Twin Disc (TWIN) 10-Q 7 May 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 29, 2019	Apr. 30, 2019
Document Information [Line Items]
Entity Registrant Name	TWIN DISC INC
Entity Central Index Key	0000100378
Trading Symbol	twin
Current Fiscal Year End Date	--06-30
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)		13,098,512
Document Type	10-Q
Document Period End Date	Mar. 29, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 29, 2019	Jun. 30, 2018
Current assets:
Cash	$ 15,757	$ 15,171
Trade accounts receivable, net	48,207	45,422
Inventories	128,168	84,001
Prepaid expenses	7,591	8,423
Other	8,591	6,252
Total current assets	208,314	159,269
Property, plant and equipment, net	67,422	55,467
Goodwill, net	26,672	2,692
Intangible assets, net	23,114	1,906
Deferred income taxes	15,313	18,056
Other assets	3,989	3,850
Total assets	344,824	241,240
Current liabilities:
Current maturities of long-term debt	2,000
Accounts payable	27,825	29,368
Accrued liabilities	39,512	32,976
Total current liabilities	69,337	62,344
Long-term debt	47,280	4,824
Lease obligations	13,325	6,527
Accrued retirement benefits	19,172	21,068
Deferred income taxes	6,971	1,203
Other long-term liabilities	2,097	1,658
Total liabilities	158,182	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 13,098,468, respectively; no par value	44,755	11,570
Retained earnings	197,293	178,896
Accumulated other comprehensive loss	(32,462)	(23,792)
Equity before treasury stock	209,586	166,674
Less treasury stock, at cost (1,534,290 and 1,545,783 shares, respectively)	23,500	23,677
Total Twin Disc shareholders' equity	186,086	142,997
Noncontrolling interest	556	619
Total equity	186,642	143,616
Total liabilities and equity	$ 344,824	$ 241,240

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands	Mar. 29, 2019	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	13,098,468
Common Shares, No Par Value (in dollars per share)	$ 0	$ 0
Treasury Stock, Shares (in shares)	1,534,290	1,545,783

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Net Sales	$ 77,420	$ 65,349	$ 230,216	$ 166,960
Cost of goods sold	54,303	44,527	157,026	113,922
Gross profit	23,117	20,822	73,190	53,038
Marketing, engineering and administrative expenses	17,375	14,549	55,269	43,013
Restructuring expenses	131	452	738	2,501
Other operating income	(1,357)		(1,357)
Income from operations	6,968	5,821	18,540	7,524
Interest expense	449	80	1,583	227
Other expense (income), net	490	272	1,608	1,206
Non-operating income (expense)	939	352	3,191	1,433
Income before income taxes and noncontrolling interest	6,029	5,469	15,349	6,091
Income tax expense	1,442	1,133	3,780	2,401
Net income	4,587	4,336	11,569	3,690
Less: Net earnings attributable to noncontrolling interest, net of tax	(27)	(28)	(75)	(104)
Net income attributable to Twin Disc	$ 4,560	$ 4,308	$ 11,494	$ 3,586
Income per share data:
Basic income per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.35	$ 0.37	$ 0.91	$ 0.31
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.34	$ 0.37	$ 0.90	$ 0.31
Weighted average shares outstanding data:
Basic shares outstanding (in shares)	12,914	11,313	12,437	11,289
Diluted shares outstanding (in shares)	13,146	11,344	12,652	11,320
Comprehensive income
Net income	$ 4,587	$ 4,336	$ 11,569	$ 3,690
Benefit plan adjustments, net of income taxes of $146, $212, $437 and $1,164, respectively	478	474	1,427	2,682
Foreign currency translation adjustment	(869)	1,849	(3,217)	4,878
Comprehensive income	4,196	6,659	9,779	11,250
Less: Comprehensive income attributable to noncontrolling interest	(44)	(26)	(52)	(95)
Comprehensive income attributable to Twin Disc	$ 4,152	$ 6,633	$ 9,727	$ 11,155

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Benefit plan adjustments, tax	$ 146	$ 212	$ 437	$ 1,164

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018
Cash flows from operating activities:
Net income	$ 11,569	$ 3,690
Adjustments to reconcile net income to net cash (used) provided by operating activities, net of acquired assets:
Depreciation and amortization	6,974	4,908
Amortization of inventory fair value step-up	3,223
Restructuring expenses	28	162
Gain on sale of Mill Log	(865)
Gain on contingent consideration of Veth Propulsion acquisition	(492)
Provision for deferred income taxes	1,158	3,455
Stock compensation expense and other non-cash changes, net	2,123	1,330
Net change in operating assets and liabilities	(35,876)	(12,544)
Net cash (used) provided by operating activities	(12,158)	1,001
Cash flows from investing activities:
Proceeds from sale of Mill Log, net of costs to sell	5,158
Acquisition of Veth Propulsion, less cash acquired	(60,195)
Acquisitions of fixed assets	(8,911)	(4,354)
Proceeds from sale of fixed assets	145	141
Other, net	(229)	(129)
Net cash used by investing activities	(64,032)	(4,342)
Cash flows from financing activities:
Proceeds from issuance of common stock, net	32,210
Proceeds from exercise of stock options	36
Borrowings under long-term debt arrangement	44,151
Repayments of long-term borrowings	(23,872)
Borrowings under revolving loan arrangement	123,904	54,415
Repayments of revolver loans	(99,156)	(53,138)
Dividends paid to noncontrolling interest	(115)	(172)
Payments of withholding taxes on stock compensation	(926)	(422)
Net cash provided by financing activities	76,232	683
Effect of exchange rate changes on cash	544	1,406
Net change in cash	586	(1,252)
Cash:
Beginning of period	15,171	16,367
End of period	$ 15,757	$ 15,115

Note A - Basis of Presentation

Note A - Basis of Presentation	9 Months Ended
	Mar. 29, 2019
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 adjustments, consisting primarily 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 March 29, 2019. 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 entities in its marine and propulsion 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 three March 30, 2018, three March 30, 2018. c. In March 2017, 2017 07 July 1, 2018 The following table presents the effect of the adoption of ASU 2017 07 three March 30, 2018: For the Quarter Ended For the Three Quarters Ended March 30, 2018 Adoption March 30, 2018 March 30, 2018 Adoption March 30, 2018 As Reported Impact Restated As Reported Impact Restated Cost of goods sold $ 44,624 $ (97 ) $ 44,527 $ 114,214 $ (292 ) $ 113,922 Gross profit 20,725 97 20,822 52,746 292 53,038 Marketing, engineering and administrative expenses 14,747 (198 ) 14,549 43,683 (670 ) 43,013 Income from operations 5,526 295 5,821 6,562 962 7,524 Other expense (income), net (23 ) 295 272 244 962 1,206 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 g. In August 2018, No. 33 10532, X 3 04 3 04 second 2019. not New Accounting Releases In August 2017, 2017 12, 815 December 15, 2018 ( 2020 fourth 2019. In August 2018, 2018 13 820, December 15, 2019 ( 2021 In August 2018, 2018 14 December 15, 2020 ( 2021 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 2019. may not may

Note B - Acquisition of Veth Pr

Note B - Acquisition of Veth Propulsion Holding BV	9 Months Ended
	Mar. 29, 2019
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 $58,862 January 2019, $545 January 1, 2018 December 31, 2018 $3,700 May 2019. The Company financed the payment of the cash consideration through borrowings under a new credit agreement entered into on June 29, 2018 Consideration Transferred The following table summarizes the consideration transferred at the acquisition date, which includes the subsequent settlement of the working capital adjustment as of the acquisition date pursuant to the Purchase Agreement. Cash at closing (a) $ 58,862 Working capital adjustment settlement 545 Fair value of contingent consideration at acquisition date (b) 2,921 Total $ 62,328 (a) In the statement of cash flows, the cash used in the acquisition of Veth Propulsion in the amount of $60,195 $1,078 (b) This pertains to the fair value of the earn-out at acquisition date, which was estimated based on a probability-weighted approach. Under ASC 805, not 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. Some of these amounts reflect updated values from those previously reported as of December 28, 2018, Fair Value of Assets Acquired Cash, including restricted cash $ 1,078 (a) Accounts receivable and other current assets 10,437 (b) Inventories 27,750 (c) Property, plant and equipment 2,661 (d) Intangibles 24,000 (e) Accounts payable and accrued liabilities (21,208 ) Deferred tax liability (7,376 ) (f) Total net assets acquired 37,342 Goodwill 24,986 (g) Total consideration $ 62,328 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 $698. not March 29, 2019 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: Inventories Raw materials $ 13,307 Projects work in progress at fair value 14,443 Inventories at fair value 27,750 Inventories at book value 23,375 Step-up $ 4,375 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% $4,375. (d) The fair value of property, plant and equipment is estimated at $2,661. 2 13 (e) Intangible assets consist of: Estimated fair Estimated average Annual value useful lives amortization Customer relationships $ 13,800 12 $ 1,150 Technology and know-how 8,400 7 1,200 Tradename 1,800 10 180 Total $ 24,000 $ 2,530 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 $1,249, 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 quarter and three March 29, 2019: Quarter Ended Three Quarters Ended March 29, 2019 March 29, 2019 Net sales $ 15,496 $ 42,931 Gross profit (a) 3,024 8,916 Operating income (b) 244 204 Net income (loss) attributable to Twin Disc 6 (569 ) (a) Gross profit includes the non-recurring purchase accounting charge for the step-up of inventories acquired of $1,050 $3,223 three March 29, 2019, (b) In addition to (a), operating income includes the depreciation of property, plant and equipment and amortization of intangible assets acquired of $749 $1,985 three March 29, 2019, one $2 $461 three March 29, 2019, The following table presents unaudited supplemental pro forma information as if the acquisition of Veth Propulsion had occurred on July 1, 2017. Quarter Ended Three Quarters Ended March 30, 2018 March 30, 2018 Net sales $ 78,615 $ 209,517 Gross profit (a) 23,384 61,993 Net income attributable to Twin Disc (b) 2,859 784 Basic income per share attributable to Twin Disc common shareholders $ 0.25 $ 0.07 Diluted income per share attributable to Twin Disc common shareholders $ 0.25 $ 0.07 Weighted average number of common shares outstanding: Basic 11,313 11,289 Diluted 11,344 11,320 (a) Gross profit includes the amortization of the step-up of inventories of $1,179 $3,537 three March 30, 2018, (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 $3,408, three March 30, 2018,

Note C - Revenue Recognition

Note C - Revenue Recognition	9 Months Ended
	Mar. 29, 2019
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 and three March 29, 2019. Net sales by product group for the quarter ended March 29, 2019 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 8,149 $ 2,457 $ (1,070 ) $ 9,536 Land-based transmissions 27,133 8,309 (8,538 ) 26,904 Marine and propulsion systems 36,076 15,573 (11,908 ) 39,741 Other 16 1,208 15 1,239 Total $ 71,374 $ 27,547 $ (21,501 ) $ 77,420 Net sales by product group for the three March 29, 2019 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 22,883 $ 6,434 $ (3,619 ) $ 25,698 Land-based transmissions 86,876 20,765 (21,322 ) 86,319 Marine and propulsion systems 101,464 46,037 (33,629 ) 113,872 Other 50 4,321 (44 ) 4,327 Total $ 211,273 $ 77,557 $ (58,614 ) $ 230,216 Contract assets /liabili t ies : There are no March 29, 2019.

Note D - Inventories

Note D - Inventories	9 Months Ended
	Mar. 29, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	D . Inventor ies The major classes of inventories were as follows: March 29, 2019 June 30, 2018 Inventories: Finished parts $ 53,992 $ 49,332 Work in process 26,050 13,183 Raw materials 48,126 21,486 $ 128,168 $ 84,001

Note E - Warranty

Note E - Warranty	9 Months Ended
	Mar. 29, 2019
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 quarter and three March 29, 2019 March 30, 2018: For the Quarter Ended For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Reserve balance, beginning of period $ 3,843 $ 2,467 $ 4,407 $ 2,062 Current period expense and adjustments 670 1,217 1,527 2,598 Payments or credits to customers (742 ) (559 ) (2,688 ) (1,581 ) Acquisition - - 557 - Translation (21 ) 24 (53 ) 70 Reserve balance, end of period $ 3,750 $ 3,149 $ 3,750 $ 3,149 The current portion of the warranty accrual ( $2,983 $2,705 March 29, 2019 March 30, 2018, $767 $444 March 29, 2019 March 30, 2018,

Note F - Contingencies

Note F - Contingencies	9 Months Ended
	Mar. 29, 2019
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	9 Months Ended
	Mar. 29, 2019
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 For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Net sales Manufacturing segment sales $ 71,374 $ 58,482 $ 211,273 $ 146,935 Distribution segment sales 27,547 22,854 77,557 61,852 Inter/Intra segment elimination – manufacturing (16,272 ) (13,494 ) (45,953 ) (33,315 ) Inter/Intra segment elimination – distribution (5,229 ) (2,493 ) (12,661 ) (8,512 ) $ 77,420 $ 65,349 $ 230,216 $ 166,960 Net income (loss) attributable to Twin Disc Manufacturing segment net income $ 6,350 $ 6,910 $ 21,509 $ 12,100 Distribution segment net (loss) income (498 ) 1,149 935 2,205 Corporate and eliminations (1,292 ) (3,751 ) (10,950 ) (10,719 ) $ 4,560 $ 4,308 $ 11,494 $ 3,586 Assets March 29, 2019 June 30, 2018 Manufacturing segment assets $ 385,078 $ 266,417 Distribution segment assets 49,446 52,230 Corporate assets and elimination of intercompany assets (89,700 ) (77,407 ) $ 344,824 $ 241,240

Note H - Stock-based Compensati

Note H - Stock-based Compensation	9 Months Ended
	Mar. 29, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	H . Stock-Based Compensation Performance Stock Awards (“PSA”) During the first three 2019 2018, 42.3 54.9 2019 three June 30, 2021. 63.4. The fiscal 2018 three June 30, 2020. 69.2. There were 188.0 206.2 March 29, 2019 March 30, 2018, $240 $138 March 29, 2019 March 30, 2018, $1,028 $274 three March 29, 2019 March 30, 2018, March 29, 2019 $15.02. March 29, 2019, $1,281 2019, 2018 2017 March 29, 2019 March 30, 2018 $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 three 2019 2018, 35.6 85.3 184.3 237.7 March 29, 2019 March 30, 2018, 3.8 32.7 three March 29, 2019 March 30, 2018, $280 $186 March 29, 2019 March 30, 2018, $796 $1,113 three March 29, 2019 March 30, 2018, March 29, 2019 March 30, 2018 $2,102 $1,809, March 29, 2019, $912 three Restricted Stock Unit Awards (“RS U ”) Under the 2018 three first three 2019, 38.0 38.0 March 29, 2019. $81 March 29, 2019. $217 three March 29, 2019. March 29, 2019 $25.77. March 29, 2019, $761 three

Note I - Pension and Other Post

Note I - Pension and Other Postretirement Benefit Plans	9 Months Ended
	Mar. 29, 2019
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 For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Pension Benefits: Service cost $ 242 $ 260 $ 739 $ 763 Interest cost 1,095 1,089 3,270 3,225 Expected return on plan assets (1,329 ) (1,524 ) (3,992 ) (4,565 ) Amortization of transition obligation 9 9 26 27 Amortization of prior service cost 1 1 3 3 Amortization of actuarial net loss 678 759 2,033 2,277 Net periodic benefit cost $ 696 $ 594 $ 2,079 $ 1,730 Postretirement Benefits: Service cost $ 5 $ 5 $ 14 $ 15 Interest cost 76 78 228 247 Amortization of actuarial net loss (69 ) (59 ) (206 ) (115 ) Net periodic benefit cost $ 12 $ 24 $ 36 $ 147 The Company expects to contribute approximately $2,382 2019. March 29, 2019, $2,305 The Company has reclassified $478 $146 March 29, 2019, $474 $212 March 30, 2018. $1,427 $437 three March 29, 2019, $2,682 $1,164 three March 30, 2018.

Note J - Income Taxes

Note J - Income Taxes	9 Months Ended
	Mar. 29, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	J . Income Taxes On December 22, 2017, January 1, 2018; June 30, For the three March 29, 2019 March 30, 2018, 24.6% 39.4%, $3,803 62.4%. $4,243, 69.7%. $392 6.4%. 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. 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 2018 not 100% no no not not not may Under ASC 740, December 22, 2017. December 29, 2017. 118 118 three 1 2 not 3 no 740 no one not 118 not one three March 29, 2019, 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 $1,152 March 29, 2019, no three March 29, 2019. 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	9 Months Ended
	Mar. 29, 2019
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, $24,986 $24,000 may As of March 29, 2019, 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 24,986 - 24,986 - 24,986 Translation adjustment (1,006 ) - (1,006 ) (72 ) (934 ) Balance at March 29, 2019 $ 40,494 $ (13,822 ) $ 26,672 $ 2,620 $ 24,052 For the quarter ended March 29, 2019, no not not March 29, 2019. June 30, 2019. As of March 29, 2019, 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 24,000 - 24,000 1,800 13,800 8,400 - Other additions 103 - 103 - - - 103 Amortization - (1,995 ) (1,995 ) (196 ) (846 ) (883 ) (70 ) Translation adjustment (898 ) - (898 ) (98 ) (500 ) (298 ) (2 ) Balance at March 29, 2019 $ 36,690 $ (13,776 ) $ 22,914 $ 2,794 $ 12,454 $ 7,219 $ 447 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 $746 $46 March 29, 2019, March 30, 2018, $1,995 $135 three March 29, 2019, March 30, 2018, 2019 five Fiscal Year 2019 $ 689 2020 2,659 2021 2,609 2022 2,586 2023 2,579 2024 2,549 The gross carrying amount of the Company’s intangible assets that have indefinite lives and are not March 29, 2019 June 30, 2018 $200 $202,

Note L - Long-term Debt

Note L - Long-term Debt	9 Months Ended
	Mar. 29, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	L. Long-term Debt Long-term debt at March 29, 2019 June 30, 2018 March 29, 2019 June 30, 2018 Borrowings under the Credit Agreement Revolving loans $ 28,893 $ 4,787 Term loan (due March 2026) 20,000 - Other 387 37 Subtotal 49,280 4,824 Less: current maturities (2,000 ) - Total long-term debt $ 47,280 $ 4,824 On June 29, 2018, “2016 not $35,000 may, not $50,000 On July 2, 2018, $60,729 $35,000 $25,729. $58,862, $1,865. On September 25, 2018, $32,210 On March 4, 2019, second $35,000 $20,000. $20,000 $35,000 Prior to entering into the Second Amendment, the outstanding principal amount of the Term Loan under the Credit Agreement was $10,849. $9,151. January 2, 2020 March 4, 2026 , $500 quarter June 30, 2019. The Second Amendment also reduces the applicable margin for purposes of determining the interest rate applicable to the Term Loan. Previously, the applicable margin was 3.00%, 1.375% 2.375%, The Second Amendment also adjusts certain financial covenants made by the Company under the Credit Agreement. Specifically, the Company has covenanted (i) not 3.00 1.00 3.50 1.00 September 30, 2019 3.25 1.00 December 31, 2019 September 30, 2020), not $100,000 50% June 30, 2019 $100,000 $70,000 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. The Company has also pledged 100% 65% Other long-term debt pertains mainly to a financing arrangement in Europe. During the third 2019, $370 3 5 842, 7% 25%. $12 During the quarter ended March 29, 2019, 4.72% 2.98% three March 29, 2019, 5.04% 3.18% As of March 29, 2019, $50,000, $21,107 The Company’s borrowings described above approximates fair value at March 29, 2019 June 30, 2018. 2 On April 22, 2019, $20,000 March 4, 2026 815, June 30, 2019 10

Note M - Shareholders' Equity

Note M - Shareholders' Equity	9 Months Ended
	Mar. 29, 2019
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 March 29, 2019. 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 March 29, 2019 not March 29, 2019 March 30, 2018. The following is a reconciliation of the Company’s equity balances for the first three 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 2,861 41 2,902 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 44,044 188,660 (30,760 ) (24,005 ) 520 178,459 Net income 4,073 6 4,079 Translation adjustments (1,773 ) (13 ) (1,786 ) Benefit plan adjustments, net of tax 478 478 Compensation expense 590 590 Shares (acquired) issued, net (497 ) 520 23 Balance, December 28, 2018 44,137 192,733 (32,055 ) (23,485 ) 513 181,843 Net income 4,560 27 4,587 Translation adjustments (885 ) 16 (869 ) Benefit plan adjustments, net of tax 478 478 Compensation expense 603 603 Shares issued (acquired), net 15 (15 ) - Balance, March 29, 2019 $ 44,755 $ 197,293 $ (32,462 ) $ (23,500 ) $ 556 $ 186,642 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 3,391 13 3,404 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 9,878 172,759 (29,650 ) (23,388 ) 481 130,080 Net (loss) income (4,113 ) 63 (4,050 ) Translation adjustments 489 (1 ) 488 Benefit plan adjustments, net of tax 1,734 1,734 Compensation expense 584 584 Shares (acquired) issued, net (376 ) 189 (187 ) Balance, December 29, 2017 10,086 168,646 (27,427 ) (23,199 ) 543 128,649 Net income 4,308 28 4,336 Translation adjustments 1,851 (2 ) 1,849 Benefit plan adjustments, net of tax 474 474 Compensation expense 324 324 Shares issued (acquired), net 492 (514 ) (22 ) Balance, March 30, 2018 $ 10,902 $ 172,954 $ (25,102 ) $ (23,713 ) $ 569 $ 135,610 Reconciliations for the changes in accumulated other comprehensive income (loss), net of tax, by component for the quarters ended September 28, December 28, 2018, March 29, 2019 September 29, December 29, 2017, March 30, 2018 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 loss (536 ) (6,432 ) Balance at September 28, 2018 6,549 (37,309 ) Translation adjustment during the quarter (1,773 ) - Amounts reclassified from accumulated other comprehensive income - 478 Net current period other comprehensive (loss) income (1,773 ) 478 Balance at December 28, 2018 4,776 (36,831 ) Translation adjustment during the quarter (885 ) - Amounts reclassified from accumulated other comprehensive income - 478 Net current period other comprehensive (loss) income (885 ) 478 Balance at March 29, 2019 $ 3,891 $ (36,353 ) 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 ) Translation adjustment during the quarter 489 - Other comprehensive income before reclassifications - 1,695 Amounts reclassified from accumulated other comprehensive income - 39 Net current period other comprehensive income 489 1,734 Balance at December 29, 2017 9,166 (36,593 ) Translation adjustment during the quarter 1,851 - Amounts reclassified from accumulated other comprehensive income - 474 Net current period other comprehensive income 1,851 474 Balance at March 30, 2018 $ 11,017 $ (36,119 ) Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter and three March 29, 2019 Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 29, 2019 March 29, 2019 Changes in benefit plan items Actuarial losses $ 614 (a) $ 1,835 (a) Transition asset and prior service benefit 10 (a) 29 (a) Total amortization 624 1,864 Income taxes 146 437 Total reclassification net of tax $ 478 $ 1,427 Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter and three March 30, 2018 Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 30, 2018 March 30, 2018 Changes in benefit plan items Actuarial losses $ 676 (a) $ 2,121 (a) Transition asset and prior service benefit 10 (a) 30 (a) Total amortization 686 2,151 Other benefit plan adjustments - (1,695 ) Income taxes 212 1,164 Total reclassification net of tax $ 474 $ 2,682 (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 and Other Operating Income	9 Months Ended
	Mar. 29, 2019
Notes to Financial Statements
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	N. Restructuring of Operations and Other Operating Income Restructuring expenses 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 restructuring charges of $131 $738 three March 29, 2019, three March 30, 2018, $452 $2,501, Restructuring activities since June 2015 176 March 29, 2019 $10,011. The following is a rollforward of restructuring activity: Accrued restructuring liability, June 30, 2018 $ 90 Additions during the year 738 Payments and adjustments during the year (800 ) Accrued restructuring liability, March 29, 2019 $ 28 Other Operating Income – Sale of Mill Log Business On February 7, 2019, one $1,968 $421 March 29, 2019 March 30, 2018, $1,636 $901 three March 29, 2019 March 30, 2018, $6,298, $495. March 4, 2019 $7,658, $5,158 $2,500 March 4, 2020. $865 Other Operating Income – Fair Value Adjustment of Contingent Consideration As discussed in Note B, the Company issued a contingent consideration as part of the Veth Propulsion acquisition. Under the terms of the Purchase Agreement, in addition to the cash consideration, the Company would pay an earn-out (a contingent consideration) if the EBITDA of Veth Propulsion for the period January 1, 2018 December 31, 2018 $3,700 805, not As of March 29, 2019, $2,320 $492 In April 2019, May 2019.

Note O - Earnings Per Share

Note O - Earnings Per Share	9 Months Ended
	Mar. 29, 2019
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. Certain 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 For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Basic: Net income $ 4,587 $ 4,336 $ 11,569 $ 3,690 Less: Net earnings attributable to noncontrolling interest (27 ) (28 ) (75 ) (104 ) Less: Undistributed earnings attributable to unvested shares (59 ) (98 ) (166 ) (86 ) Net income available to Twin Disc shareholders 4,501 4,210 11,328 3,500 Weighted average shares outstanding - basic 12,914 11,313 12,437 11,289 Basic Income Per Share: Net income per share - basic $ 0.35 $ 0.37 $ 0.91 $ 0.31 Diluted: Net income $ 4,587 $ 4,336 $ 11,569 $ 3,690 Less: Net earnings attributable to noncontrolling interest (27 ) (28 ) (75 ) (104 ) Less: Undistributed earnings attributable to unvested shares (59 ) (98 ) (166 ) (86 ) Net income available to Twin Disc shareholders 4,501 4,210 11,328 3,500 Weighted average shares outstanding - basic 12,914 11,313 12,437 11,289 Effect of dilutive stock awards 232 31 215 31 Weighted average shares outstanding - diluted 13,146 11,344 12,652 11,320 Diluted Income Per Share: Net income per share - diluted $ 0.34 $ 0.37 $ 0.90 $ 0.31 The following potential common shares were excluded from diluted EPS for the quarter and three March 29, 2019 129.1 184.3 33.1 16.2, 3.2 The following potential common shares were excluded from diluted EPS for the quarter and three March 30, 2018 179.1 237.7 5.4

Note P - Lease Liabilities

Note P - Lease Liabilities	9 Months Ended
	Mar. 29, 2019
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 For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Operating lease cost $ 872 $ 601 $ 2,603 $ 1,900 Short-term lease cost 1 (17 ) 23 34 Variable lease cost 11 1 16 4 Total lease cost 884 585 2,642 1,938 Less: Sublease income (2 ) (27 ) (18 ) (177 ) Net lease cost $ 882 $ 558 $ 2,624 $ 1,761 Other information related to leases was as follows: For the Quarter Ended For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 824 $ 662 $ 2,548 $ 1,863 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 380 206 12,453 1,648 Weighted average remaining lease term (years): Operating leases 11.7 5.7 Weighted average discount rate: Operating leases 7.7 % 6.8 % Approximate future minimum rental commitments under non-cancellable leases as of March 29, 2019 Operating Leases 2019 $ 755 2020 2,754 2021 2,081 2022 1,546 2023 1,400 Thereafter 12,232 Total future lease payments 20,768 Less: Amount representing interest (7,443 ) Present value of future payments $ 13,325 The Company had $13,333 $6,527 March 29, 2019 June 30, 2018, $13,325 $6,527 March 29, 2019 June 30, 2018,

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 29, 2019
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 entities in its marine and propulsion 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 three March 30, 2018, three March 30, 2018. c. In March 2017, 2017 07 July 1, 2018 The following table presents the effect of the adoption of ASU 2017 07 three March 30, 2018: For the Quarter Ended March 30, 2018 Adoption March 30, 2018 As Reported Impact Restated Cost of goods sold $ 44,624 $ (97 ) $ 44,527 Gross profit 20,725 97 20,822 Marketing, engineering and administrative expenses 14,747 (198 ) 14,549 Income from operations 5,526 295 5,821 Other expense (income), net (23 ) 295 272 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 g. In August 2018, No. 33 10532, X 3 04 3 04 second 2019. not New Accounting Releases In August 2017, 2017 12, 815 December 15, 2018 ( 2020 fourth 2019. In August 2018, 2018 13 820, December 15, 2019 ( 2021 In August 2018, 2018 14 December 15, 2020 ( 2021 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 2019. may not may

Note A - Basis of Presentation

Note A - Basis of Presentation (Tables)	9 Months Ended
	Mar. 29, 2019
Accounting Standards Update 2017-07 [Member]
Notes Tables
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 30, 2018 Adoption March 30, 2018 March 30, 2018 Adoption March 30, 2018 As Reported Impact Restated As Reported Impact Restated Cost of goods sold $ 44,624 $ (97 ) $ 44,527 $ 114,214 $ (292 ) $ 113,922 Gross profit 20,725 97 20,822 52,746 292 53,038 Marketing, engineering and administrative expenses 14,747 (198 ) 14,549 43,683 (670 ) 43,013 Income from operations 5,526 295 5,821 6,562 962 7,524 Other expense (income), net (23 ) 295 272 244 962 1,206
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)	9 Months Ended
	Mar. 29, 2019
Notes Tables
Schedule of Business Acquisitions by Acquisition, Consideration Transferred [Table Text Block]	Cash at closing (a) $ 58,862 Working capital adjustment settlement 545 Fair value of contingent consideration at acquisition date (b) 2,921 Total $ 62,328
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Fair Value of Assets Acquired Cash, including restricted cash $ 1,078 (a) Accounts receivable and other current assets 10,437 (b) Inventories 27,750 (c) Property, plant and equipment 2,661 (d) Intangibles 24,000 (e) Accounts payable and accrued liabilities (21,208 ) Deferred tax liability (7,376 ) (f) Total net assets acquired 37,342 Goodwill 24,986 (g) Total consideration $ 62,328
Schedule of Inventory Acquired, Measured at Fair Value [Table Text Block]	Inventories Raw materials $ 13,307 Projects work in progress at fair value 14,443 Inventories at fair value 27,750 Inventories at book value 23,375 Step-up $ 4,375
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Estimated fair Estimated average Annual value useful lives amortization Customer relationships $ 13,800 12 $ 1,150 Technology and know-how 8,400 7 1,200 Tradename 1,800 10 180 Total $ 24,000 $ 2,530
Business Acquisition, Pro Forma Information, Actual [Table Text Block]	Quarter Ended Three Quarters Ended March 29, 2019 March 29, 2019 Net sales $ 15,496 $ 42,931 Gross profit (a) 3,024 8,916 Operating income (b) 244 204 Net income (loss) attributable to Twin Disc 6 (569 )
Business Acquisition, Pro Forma Information [Table Text Block]	Quarter Ended Three Quarters Ended March 30, 2018 March 30, 2018 Net sales $ 78,615 $ 209,517 Gross profit (a) 23,384 61,993 Net income attributable to Twin Disc (b) 2,859 784 Basic income per share attributable to Twin Disc common shareholders $ 0.25 $ 0.07 Diluted income per share attributable to Twin Disc common shareholders $ 0.25 $ 0.07 Weighted average number of common shares outstanding: Basic 11,313 11,289 Diluted 11,344 11,320

Note C - Revenue Recognition (T

Note C - Revenue Recognition (Tables)	9 Months Ended
	Mar. 29, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 8,149 $ 2,457 $ (1,070 ) $ 9,536 Land-based transmissions 27,133 8,309 (8,538 ) 26,904 Marine and propulsion systems 36,076 15,573 (11,908 ) 39,741 Other 16 1,208 15 1,239 Total $ 71,374 $ 27,547 $ (21,501 ) $ 77,420 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 22,883 $ 6,434 $ (3,619 ) $ 25,698 Land-based transmissions 86,876 20,765 (21,322 ) 86,319 Marine and propulsion systems 101,464 46,037 (33,629 ) 113,872 Other 50 4,321 (44 ) 4,327 Total $ 211,273 $ 77,557 $ (58,614 ) $ 230,216

Note D - Inventories (Tables)

Note D - Inventories (Tables)	9 Months Ended
	Mar. 29, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 29, 2019 June 30, 2018 Inventories: Finished parts $ 53,992 $ 49,332 Work in process 26,050 13,183 Raw materials 48,126 21,486 $ 128,168 $ 84,001

Note E - Warranty (Tables)

Note E - Warranty (Tables)	9 Months Ended
	Mar. 29, 2019
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Reserve balance, beginning of period $ 3,843 $ 2,467 $ 4,407 $ 2,062 Current period expense and adjustments 670 1,217 1,527 2,598 Payments or credits to customers (742 ) (559 ) (2,688 ) (1,581 ) Acquisition - - 557 - Translation (21 ) 24 (53 ) 70 Reserve balance, end of period $ 3,750 $ 3,149 $ 3,750 $ 3,149

Note G - Business Segments (Tab

Note G - Business Segments (Tables)	9 Months Ended
	Mar. 29, 2019
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Net sales Manufacturing segment sales $ 71,374 $ 58,482 $ 211,273 $ 146,935 Distribution segment sales 27,547 22,854 77,557 61,852 Inter/Intra segment elimination – manufacturing (16,272 ) (13,494 ) (45,953 ) (33,315 ) Inter/Intra segment elimination – distribution (5,229 ) (2,493 ) (12,661 ) (8,512 ) $ 77,420 $ 65,349 $ 230,216 $ 166,960 Net income (loss) attributable to Twin Disc Manufacturing segment net income $ 6,350 $ 6,910 $ 21,509 $ 12,100 Distribution segment net (loss) income (498 ) 1,149 935 2,205 Corporate and eliminations (1,292 ) (3,751 ) (10,950 ) (10,719 ) $ 4,560 $ 4,308 $ 11,494 $ 3,586
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Assets March 29, 2019 June 30, 2018 Manufacturing segment assets $ 385,078 $ 266,417 Distribution segment assets 49,446 52,230 Corporate assets and elimination of intercompany assets (89,700 ) (77,407 ) $ 344,824 $ 241,240

Note I - Pension and Other Po_2

Note I - Pension and Other Postretirement Benefit Plans (Tables)	9 Months Ended
	Mar. 29, 2019
Notes Tables
Schedule of Net Funded Status [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Pension Benefits: Service cost $ 242 $ 260 $ 739 $ 763 Interest cost 1,095 1,089 3,270 3,225 Expected return on plan assets (1,329 ) (1,524 ) (3,992 ) (4,565 ) Amortization of transition obligation 9 9 26 27 Amortization of prior service cost 1 1 3 3 Amortization of actuarial net loss 678 759 2,033 2,277 Net periodic benefit cost $ 696 $ 594 $ 2,079 $ 1,730 Postretirement Benefits: Service cost $ 5 $ 5 $ 14 $ 15 Interest cost 76 78 228 247 Amortization of actuarial net loss (69 ) (59 ) (206 ) (115 ) Net periodic benefit cost $ 12 $ 24 $ 36 $ 147

Note K - Goodwill and Other I_2

Note K - Goodwill and Other Intangibles (Tables)	9 Months Ended
	Mar. 29, 2019
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 24,986 - 24,986 - 24,986 Translation adjustment (1,006 ) - (1,006 ) (72 ) (934 ) Balance at March 29, 2019 $ 40,494 $ (13,822 ) $ 26,672 $ 2,620 $ 24,052
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 24,000 - 24,000 1,800 13,800 8,400 - Other additions 103 - 103 - - - 103 Amortization - (1,995 ) (1,995 ) (196 ) (846 ) (883 ) (70 ) Translation adjustment (898 ) - (898 ) (98 ) (500 ) (298 ) (2 ) Balance at March 29, 2019 $ 36,690 $ (13,776 ) $ 22,914 $ 2,794 $ 12,454 $ 7,219 $ 447
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Fiscal Year 2019 $ 689 2020 2,659 2021 2,609 2022 2,586 2023 2,579 2024 2,549

Note L - Long-term Debt (Tables

Note L - Long-term Debt (Tables)	9 Months Ended
	Mar. 29, 2019
Notes Tables
Schedule of Debt [Table Text Block]	March 29, 2019 June 30, 2018 Borrowings under the Credit Agreement Revolving loans $ 28,893 $ 4,787 Term loan (due March 2026) 20,000 - Other 387 37 Subtotal 49,280 4,824 Less: current maturities (2,000 ) - Total long-term debt $ 47,280 $ 4,824

Note M - Shareholders' Equity (

Note M - Shareholders' Equity (Tables)	9 Months Ended
	Mar. 29, 2019
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 2,861 41 2,902 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 44,044 188,660 (30,760 ) (24,005 ) 520 178,459 Net income 4,073 6 4,079 Translation adjustments (1,773 ) (13 ) (1,786 ) Benefit plan adjustments, net of tax 478 478 Compensation expense 590 590 Shares (acquired) issued, net (497 ) 520 23 Balance, December 28, 2018 44,137 192,733 (32,055 ) (23,485 ) 513 181,843 Net income 4,560 27 4,587 Translation adjustments (885 ) 16 (869 ) Benefit plan adjustments, net of tax 478 478 Compensation expense 603 603 Shares issued (acquired), net 15 (15 ) - Balance, March 29, 2019 $ 44,755 $ 197,293 $ (32,462 ) $ (23,500 ) $ 556 $ 186,642 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 3,391 13 3,404 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 9,878 172,759 (29,650 ) (23,388 ) 481 130,080 Net (loss) income (4,113 ) 63 (4,050 ) Translation adjustments 489 (1 ) 488 Benefit plan adjustments, net of tax 1,734 1,734 Compensation expense 584 584 Shares (acquired) issued, net (376 ) 189 (187 ) Balance, December 29, 2017 10,086 168,646 (27,427 ) (23,199 ) 543 128,649 Net income 4,308 28 4,336 Translation adjustments 1,851 (2 ) 1,849 Benefit plan adjustments, net of tax 474 474 Compensation expense 324 324 Shares issued (acquired), net 492 (514 ) (22 ) Balance, March 30, 2018 $ 10,902 $ 172,954 $ (25,102 ) $ (23,713 ) $ 569 $ 135,610
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 loss (536 ) (6,432 ) Balance at September 28, 2018 6,549 (37,309 ) Translation adjustment during the quarter (1,773 ) - Amounts reclassified from accumulated other comprehensive income - 478 Net current period other comprehensive (loss) income (1,773 ) 478 Balance at December 28, 2018 4,776 (36,831 ) Translation adjustment during the quarter (885 ) - Amounts reclassified from accumulated other comprehensive income - 478 Net current period other comprehensive (loss) income (885 ) 478 Balance at March 29, 2019 $ 3,891 $ (36,353 ) 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 ) Translation adjustment during the quarter 489 - Other comprehensive income before reclassifications - 1,695 Amounts reclassified from accumulated other comprehensive income - 39 Net current period other comprehensive income 489 1,734 Balance at December 29, 2017 9,166 (36,593 ) Translation adjustment during the quarter 1,851 - Amounts reclassified from accumulated other comprehensive income - 474 Net current period other comprehensive income 1,851 474 Balance at March 30, 2018 $ 11,017 $ (36,119 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 29, 2019 March 29, 2019 Changes in benefit plan items Actuarial losses $ 614 (a) $ 1,835 (a) Transition asset and prior service benefit 10 (a) 29 (a) Total amortization 624 1,864 Income taxes 146 437 Total reclassification net of tax $ 478 $ 1,427 Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 30, 2018 March 30, 2018 Changes in benefit plan items Actuarial losses $ 676 (a) $ 2,121 (a) Transition asset and prior service benefit 10 (a) 30 (a) Total amortization 686 2,151 Other benefit plan adjustments - (1,695 ) Income taxes 212 1,164 Total reclassification net of tax $ 474 $ 2,682

Note N - Restructuring of Ope_2

Note N - Restructuring of Operations and Other Operating Income (Tables)	9 Months Ended
	Mar. 29, 2019
Notes Tables
Restructuring and Related Costs [Table Text Block]	Accrued restructuring liability, June 30, 2018 $ 90 Additions during the year 738 Payments and adjustments during the year (800 ) Accrued restructuring liability, March 29, 2019 $ 28

Note O - Earnings Per Share (Ta

Note O - Earnings Per Share (Tables)	9 Months Ended
	Mar. 29, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Basic: Net income $ 4,587 $ 4,336 $ 11,569 $ 3,690 Less: Net earnings attributable to noncontrolling interest (27 ) (28 ) (75 ) (104 ) Less: Undistributed earnings attributable to unvested shares (59 ) (98 ) (166 ) (86 ) Net income available to Twin Disc shareholders 4,501 4,210 11,328 3,500 Weighted average shares outstanding - basic 12,914 11,313 12,437 11,289 Basic Income Per Share: Net income per share - basic $ 0.35 $ 0.37 $ 0.91 $ 0.31 Diluted: Net income $ 4,587 $ 4,336 $ 11,569 $ 3,690 Less: Net earnings attributable to noncontrolling interest (27 ) (28 ) (75 ) (104 ) Less: Undistributed earnings attributable to unvested shares (59 ) (98 ) (166 ) (86 ) Net income available to Twin Disc shareholders 4,501 4,210 11,328 3,500 Weighted average shares outstanding - basic 12,914 11,313 12,437 11,289 Effect of dilutive stock awards 232 31 215 31 Weighted average shares outstanding - diluted 13,146 11,344 12,652 11,320 Diluted Income Per Share: Net income per share - diluted $ 0.34 $ 0.37 $ 0.90 $ 0.31

Note P - Lease Liabilities (Tab

Note P - Lease Liabilities (Tables)	9 Months Ended
	Mar. 29, 2019
Notes Tables
Lease, Cost [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Operating lease cost $ 872 $ 601 $ 2,603 $ 1,900 Short-term lease cost 1 (17 ) 23 34 Variable lease cost 11 1 16 4 Total lease cost 884 585 2,642 1,938 Less: Sublease income (2 ) (27 ) (18 ) (177 ) Net lease cost $ 882 $ 558 $ 2,624 $ 1,761
Operating and Finance Leases, Other Disclosures [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 29, 2019 March 30, 2018 March 29, 2019 March 30, 2018 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 824 $ 662 $ 2,548 $ 1,863 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 380 206 12,453 1,648 Weighted average remaining lease term (years): Operating leases 11.7 5.7 Weighted average discount rate: Operating leases 7.7 % 6.8 %
Schedule of Future Minimum Rental Payments for Operating Leases and Finance Lease, Liability, Maturity [Table Text Block]	Operating Leases 2019 $ 755 2020 2,754 2021 2,081 2022 1,546 2023 1,400 Thereafter 12,232 Total future lease payments 20,768 Less: Amount representing interest (7,443 ) Present value of future payments $ 13,325

Note A - Basis of Presentatio_2

Note A - Basis of Presentation (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 28, 2018	Mar. 29, 2019
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	$ 6,903
AOCI Attributable to Parent [Member]
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect	$ (6,903)	$ (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	Mar. 29, 2019	Jun. 30, 2018
Property, plant and equipment, net	$ 67,422	$ 55,467
Lease obligations	$ 13,325	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		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Cost of goods sold	$ 54,303	$ 44,527	$ 157,026	$ 113,922
Gross profit	23,117	20,822	73,190	53,038
Marketing, engineering and administrative expenses	17,375	14,549	55,269	43,013
Income from operations	6,968	5,821	18,540	7,524
Other expense (income), net	$ 490	272	$ 1,608	1,206
Previously Reported [Member]
Cost of goods sold		44,624		114,214
Gross profit		20,725		52,746
Marketing, engineering and administrative expenses		14,747		43,683
Income from operations		5,526		6,562
Other expense (income), net		(23)		244
Restatement Adjustment [Member] | Accounting Standards Update 2017-07 [Member]
Cost of goods sold		(97)		(292)
Gross profit		97		292
Marketing, engineering and administrative expenses		(198)		(670)
Income from operations		295		962
Other expense (income), net		$ 295		$ 962

Note B - Acquisition of Veth _3

Note B - Acquisition of Veth Propulsion Holding BV (Details Textual) - USD ($) $ in Thousands	Jul. 02, 2018	Jan. 31, 2019	Mar. 29, 2019		Mar. 30, 2018	Mar. 29, 2018	Mar. 29, 2019		Mar. 29, 2019		Mar. 30, 2018
Payments to Acquire Businesses, Net of Cash Acquired, Total									$ 60,195
Amortization of Inventory Fair Value Step-up									3,223
Amortization of Intangible Assets, Total			$ 746			$ 46			1,995		135
Veth Propulsion [Member]
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Payments to Acquire Businesses, Gross	$ 58,862						$ 58,862	[1]
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred		$ 545					545
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	3,700
Payments to Acquire Businesses, Net of Cash Acquired, Total	60,195
Cash Acquired from Acquisition	1,078
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Restricted Cash	$ 698
Percentage of Work in Process of Inventory Completed	70.00%
Inventory, Net, Step-up Value Amount	$ 4,375		4,375				4,375		4,375
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total	$ 2,661		2,661	[2]			$ 2,661	[2]	2,661	[2]
Amortization of Inventory Fair Value Step-up			1,050		$ 1,179				3,223		3,537
Amortization of Intangible Assets, Total			749						1,985
Business Combination, Acquisition Related Costs			$ 2						$ 461
Amortization of Intangible Assets and Interest Expense of Long-term Debt, Total, Before Tax					$ 1,136						$ 3,408
Veth Propulsion [Member] | Het Komt Vast Goed B.V. [Member]
Lessee, Operating Lease, Term of Contract	15 years
Lessee, Operating Lease, Annual Rent Payments	$ 1,249
Veth Propulsion [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	2 years
Veth Propulsion [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	13 years
[1]	In the statement of cash flows, the cash used in the acquisition of Veth Propulsion in the amount of $60,195 includes the cash used to pay off the loan to the prior parent of Veth Propulsion, and is net of the cash, including restricted cash, acquired in the transaction, of $1,078 (see below for fair value of assets acquired and liabilities assumed).
[2]	The fair value of property, plant and equipment is estimated at $2,661. These assets primarily consist of manufacturing equipment, test equipment, vehicles, and office and plant fixtures. Their estimated useful lives range from 2 to 13 years.

Note B - Acquisition of Veth _4

Note B - Acquisition of Veth Propulsion Holding BV - Consideration Transferred (Details) - Veth Propulsion [Member] - USD ($) $ in Thousands		Jul. 02, 2018	Jan. 31, 2019	Mar. 29, 2019
Cash at closing		$ 58,862		$ 58,862	[1]
Working capital adjustment settlement			$ 545	545
Fair value of contingent consideration at acquisition date	[2]			2,921
Total				$ 62,328
[1]	In the statement of cash flows, the cash used in the acquisition of Veth Propulsion in the amount of $60,195 includes the cash used to pay off the loan to the prior parent of Veth Propulsion, and is net of the cash, including restricted cash, acquired in the transaction, of $1,078 (see below for fair value of assets acquired and liabilities assumed).
[2]	This pertains to the fair value of the earn-out at acquisition date, which was estimated based on a probability-weighted approach. Under ASC 805, Business Combinations, changes in fair value of this amount is recognized in the income statement and is not an adjustment to the opening balance sheet or the determination of goodwill. See discussion of Fair Value Adjustment of Contingent Consideration in Note N, Restructuring of Operations and Other Operating Income.

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		Mar. 29, 2019		Jul. 02, 2018	Jun. 30, 2018
Goodwill, Ending Balance		$ 26,672			$ 2,692
Veth Propulsion [Member]
Cash, including restricted cash	[1]	1,078
Accounts receivable and other current assets	[2]	10,437
Inventories	[3]	27,750
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total		2,661	[4]	$ 2,661
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		24,000	[5]	24,000
Accounts payable and accrued liabilities		(21,208)
Deferred tax liability	[6]	(7,376)
Total net assets acquired		37,342
Goodwill, Ending Balance		24,986	[7]	$ 24,986
Total consideration		$ 62,328
[1]	Included in cash is restricted cash in the amount of $698. This amount is restricted and not available for general business use in order to guarantee performance obligations by Veth Propulsion under certain employee and customer contracts. A significant majority of these arrangements have expired as of March 29, 2019 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 consist of: Inventories Raw materials $ 13,307 Projects work in progress at fair value 14,443 Inventories at fair value 27,750 Inventories at book value 23,375 Step-up $ 4,375 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-up to fair value less estimated costs to complete and sell resulted in a step-up value of approximately $4,375.
[4]	The fair value of property, plant and equipment is estimated at $2,661. These assets primarily consist of manufacturing equipment, test equipment, vehicles, and office and plant fixtures. Their estimated useful lives range from 2 to 13 years.
[5]	Intangible assets consist of: Estimated fair Estimated average Annual value useful lives amortization Customer relationships $ 13,800 12 $ 1,150 Technology and know-how 8,400 7 1,200 Tradename 1,800 10 180 Total $ 24,000 $ 2,530 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] - USD ($) $ in Thousands		Mar. 29, 2019	Jul. 02, 2018
Raw materials		$ 13,307
Projects work in progress at fair value		14,443
Inventories at fair value	[1]	27,750
Inventories at book value		23,375
Step-up		$ 4,375	$ 4,375
[1]	Inventories consist of: Inventories Raw materials $ 13,307 Projects work in progress at fair value 14,443 Inventories at fair value 27,750 Inventories at book value 23,375 Step-up $ 4,375 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-up to fair value less estimated costs to complete and sell resulted in a step-up value of approximately $4,375.

Note B - Acquisition of Veth _7

Note B - Acquisition of Veth Propulsion Holding BV - Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 29, 2019	Mar. 29, 2019
Intangible assets, estimated fair value		$ 24,000
Intangible assets, estimated average useful lives (Year)		10 years
Customer Relationships [Member]
Intangible assets, estimated fair value		$ 13,800
Technology-Based Intangible Assets [Member]
Intangible assets, estimated fair value		8,400
Trade Names [Member]
Intangible assets, estimated fair value		$ 1,800
Veth Propulsion [Member]
Intangible assets, estimated fair value	$ 24,000
Intangible assets, annual amortization	2,530
Veth Propulsion [Member] | Customer Relationships [Member]
Intangible assets, estimated fair value	$ 13,800
Intangible assets, estimated average useful lives (Year)	12 years
Intangible assets, annual amortization	$ 1,150
Veth Propulsion [Member] | Technology-Based Intangible Assets [Member]
Intangible assets, estimated fair value	$ 8,400
Intangible assets, estimated average useful lives (Year)	7 years
Intangible assets, annual amortization	$ 1,200
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] - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Mar. 29, 2019	Mar. 29, 2019
Net sales		$ 15,496	$ 42,931
Gross profit	[1]	3,024	8,916
Operating income	[2]	244	204
Net income (loss) attributable to Twin Disc		$ 6	$ (569)
[1]	Gross profit includes the non-recurring purchase accounting charge for the step-up of inventories acquired of $1,050 and $3,223 for the quarter and three quarters ended March 29, 2019, respectively.
[2]	In addition to (a), operating income includes the depreciation of property, plant and equipment and amortization of intangible assets acquired of $749 and $1,985 for the quarter and three quarters ended March 29, 2019, respectively. Operating income also includes one-time transaction charges related to the acquisition of $2 and $461 for the quarter and three quarters ended March 29, 2019, respectively.

Note B - Acquisition of Veth _9

Note B - Acquisition of Veth Propulsion Holding BV - Unaudited Supplemental Pro Forma Information (Details) - Veth Propulsion [Member] - USD ($) $ / shares in Units, shares in Thousands		3 Months Ended	9 Months Ended
		Mar. 30, 2018	Mar. 30, 2018
Net sales		$ 78,615,000	$ 209,517,000
Gross profit	[1]	23,384,000	61,993,000
Net income attributable to Twin Disc	[2]	$ 2,859	$ 784
Basic income per share attributable to Twin Disc common shareholders (in dollars per share)		$ 0.25	$ 0.07
Diluted income per share attributable to Twin Disc common shareholders (in dollars per share)		$ 0.25	$ 0.07
Basic (in shares)		11,313	11,289
Diluted (in shares)		11,344	11,320
[1]	Gross profit includes the amortization of the step-up of inventories of $1,179 and $3,537 for the quarter and three quarters ended March 30, 2018, respectively.
[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 and $3,408, before tax, for the quarter and three quarters ended March 30, 2018, respectively.

Note C - Revenue Recognition (D

Note C - Revenue Recognition (Details Textual) $ in Thousands	Mar. 29, 2019USD ($)
Contract with Customer, Liability, Total	$ 0
Contract with Customer, Asset, before Allowance for Credit Loss, Total	$ 0

Note C - Revenue Recognition -

Note C - Revenue Recognition - Net Sales by Product Group (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Net Sales	$ 77,420	$ 65,349	$ 230,216	$ 166,960
Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	71,374	58,482	211,273	146,935
Operating Segments [Member] | Distribution Segment [Member]
Net Sales	27,547	22,854	77,557	61,852
Intersegment Eliminations [Member]
Net Sales	(21,501)		(58,614)
Intersegment Eliminations [Member] | Manufacturing Segment [Member]
Net Sales	(16,272)	(13,494)	(45,953)	(33,315)
Intersegment Eliminations [Member] | Distribution Segment [Member]
Net Sales	(5,229)	$ (2,493)	(12,661)	$ (8,512)
Industrial [Member]
Net Sales	9,536		25,698
Industrial [Member] | Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	8,149		22,883
Industrial [Member] | Operating Segments [Member] | Distribution Segment [Member]
Net Sales	2,457		6,434
Industrial [Member] | Intersegment Eliminations [Member]
Net Sales	(1,070)		(3,619)
Land Based Transmissions [Member]
Net Sales	26,904		86,319
Land Based Transmissions [Member] | Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	27,133		86,876
Land Based Transmissions [Member] | Operating Segments [Member] | Distribution Segment [Member]
Net Sales	8,309		20,765
Land Based Transmissions [Member] | Intersegment Eliminations [Member]
Net Sales	(8,538)		(21,322)
Marine and Propulsion Systems [Member]
Net Sales	39,741		113,872
Marine and Propulsion Systems [Member] | Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	36,076		101,464
Marine and Propulsion Systems [Member] | Operating Segments [Member] | Distribution Segment [Member]
Net Sales	15,573		46,037
Marine and Propulsion Systems [Member] | Intersegment Eliminations [Member]
Net Sales	(11,908)		(33,629)
Other [Member]
Net Sales	1,239		4,327
Other [Member] | Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	16		50
Other [Member] | Operating Segments [Member] | Distribution Segment [Member]
Net Sales	1,208		4,321
Other [Member] | Intersegment Eliminations [Member]
Net Sales	$ 15		$ (44)

Note D - Inventories - Inventor

Note D - Inventories - Inventories (Details) - USD ($) $ in Thousands	Mar. 29, 2019	Jun. 30, 2018
Finished parts	$ 53,992	$ 49,332
Work in process	26,050	13,183
Raw materials	48,126	21,486
Total inventories	$ 128,168	$ 84,001

Note E - Warranty (Details Text

Note E - Warranty (Details Textual) - USD ($) $ in Thousands	Mar. 29, 2019	Mar. 30, 2018
Product Warranty Accrual, Current	$ 2,983	$ 2,705
Product Warranty Accrual, Noncurrent	$ 767	$ 444

Note E - Warranty - Warranty (D

Note E - Warranty - Warranty (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Reserve balance	$ 3,843	$ 2,467	$ 4,407	$ 2,062
Current period expense and adjustments	670	1,217	1,527	2,598
Payments or credits to customers	(742)	(559)	(2,688)	(1,581)
Acquisition, Warranty			557
Translation	(21)	24	(53)	70
Reserve balance	$ 3,750	$ 3,149	$ 3,750	$ 3,149

Note G - Business Segments (Det

Note G - Business Segments (Details Textual)	9 Months Ended
	Mar. 29, 2019
Number of Reportable Segments	2

Note G - Business Segments - Re

Note G - Business Segments - Revenues by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Net sales
Net sales	$ 77,420	$ 65,349	$ 230,216	$ 166,960
Net income (loss)	4,560	4,308	11,494	3,586
Intersegment Eliminations [Member]
Net sales
Net sales	(21,501)		(58,614)
Corporate, Non-Segment [Member]
Net sales
Net income (loss)	(1,292)	(3,751)	(10,950)	(10,719)
Manufacturing Segment [Member] | Operating Segments [Member]
Net sales
Net sales	71,374	58,482	211,273	146,935
Net income (loss)	6,350	6,910	21,509	12,100
Manufacturing Segment [Member] | Intersegment Eliminations [Member]
Net sales
Net sales	(16,272)	(13,494)	(45,953)	(33,315)
Distribution Segment [Member] | Operating Segments [Member]
Net sales
Net sales	27,547	22,854	77,557	61,852
Net income (loss)	(498)	1,149	935	2,205
Distribution Segment [Member] | Intersegment Eliminations [Member]
Net sales
Net sales	$ (5,229)	$ (2,493)	$ (12,661)	$ (8,512)

Note G - Business Segments - As

Note G - Business Segments - Assets by Segment (Details) - USD ($) $ in Thousands	Mar. 29, 2019	Jun. 30, 2018
Segment Assets	$ 344,824	$ 241,240
Operating Segments [Member] | Manufacturing Segment [Member]
Segment Assets	385,078	266,417
Operating Segments [Member] | Distribution Segment [Member]
Segment Assets	49,446	52,230
Corporate, Non-Segment [Member]
Segment Assets	$ (89,700)	$ (77,407)

Note H - Stock-based Compensa_2

Note H - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 1,281,000		$ 1,281,000
Performance Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			42,300	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	63,400	69,200	63,400	69,200
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	188,000	206,200	188,000	206,200
Share-based Payment Arrangement, Expense	$ 240,000	$ 138,000	$ 1,028,000	$ 274,000
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		$ 15.02
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			35,600	85,300
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	184,300	237,700	184,300	237,700
Share-based Payment Arrangement, Expense	$ 280,000	$ 186,000	$ 796,000	$ 1,113,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 912,000		912,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value			$ 2,102,000	$ 1,809,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period			3,800	32,700
Share-based Payment Arrangement, Nonvested Award, 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		38,000
Share-based Payment Arrangement, Expense	$ 81,000		$ 217,000
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		$ 25.77
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 761,000		$ 761,000
Share-based Payment Arrangement, Nonvested Award, 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		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax	$ 478	$ 474	$ 1,427	$ 2,682
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	146	$ 212	437	$ 1,164
Pension Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	$ 2,382		2,382
Defined Benefit Plan, Plan Assets, Contributions by Employer			$ 2,305

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		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Pension Plan [Member]
Service cost	$ 242	$ 260	$ 739	$ 763
Interest cost	1,095	1,089	3,270	3,225
Expected return on plan assets	1,329	1,524	3,992	4,565
Amortization of transition obligation	(9)	(9)	(26)	(27)
Amortization of prior service cost	1	1	3	3
Amortization of actuarial net loss	678	759	2,033	2,277
Net periodic benefit cost	696	594	2,079	1,730
Other Postretirement Benefits Plan [Member]
Service cost	5	5	14	15
Interest cost	76	78	228	247
Amortization of actuarial net loss	(69)	(59)	(206)	(115)
Net periodic benefit cost	$ 12	$ 24	$ 36	$ 147

Note J - Income Taxes (Details

Note J - Income Taxes (Details Textual) - USD ($) $ in Thousands	6 Months Ended	9 Months Ended		12 Months Ended
	Dec. 28, 2018	Mar. 29, 2019	Mar. 30, 2018	Jun. 30, 2018
Effective Income Tax Rate Reconciliation, Percent, Total		24.60%	39.40%
Increase (Decrease) in Income Tax Expense Due to Changes in Enacted Tax Rate				$ 4,243
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent				69.70%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%		35.00%
Transitional Income Tax , Amount		$ 0
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		$ 1,152
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				(62.40%)
Increase (Decrease) in Income Tax Expense Due to Changes in Enacted Tax Rate				$ 392
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent				6.40%
Open Tax Year	2011 2012 2013 2014 2015 2016 2017 2018
State and Local Jurisdiction [Member]
Open Tax Year	2016 2017 2018
State and Local Jurisdiction [Member] | Wisconsin Department of Revenue [Member]
Open Tax Year	2010 2011 2012 2013

Note K - Goodwill and Other I_3

Note K - Goodwill and Other Intangibles (Details Textual) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 29, 2019		Mar. 29, 2018	Mar. 29, 2019		Mar. 30, 2018	Jul. 02, 2018	Jun. 30, 2018
Goodwill, Ending Balance	$ 26,672			$ 26,672				$ 2,692
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				10 years
Amortization of Intangible Assets, Total	746		$ 46	$ 1,995		$ 135
Indefinite-lived Intangible Assets (Excluding Goodwill), Ending Balance	200			200				202
European Industrial [Member]
Goodwill, Ending Balance	2,620			2,620				$ 2,692
Goodwill, Impairment Loss				0
Veth Propulsion [Member]
Goodwill, Ending Balance	24,986	[1]		24,986	[1]		$ 24,986
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	24,000	[2]		24,000	[2]		$ 24,000
Amortization of Intangible Assets, Total	$ 749			$ 1,985
[1]	The Company is not able to deduct any of the goodwill for tax purposes.
[2]	Intangible assets consist of: Estimated fair Estimated average Annual value useful lives amortization Customer relationships $ 13,800 12 $ 1,150 Technology and know-how 8,400 7 1,200 Tradename 1,800 10 180 Total $ 24,000 $ 2,530 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	9 Months Ended
	Mar. 29, 2019	Jun. 30, 2018
Balance, beginning, goodwill gross carrying amount	$ 16,514
Acquisition, goodwill gross carrying amount	24,986
Translation adjustment, goodwill gross carrying amount	(1,006)
Balance, ending, goodwill gross carrying amount	40,494
Balance, goodwill accumulated impairment	(13,822)	$ (13,822)
Balance, beginning, goodwill net book value	2,692
Balance, ending, goodwill net book value	26,672
European Industrial [Member]
Acquisition, goodwill gross carrying amount
Translation adjustment, goodwill gross carrying amount	(72)
Balance, beginning, goodwill net book value	2,692
Balance, ending, goodwill net book value	2,620
European Propulsion [Member]
Acquisition, goodwill gross carrying amount	24,986
Translation adjustment, goodwill gross carrying amount	(934)
Balance, beginning, goodwill net book value
Balance, ending, goodwill net book value	$ 24,052

Note K - Goodwill and Other I_5

Note K - Goodwill and Other Intangibles - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2019	Mar. 29, 2018	Mar. 29, 2019	Mar. 30, 2018
Balance, Definite Intangible Assets Gross Carrying Amount			$ 13,485
Acquisition, Definite Intangible Assets Gross Carrying Amount			24,000
Other additions, Definite Intangible Assets Gross Carrying Amount			103
Translation adjustment, Definite Intangible Assets Gross Carrying Amount			(898)
Balance, Definite Intangible Assets Gross Carrying Amount	$ 36,690		36,690
Balance, Definite Intangible Assets Accumulated Amortization/Impairment			(11,781)
Amortization, Definite Intangible Assets Accumulated Amortization/Impairment	(746)	$ (46)	(1,995)	$ (135)
Translation adjustment, Definite Intangible Assets Accumulated Amortization/Impairment
Balance, Definite Intangible Assets Accumulated Amortization/Impairment	(13,776)		(13,776)
Balance, Definite Intangible Assets Net Book Value			1,704
Intangible assets, estimated fair value			24,000
Other additions, Definite Intangible Assets Net Book Value			103
Amortization, Definite Intangible Assets Net Book Value	(746)	$ (46)	(1,995)	$ (135)
Translation adjustment, Definite Intangible Assets Net Book Value			(898)
Balance, Definite Intangible Assets Net Book Value	22,914		22,914
Trade Names [Member]
Amortization, Definite Intangible Assets Accumulated Amortization/Impairment			(196)
Balance, Definite Intangible Assets Net Book Value			1,288
Intangible assets, estimated fair value			1,800
Other additions, Definite Intangible Assets Net Book Value
Amortization, Definite Intangible Assets Net Book Value			(196)
Translation adjustment, Definite Intangible Assets Net Book Value			(98)
Balance, Definite Intangible Assets Net Book Value	2,794		2,794
Customer Relationships [Member]
Amortization, Definite Intangible Assets Accumulated Amortization/Impairment			(846)
Balance, Definite Intangible Assets Net Book Value
Intangible assets, estimated fair value			13,800
Other additions, Definite Intangible Assets Net Book Value
Amortization, Definite Intangible Assets Net Book Value			(846)
Translation adjustment, Definite Intangible Assets Net Book Value			(500)
Balance, Definite Intangible Assets Net Book Value	12,454		12,454
Technology-Based Intangible Assets [Member]
Amortization, Definite Intangible Assets Accumulated Amortization/Impairment			(883)
Balance, Definite Intangible Assets Net Book Value
Intangible assets, estimated fair value			8,400
Other additions, Definite Intangible Assets Net Book Value
Amortization, Definite Intangible Assets Net Book Value			(883)
Translation adjustment, Definite Intangible Assets Net Book Value			(298)
Balance, Definite Intangible Assets Net Book Value	7,219		7,219
Other Intangible Assets [Member]
Amortization, Definite Intangible Assets Accumulated Amortization/Impairment			(70)
Balance, Definite Intangible Assets Net Book Value			416
Intangible assets, estimated fair value
Other additions, Definite Intangible Assets Net Book Value			103
Amortization, Definite Intangible Assets Net Book Value			(70)
Translation adjustment, Definite Intangible Assets Net Book Value			(2)
Balance, Definite Intangible Assets Net Book Value	$ 447		$ 447

Note K - Goodwill and Other I_6

Note K - Goodwill and Other Intangibles - Estimated Intangibles Amortization Expense (Details) $ in Thousands	Mar. 29, 2019USD ($)
2019	$ 689
2020	2,659
2021	2,609
2022	2,586
2023	2,579
2024	$ 2,549

Note L - Long-term Debt (Detail

Note L - Long-term Debt (Details Textual) $ in Thousands	Apr. 22, 2019USD ($)	Mar. 04, 2019USD ($)	Mar. 03, 2019USD ($)	Sep. 25, 2018USD ($)	Jul. 02, 2018USD ($)	Mar. 29, 2019USD ($)	Mar. 29, 2019USD ($)		Mar. 29, 2019USD ($)	Mar. 30, 2018USD ($)	Jun. 29, 2018USD ($)
Proceeds from Issuance of Long-term Debt, Total									$ 44,151
Proceeds from Sale Leaseback Agreement						$ 370
Principal Paid on Sale Leaseback Liabilities						$ 12
Minimum [Member]
Sale Leaseback Transactions, Term						3 years
Sale Leaseback Transactions, Implied Interest Rate						7.00%	7.00%		7.00%
Maximum [Member]
Sale Leaseback Transactions, Term						5 years
Sale Leaseback Transactions, Implied Interest Rate						25.00%	25.00%		25.00%
Prior Parent of Veth Propulsion [Member]
Repayments of Debt					$ 1,865
Bank of Montreal [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Subsequent Event [Member]
Derivative, Notional Amount	$ 20,000
Derivative, Maturity Date	Mar. 4, 2026
Veth Propulsion [Member]
Payments to Acquire Businesses, Gross					58,862		$ 58,862	[1]
The 2018 Credit Agreement [Member]
Proceeds from Issuance of Long-term Debt, Total					60,729
Repayments of Debt				$ 32,210
The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member]
Proceeds from Issuance of Long-term Debt, Total					25,729
Debt Instrument, Interest Rate During Period						2.98%			3.18%
The 2018 Credit Agreement [Member] | Term Loan [Member]
Proceeds from Issuance of Long-term Debt, Total					$ 35,000
Debt Instrument, Interest Rate During Period						4.72%			5.04%
BMO [Member] | The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity											$ 50,000
Line of Credit Facility, Current Borrowing Capacity						$ 50,000	50,000		$ 50,000
Line of Credit Facility, Remaining Borrowing Capacity						$ 21,107	$ 21,107		$ 21,107
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member]
Debt Agreement, Maximum Borrowing Capacity		$ 20,000									$ 35,000
Long-term Debt, Gross			$ 10,849
Proceeds from Issuance of Debt		9,151
Debt Instrument, Periodic Payment, Total		$ 500
Debt Instrument, Covenant, Funded Debt to EBITDA Ratio		3
Debt Instrument, Covenant, Minimum Tangible Net Worth Plus Half of Net Income		$ 100,000	$ 70,000
Debt Instrument, Collateral, Percentage of Equity Interests in Certain Domestic Subsidiaries Pledged		100.00%
Debt Instrument, Collateral, Percentage of Equity Interests in Certain Foreign Subsidiaries Pledged		65.00%
Debt Instrument, Maturity Date		Mar. 4, 2026	Jan. 2, 2020
Debt Instrument, Frequency of Periodic Payment		quarter
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member] | Minimum [Member]
Debt Instrument, Covenant, Funded Debt to EBITDA Ratio			3.5
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member] | Maximum [Member]
Debt Instrument, Covenant, Funded Debt to EBITDA Ratio			3.25
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			3.00%
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate		1.375%
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate		2.375%
[1]	In the statement of cash flows, the cash used in the acquisition of Veth Propulsion in the amount of $60,195 includes the cash used to pay off the loan to the prior parent of Veth Propulsion, and is net of the cash, including restricted cash, acquired in the transaction, of $1,078 (see below for fair value of assets acquired and liabilities assumed).

Note L - Long-term Debt - Long-

Note L - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 29, 2019	Jun. 30, 2018
Long-term debt	$ 49,280	$ 4,824
Less: current maturities	(2,000)
Long-term debt	47,280	4,824
Revolving Loan [Member]
Long-term debt	28,893	4,787
Term Loan [Member]
Long-term debt	20,000
Other Long-Term Debt [Member]
Long-term debt	$ 387	$ 37

Note M - Shareholders' Equity_2

Note M - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Sep. 25, 2018	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
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				$ 32,210
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased		315,000		315,000
Treasury Stock, Shares, Acquired		0	0	0	0

Note M - Shareholders' Equity -

Note M - Shareholders' Equity - Shareholders' Equity Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 29, 2019	Dec. 28, 2018	Sep. 28, 2018	Mar. 30, 2018	Dec. 29, 2017	Sep. 29, 2017	Mar. 29, 2019	Mar. 30, 2018
Balance	$ 181,843	$ 178,459	$ 143,616	$ 128,649	$ 130,080	$ 123,567	$ 143,616	$ 123,567
Net income (loss)	4,587	4,079	2,902	4,336	(4,050)	3,404	11,569	3,690
Translation adjustments	(869)	(1,786)	(561)	1,849	488	2,541	(3,217)	4,878
Benefit plan adjustments, net of tax	478	478	471	474	1,734	474	1,427	2,682
Release stranded tax effects
Cash dividends			(115)			(172)
Compensation expense	603	590	850	324	584	479
Common stock issued, net			32,210
Shares acquired, net		23	(914)	(22)	(187)	(213)
Balance	186,642	181,843	178,459	135,610	128,649	130,080	186,642	135,610
Common Stock [Member]
Balance	44,137	44,044	11,570	10,086	9,878	10,429	11,570	10,429
Net income (loss)
Translation adjustments
Benefit plan adjustments, net of tax
Release stranded tax effects
Cash dividends
Compensation expense	603	590	850	324	584	479
Common stock issued, net			32,210
Shares acquired, net	15	(497)	(586)	492	(376)	(1,030)
Balance	44,755	44,137	44,044	10,902	10,086	9,878	44,755	10,902
Retained Earnings [Member]
Balance	192,733	188,660	178,896	168,646	172,759	169,368	178,896	169,368
Net income (loss)	4,560	4,073	2,861	4,308	(4,113)	3,391
Translation adjustments
Benefit plan adjustments, net of tax
Release stranded tax effects			(6,903)				(6,903)
Cash dividends
Compensation expense
Common stock issued, net
Shares acquired, net
Balance	197,293	192,733	188,660	172,954	168,646	172,759	197,293	172,954
AOCI Attributable to Parent [Member]
Balance	(32,055)	(30,760)	(23,792)	(27,427)	(29,650)	(32,671)	(23,792)	(32,671)
Net income (loss)
Translation adjustments	(885)	(1,773)	(536)	1,851	489	2,547
Benefit plan adjustments, net of tax	478	478	471	474	1,734	474
Release stranded tax effects			6,903				6,903
Cash dividends
Compensation expense
Common stock issued, net
Shares acquired, net
Balance	(32,462)	(32,055)	(30,760)	(25,102)	(27,427)	(29,650)	(32,462)	(25,102)
Treasury Stock [Member]
Balance	(23,485)	(24,005)	(23,677)	(23,199)	(23,388)	(24,205)	(23,677)	(24,205)
Net income (loss)
Translation adjustments
Benefit plan adjustments, net of tax
Release stranded tax effects
Cash dividends
Compensation expense
Common stock issued, net
Shares acquired, net	(15)	520	(328)	(514)	189	817
Balance	(23,500)	(23,485)	(24,005)	(23,713)	(23,199)	(23,388)	(23,500)	(23,713)
Noncontrolling Interest [Member]
Balance	513	520	619	543	481	646	619	646
Net income (loss)	27	6	41	28	63	13
Translation adjustments	16	(13)	(25)	(2)	(1)	(6)
Benefit plan adjustments, net of tax
Release stranded tax effects
Cash dividends			(115)			(172)
Compensation expense
Common stock issued, net
Shares acquired, net
Balance	$ 556	$ 513	$ 520	$ 569	$ 543	$ 481	$ 556	$ 569

Note M - Shareholders' Equity_3

Note M - Shareholders' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 29, 2019	Dec. 28, 2018	Sep. 28, 2018	Mar. 30, 2018	Dec. 29, 2017	Sep. 29, 2017	Mar. 29, 2019	Mar. 30, 2018
Balance	$ 181,843	$ 178,459	$ 143,616	$ 128,649	$ 130,080	$ 123,567	$ 143,616	$ 123,567
Translation adjustment during the quarter	(869)	(1,786)	(561)	1,849	488	2,541	(3,217)	4,878
Release stranded tax effects
Balance	186,642	181,843	178,459	135,610	128,649	130,080	186,642	135,610
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	4,776	6,549	7,085	9,166	8,677	6,130	7,085	6,130
Translation adjustment during the quarter	(885)	(1,773)	(536)	1,851	489	2,547
Release stranded tax effects
Amounts reclassified from accumulated other comprehensive income
Net current period other comprehensive (loss) income	(885)	(1,773)	(536)	1,851	489	2,547
Other comprehensive income before reclassifications
Balance	3,891	4,776	6,549	11,017	9,166	8,677	3,891	11,017
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance	(36,831)	(37,309)	(30,877)	(36,593)	(38,327)	(38,801)	(30,877)	(38,801)
Translation adjustment during the quarter
Release stranded tax effects			(6,903)
Amounts reclassified from accumulated other comprehensive income	478	478	471	474	39	474
Net current period other comprehensive (loss) income	478	478	(6,432)	474	1,734	474
Other comprehensive income before reclassifications					1,695
Balance	$ (36,353)	$ (36,831)	$ (37,309)	$ (36,119)	$ (36,593)	$ (38,327)	$ (36,353)	$ (36,119)

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						9 Months Ended
		Mar. 29, 2019	Dec. 28, 2018	Sep. 28, 2018	Mar. 30, 2018	Dec. 29, 2017	Sep. 29, 2017	Mar. 29, 2019	Mar. 30, 2018
Income tax expense		$ 1,442			$ 1,133			$ 3,780	$ 2,401
Net income		4,587	$ 4,079	$ 2,902	4,336	$ (4,050)	$ 3,404	11,569	3,690
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Actuarial losses	[1]	614			676			1,835	2,121
Transition asset and prior service benefit	[1]	10			10			29	30
Total amortization		624			686			1,864	2,151
Income tax expense		146			212			437	1,164
Net income		$ 478			474			$ 1,427	2,682
Other benefit plan adjustments									$ (1,695)
[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 and Other Operating Income (Details Textual) $ in Thousands	Mar. 04, 2019USD ($)	Mar. 29, 2019USD ($)	Mar. 30, 2018USD ($)	Mar. 29, 2019USD ($)	Mar. 30, 2018USD ($)	Mar. 29, 2019USD ($)	Jul. 02, 2018USD ($)
Restructuring Charges, Total		$ 131	$ 452	$ 738	$ 2,501	$ 10,011
Restructuring and Related Cost, Number of Positions Eliminated						176
Proceeds from Sales of Business, Affiliate and Productive Assets				5,158
Veth Propulsion [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High							$ 3,700
Business Combination, Contingent Consideration, Liability, Total		2,320		2,320		$ 2,320
Other Operating Income (Expense) [Member] | Veth Propulsion [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		(492)		(492)
Mill Log Business [Member] | Discontinued Operations, Disposed of by Sale [Member]
Disposal Group, Including Discontinued Operation, Operating Income (Loss)		(1,968)	$ 421	(1,636)	$ 901
Disposal Group, Including Discontinued Operation, Inventory	$ 6,298
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Current	495
Disposal Group, Including Discontinued Operation, Consideration	7,658
Proceeds from Sales of Business, Affiliate and Productive Assets	5,158
Disposal Group, Including Discontinued Operation, Consideration, Receivable	$ 2,500
Mill Log Business [Member] | Discontinued Operations, Disposed of by Sale [Member] | Other Operating Income (Expense) [Member]
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax, Total		$ 865		$ 865

Note N - Restructuring of Ope_4

Note N - Restructuring of Operations and Other Operating Income - Roll-forward of Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		46 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019
Accrued restructuring liability			$ 90
Additions during the year	$ 131	$ 452	738	$ 2,501	$ 10,011
Payments and adjustments during the year			(800)
Accrued restructuring liability	$ 28		$ 28		$ 28

Note O - Earnings Per Share (De

Note O - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	129,100	179,100	129,100	179,100
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	184,300	237,700	184,300	237,700
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	33,100		16,200
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,200	5,400	3,200	5,400

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						9 Months Ended
	Mar. 29, 2019	Dec. 28, 2018	Sep. 28, 2018	Mar. 30, 2018	Dec. 29, 2017	Sep. 29, 2017	Mar. 29, 2019	Mar. 30, 2018
Basic:
Net income	$ 4,587	$ 4,079	$ 2,902	$ 4,336	$ (4,050)	$ 3,404	$ 11,569	$ 3,690
Less: Net earnings attributable to noncontrolling interest	(27)			(28)			(75)	(104)
Less: Undistributed earnings attributable to unvested shares	(59)			(98)			(166)	(86)
Net income available to Twin Disc shareholders	$ 4,501			$ 4,210			$ 11,328	$ 3,500
Weighted average shares outstanding - basic (in shares)	12,914			11,313			12,437	11,289
Basic Income Per Share:
Net income per share - basic (in dollars per share)	$ 0.35			$ 0.37			$ 0.91	$ 0.31
Diluted:
Net income	$ 4,587	$ 4,079	$ 2,902	$ 4,336	$ (4,050)	$ 3,404	$ 11,569	$ 3,690
Less: Net earnings attributable to noncontrolling interest	(27)			(28)			(75)	(104)
Less: Undistributed earnings attributable to unvested shares	(59)			(98)			(166)	(86)
Net income available to Twin Disc shareholders	$ 4,501			$ 4,210			$ 11,328	$ 3,500
Weighted average shares outstanding - basic (in shares)	12,914			11,313			12,437	11,289
Effect of dilutive stock awards (in shares)	232			31			215	31
Weighted average shares outstanding - diluted (in shares)	13,146			11,344			12,652	11,320
Diluted Income Per Share:
Net income per share - diluted (in dollars per share)	$ 0.34			$ 0.37			$ 0.90	$ 0.31

Note P - Lease Liabilities (Det

Note P - Lease Liabilities (Details Textual) - USD ($) $ in Thousands	Mar. 29, 2019	Jun. 30, 2018
Operating Lease, Right-of-Use Asset	$ 13,333	$ 6,527
Operating Lease, Liability, Total	$ 13,325	$ 6,527

Note P - Lease Liabilities - Co

Note P - Lease Liabilities - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Operating lease cost	$ 872	$ 601	$ 2,603	$ 1,900
Short-term lease cost	1	(17)	23	34
Variable lease cost	11	1	16	4
Total lease cost	884	585	2,642	1,938
Less: Sublease income	(2)	(27)	(18)	(177)
Net lease cost	$ 882	$ 558	$ 2,624	$ 1,761

Note P - Lease Liabilities - Ot

Note P - Lease Liabilities - Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 29, 2019	Mar. 30, 2018	Mar. 29, 2019	Mar. 30, 2018
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases	$ 824	$ 662	$ 2,548	$ 1,863
Right-of-use-assets obtained in exchange for lease obligations: Operating leases	$ 380	$ 206	$ 12,453	$ 1,648
Weighted average remaining lease term (years): Operating leases (Year)	11 years 255 days	5 years 255 days	11 years 255 days	5 years 255 days
Weighted average discount rate: Operating leases	7.70%	6.80%	7.70%	6.80%

Note P - Lease Liabilities - Fu

Note P - Lease Liabilities - Future Minimum Rental Commitments Under Noncancellable Leases (Details) - USD ($) $ in Thousands	Mar. 29, 2019	Jun. 30, 2018
2019	$ 755
2020	2,754
2021	2,081
2022	1,546
2023	1,400
Thereafter	12,232
Total future lease payments	20,768
Less: Amount representing interest	(7,443)
Operating Lease, Liability, Total	$ 13,325	$ 6,527