Transcat Earnings Fall
Transcat (TRNS) said first-quarter earnings fell despite a 10% sales gain.
For the quarter ended June 24, the Rochester, N.Y., test-gear company made $116,000, or 2 cents a share, down from the year-ago $174,000, or 3 cents a share. Revenue rose to $15.5 million from $14.1 million a year earlier.
Distribution products sales rose 12.3% from a year ago to $10.5 million, while calibration services sales rose 6.5% to $5 million.
Transcat said calibration services growth, excluding its recent N.W. Calibration Inspection acquisition, "is short of our expectations, and we are making changes in our selling processes to improve our growth rate in this segment."
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