	(6)	39
Reserve balance	$ 4,667	$ 2,326

Note G - Business Segments (Det

Note G - Business Segments (Details Textual)	3 Months Ended
	Sep. 28, 2018
Number of Reportable Segments	2

Note G - Business Segments - Re

Note G - Business Segments - Revenues by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Net sales	$ 74,689	$ 45,064
Net income (loss)	2,862	3,392
Intersegment Eliminations [Member]
Net sales	(17,143)
Corporate, Non-Segment [Member]
Net income (loss)	(5,238)	(2,344)
Manufacturing Segment [Member] | Operating Segments [Member]
Net sales	68,912	39,872
Net income (loss)	7,235	5,067
Manufacturing Segment [Member] | Intersegment Eliminations [Member]
Net sales	(14,749)	(10,332)
Distribution Segment [Member] | Operating Segments [Member]
Net sales	22,920	17,662
Net income (loss)	865	669
Distribution Segment [Member] | Intersegment Eliminations [Member]
Net sales	$ (2,394)	$ (2,138)

Note G - Business Segments - As

Note G - Business Segments - Assets by Segment (Details) - USD ($) $ in Thousands	Sep. 28, 2018	Jun. 30, 2018
Segment Assets	$ 340,757	$ 241,240
Operating Segments [Member] | Manufacturing Segment [Member]
Segment Assets	367,376	266,417
Operating Segments [Member] | Distribution Segment [Member]
Segment Assets	54,544	52,230
Corporate, Non-Segment [Member]
Segment Assets	$ (81,163)	$ (77,407)

Note H - Stock-based Compensa_2

Note H - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Performance Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	37,000	54,900
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	55,400	69,200
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	182,700	224,900
Allocated Share-based Compensation Expense, Total	$ 546,000	$ 15,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance	$ 15.02
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 1,683,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0	$ 0
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	4,000	65,800
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	170,400	309,500
Allocated Share-based Compensation Expense, Total	$ 250,000	$ 463,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	927,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 1,785,000	$ 444,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	2,800	0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	38,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	38,000
Allocated Share-based Compensation Expense, Total	$ 54,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance	$ 25.77
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 924,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years

Note I - Pension and Other Po_3

Note I - Pension and Other Postretirement Benefit Plans (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax	$ 471	$ 474
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	146	$ 278
Pension Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	2,382
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 1,054

Note I - Pension and Other Po_4

Note I - Pension and Other Postretirement Benefit Plans - Net Funded Status of Pension and Postretirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Pension Plan [Member]
Service cost	$ 246	$ 262
Interest cost	1,092	1,074
Expected return on plan assets	1,331	1,525
Amortization of transition obligation	(9)	(9)
Amortization of prior service cost	1	1
Amortization of actuarial net loss	(678)	(759)
Net periodic benefit cost	695	580
Service cost	246	262
Interest cost	1,092	1,074
Amortization of actuarial net loss	678	759
Other Postretirement Benefits Plan [Member]
Service cost	5	5
Interest cost	76	92
Amortization of actuarial net loss	69	(3)
Net periodic benefit cost	12	100
Service cost	5	5
Interest cost	76	92
Amortization of actuarial net loss	$ (69)	$ 3

Note J - Income Taxes (Details

Note J - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Sep. 28, 2018	Sep. 29, 2017	Sep. 28, 2017	Jun. 30, 2018
Effective Income Tax Rate Reconciliation, Percent, Total	23.40%	371.70%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%			35.00%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	(13.00%)
Transitional Income Tax , Amount	$ 0
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 990
Mix of Jurisdictions [Member]
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Percent, Total	(29.90%)
Foreign Tax Authority [Member]
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount			$ 3,803
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent			303.50%
Foreign Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year	2,011
Foreign Tax Authority [Member] | Latest Tax Year [Member]
Open Tax Year	2,018
State and Local Jurisdiction [Member] | Earliest Tax Year [Member]
Open Tax Year	2,015
State and Local Jurisdiction [Member] | Earliest Tax Year [Member] | Wisconsin Department of Revenue [Member]
Open Tax Year	2,010
State and Local Jurisdiction [Member] | Latest Tax Year [Member] | Wisconsin Department of Revenue [Member]
Open Tax Year	2,013

Note K - Goodwill and Other I_3

Note K - Goodwill and Other Intangibles (Details Textual) - USD ($) $ in Thousands		Jul. 02, 2018	Sep. 28, 2018	Sep. 29, 2017	Jun. 30, 2018
Goodwill, Ending Balance			$ 27,265		$ 2,692
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			10 years
Amortization of Intangible Assets, Total			$ 665	$ 44
Indefinite-lived Intangible Assets (Excluding Goodwill), Ending Balance			206		202
European Industrial [Member]
Goodwill, Ending Balance			2,683		$ 2,692
Goodwill, Impairment Loss			0
Veth Propulsion [Member]
Goodwill, Ending Balance	[1]	$ 24,669
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	[2]	$ 23,700
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life
Amortization of Intangible Assets, Total			$ 621
[1]	The Company is not able to deduct any of the goodwill for tax purposes.
[2]	Intangible assets This consists of: Estimated fair value Estimated average useful lives Annual amortization Customer relationships $ 13,600 12 $ 1,133 Technology and know-how 8,300 7 1,186 Tradename 1,800 10 180 Total $ 23,700 $ 2,499 The preliminary fair values were determined primarily using an income method, which utilizes financial forecasts of expected future cash flows. Some of the more significant assumptions used in the development of intangible asset values include: the amount and timing of projected future cash flows, the discount rate selected to measure the risks inherent in future cash flows, and the assessment of the asset's life cycle and competitive trends impacting the asset, as well as other factors.

Note K - Goodwill and Other I_4

Note K - Goodwill and Other Intangibles - Goodwill Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Jun. 30, 2018
Balance, goodwill gross carrying amount	$ 16,514
Acquisition, goodwill gross carrying amount	24,669
Translation adjustment, goodwill gross carrying amount	(96)
Balance, goodwill gross carrying amount	41,087
Balance, goodwill accumulated impairment	(13,822)	$ (13,822)
Balance, goodwill net book value	2,692
Balance, goodwill net book value	27,265
European Industrial [Member]
Acquisition, goodwill gross carrying amount
Translation adjustment, goodwill gross carrying amount	(9)
Balance, goodwill net book value	2,692
Balance, goodwill net book value	2,683
European Propulsion [Member]
Acquisition, goodwill gross carrying amount	24,669
Translation adjustment, goodwill gross carrying amount	(87)
Balance, goodwill net book value
Balance, goodwill net book value	$ 24,582

Note K - Goodwill and Other I_5

Note K - Goodwill and Other Intangibles - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Balance, Definite Intangible Assets Gross Carrying Amount	$ 13,485
Acquisition, Definite Intangible Assets Gross Carrying Amount	23,700
Other additions, Definite Intangible Assets Gross Carrying Amount	4
Translation adjustment, Definite Intangible Assets Gross Carrying Amount	(163)
Balance, Gross Carrying Amount	37,026
Balance, Definite Intangible Assets Accumulated Amortization/Impairment	(11,781)
Amortization, Definite Intangible Assets Accumulated Amortization/Impairment	(665)	$ (44)
Translation adjustment, Definite Intangible Assets Accumulated Amortization/Impairment
Balance, Definite Intangible Assets Accumulated Amortization/Impairment	(12,446)
Balance, Definite Intangible Assets Net Book Value	1,704
Intangible assets, estimated fair value	23,700
Other additions, Definite Intangible Assets Net Book Value	4
Translation adjustment, Definite Intangible Assets Net Book Value	(163)
Balance, Definite Intangible Assets Net Book Value	24,580
Trade Names [Member]
Amortization, Definite Intangible Assets Accumulated Amortization/Impairment	(66)
Balance, Definite Intangible Assets Net Book Value	1,288
Intangible assets, estimated fair value	1,800
Other additions, Definite Intangible Assets Net Book Value
Translation adjustment, Definite Intangible Assets Net Book Value	(17)
Balance, Definite Intangible Assets Net Book Value	3,005
Customer Relationships [Member]
Amortization, Definite Intangible Assets Accumulated Amortization/Impairment	(281)
Balance, Definite Intangible Assets Net Book Value
Intangible assets, estimated fair value	13,600
Other additions, Definite Intangible Assets Net Book Value
Translation adjustment, Definite Intangible Assets Net Book Value	(91)
Balance, Definite Intangible Assets Net Book Value	13,228
Technology-Based Intangible Assets [Member]
Amortization, Definite Intangible Assets Accumulated Amortization/Impairment	(295)
Balance, Definite Intangible Assets Net Book Value
Intangible assets, estimated fair value	8,300
Other additions, Definite Intangible Assets Net Book Value
Translation adjustment, Definite Intangible Assets Net Book Value	(55)
Balance, Definite Intangible Assets Net Book Value	7,950
Other Intangible Assets [Member]
Amortization, Definite Intangible Assets Accumulated Amortization/Impairment	(23)
Balance, Definite Intangible Assets Net Book Value	416
Intangible assets, estimated fair value
Other additions, Definite Intangible Assets Net Book Value	4
Translation adjustment, Definite Intangible Assets Net Book Value
Balance, Definite Intangible Assets Net Book Value	$ 397

Note K - Goodwill and Other I_6

Note K - Goodwill and Other Intangibles - Estimated Intangibles Amortization Expense (Details) $ in Thousands	Sep. 28, 2018USD ($)
2,019	$ 1,996
2,020	2,662
2,021	2,647
2,022	2,631
2,023	2,628
2,024	$ 2,598

Note L - Long-term Debt (Detail

Note L - Long-term Debt (Details Textual) - USD ($) $ in Thousands	Sep. 25, 2018	Jul. 02, 2018	Sep. 28, 2018	Sep. 29, 2017	Jun. 29, 2018
Proceeds from Issuance of Long-term Debt, Total			$ 35,000
Proceeds from Issuance of Common Stock	$ 32,310		$ 32,210
The 2018 Credit Agreement [Member]
Proceeds from Issuance of Long-term Debt, Total		$ 60,729
The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member]
Proceeds from Issuance of Long-term Debt, Total		25,729
The 2018 Credit Agreement [Member] | Term Loan [Member]
Proceeds from Issuance of Long-term Debt, Total		$ 35,000
Debt Instrument, Interest Rate During Period			5.10%
BMO [Member] | The 2018 Credit Agreement [Member]
Debt Instrument, Percentage of Equity Interest in Certain Domestic Subsidiaries					100.00%
Debt Instrument, Percentage of Equity Interest in Certain Foreign Subsidiaries					65.00%
BMO [Member] | The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity					$ 50,000
Debt Instrument, Interest Rate During Period			4.35%
Line of Credit Facility, Current Borrowing Capacity			$ 50,000
Line of Credit Facility, Remaining Borrowing Capacity			$ 23,419
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member]
Debt Agreement, Maximum Borrowing Capacity					$ 35,000
Bank of Montreal [Member] | The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument, Interest Rate During Period			2.25%

Note L - Long-term Debt - Long-

Note L - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 28, 2018	Jun. 30, 2018
Long-term debt	$ 37,446	$ 4,824
Revolving Loan [Member]
Long-term debt	26,581	4,787
Term Loan [Member]
Long-term debt	10,830
Other Long-Term Debt [Member]
Long-term debt	$ 35	$ 37

Note M - Shareholders' Equity_2

Note M - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Sep. 25, 2018	Sep. 28, 2018	Sep. 29, 2017
Stock Issued During Period, Shares, New Issues	1,533,300
Share Price	$ 22.50
Payments of Stock Underwriting Costs		$ 2,070
Payments of Stock Offering Expenses		220
Proceeds from Issuance of Common Stock	$ 32,310	$ 32,210
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased		315,000
Treasury Stock, Shares, Acquired		0	0

Note M - Shareholders' Equity -

Note M - Shareholders' Equity - Shareholders' Equity Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Balance	$ 143,616	$ 123,567
Net income	2,903	3,405
Foreign currency translation adjustment	(561)	2,541
Benefit plan adjustments, net of tax	471	474
Release stranded tax effects
Cash dividends	(115)	(172)
Compensation expense and tax shortfall	850	479
Common stock issued, net	32,210
Shares acquired, net	(914)	(213)
Balance	178,460	130,081
Common Stock [Member]
Balance	11,570	10,429
Net income
Foreign currency translation adjustment
Benefit plan adjustments, net of tax
Release stranded tax effects
Cash dividends
Compensation expense and tax shortfall	850	479
Common stock issued, net	32,210
Shares acquired, net	(586)	(1,030)
Balance	44,044	9,878
Retained Earnings [Member]
Balance	178,896	169,368
Net income	2,862	3,392
Foreign currency translation adjustment
Benefit plan adjustments, net of tax
Release stranded tax effects	(6,903)
Cash dividends
Compensation expense and tax shortfall
Common stock issued, net
Shares acquired, net
Balance	188,661	172,760
AOCI Attributable to Parent [Member]
Balance	(23,792)	(32,671)
Net income
Foreign currency translation adjustment	(536)	2,547
Benefit plan adjustments, net of tax	471	474
Release stranded tax effects	6,903
Cash dividends
Compensation expense and tax shortfall
Common stock issued, net
Shares acquired, net
Balance	(30,760)	(29,650)
Treasury Stock [Member]
Balance	(23,677)	(24,205)
Net income
Foreign currency translation adjustment
Benefit plan adjustments, net of tax
Release stranded tax effects
Cash dividends
Compensation expense and tax shortfall
Common stock issued, net
Shares acquired, net	(328)	817
Balance	(24,005)	(23,388)
Noncontrolling Interest [Member]
Balance	619	646
Net income	41	13
Foreign currency translation adjustment	(25)	(6)
Benefit plan adjustments, net of tax
Release stranded tax effects
Cash dividends	(115)	(172)
Compensation expense and tax shortfall
Common stock issued, net
Shares acquired, net
Balance	$ 520	$ 481

Note M - Shareholders' Equity_3

Note M - Shareholders' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Balance	$ 143,616	$ 123,567
Release stranded tax effects
Balance	178,460	130,081
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	7,085	6,130
Translation adjustment during the quarter	(536)	2,547
Release stranded tax effects
Amounts reclassified from accumulated other comprehensive income
Net current period other comprehensive income	(536)	2,547
Translation adjustment during the quarter	536	(2,547)
Balance	6,549	8,677
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance	(30,877)	(38,801)
Translation adjustment during the quarter
Release stranded tax effects	(6,903)
Amounts reclassified from accumulated other comprehensive income	471	474
Net current period other comprehensive income	(6,432)	474
Translation adjustment during the quarter
Balance	$ (37,309)	$ (38,327)

Note M - Shareholders' Equity_4

Note M - Shareholders' Equity - Reconciliation for the Reclassifications Out of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands		3 Months Ended
		Sep. 28, 2018	Sep. 29, 2017
Income tax expense (benefit)		$ 887	$ (4,658)
Net income		2,903	3,405
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Actuarial losses	[1]	607	742
Transition asset and prior service benefit	[1]	10	10
Total amortization		617	752
Income tax expense (benefit)		146	278
Net income		$ 471	$ 474
[1]	These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note I "Pension and Other Postretirement Benefit Plans" for further details).

Note N - Restructuring of Ope_3

Note N - Restructuring of Operations (Details Textual) $ in Thousands	3 Months Ended		39 Months Ended
	Sep. 28, 2018USD ($)	Sep. 29, 2017USD ($)	Sep. 28, 2018USD ($)
Restructuring Charges, Total	$ 173	$ 1,218	$ 9,446
Restructuring and Related Cost, Number of Positions Eliminated			172

Note N - Restructuring of Ope_4

Note N - Restructuring of Operations - Roll-forward of Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended		39 Months Ended
	Sep. 28, 2018	Sep. 29, 2017	Sep. 28, 2018
Accrued restructuring liability	$ 90
Additions during the year	173	$ 1,218	$ 9,446
Payments and adjustments during the year	(177)
Accrued restructuring liability	$ 86		$ 86

Note O - Earnings Per Share (De

Note O - Earnings Per Share (Details Textual) - shares	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	180,600	224,900
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	170,400	309,500
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	28,200
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,300	9,900

Note O - Earnings Per Share - C

Note O - Earnings Per Share - Components of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Basic:
Net income	$ 2,903	$ 3,405
Less: Net earnings attributable to noncontrolling interest	(41)	(13)
Less: Undistributed earnings attributable to unvested shares	(49)	(85)
Net income available to Twin Disc shareholders	$ 2,813	$ 3,307
Weighted average shares outstanding - basic (in shares)	11,722	11,256
Basic Income Per Share:
Net income per share - basic (in dollars per share)	$ 0.24	$ 0.29
Diluted:
Net income	$ 2,903	$ 3,405
Less: Net earnings attributable to noncontrolling interest	(41)	(13)
Less: Undistributed earnings attributable to unvested shares	(49)	(85)
Net income available to Twin Disc shareholders	$ 2,813	$ 3,307
Weighted average shares outstanding - basic (in shares)	11,722	11,256
Effect of dilutive stock awards (in shares)	77	3
Weighted average shares outstanding - diluted (in shares)	11,799	11,259
Diluted Income Per Share:
Net income per share - diluted (in dollars per share)	$ 0.24	$ 0.29

Note P - Lease Liabilities (Det

Note P - Lease Liabilities (Details Textual) - USD ($) $ in Thousands	Sep. 28, 2018	Jun. 30, 2018
Operating Lease, Right-of-Use Asset	$ 17,071	$ 6,527
Operating Lease, Liability, Total	$ 17,070	$ 6,527

Note P - Lease Liabilities - Co

Note P - Lease Liabilities - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Amortization of right-of-use assets	$ 1	$ 1
Operating lease cost	880	633
Short-term lease cost	11	33
Variable lease cost	8	3
Total lease cost	900	670
Less: Sublease income	(16)	(53)
Net lease cost	$ 884	$ 617

Note P - Lease Liabilities - Ot

Note P - Lease Liabilities - Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2018	Sep. 29, 2017
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases	$ 871	$ 579
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases	1	1
Right-of-use-assets obtained in exchange for lease obligations: Operating leases	$ 12,127	$ 280
Weighted average remaining lease term (years): Operating leases (Year)	11 years 146 days	5 years 255 days
Weighted average remaining lease term (years): Finance lease (Year)	3 years 292 days	4 years 292 days
Weighted average discount rate: Operating leases	7.60%	6.50%
Weighted average discount rate: Finance leases	4.00%	4.00%

Note P - Lease Liabilities - Fu

Note P - Lease Liabilities - Future Minimum Rental Commitments Under Noncancellable Leases (Details) - USD ($) $ in Thousands	Sep. 28, 2018	Jun. 30, 2018
2,019	$ 2,684
2,019	2
2,020	3,115
2,020	3
2,021	2,467
2,021	3
2,022	1,969
2,022	3
2,023	1,790
2,023
Thereafter	13,212
Thereafter
Total future lease payments	25,237
Total future lease payments	11
Less: Amount representing interest	(8,167)
Less: Amount representing interest	1
Operating Lease, Liability, Total	17,070	$ 6,527
Present value of future payments	$ 10