This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Transcat Reports 25% Increase In Net Income On Record Net Revenue For Fiscal 2011 Fourth Quarter

Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading distributor of professional grade handheld test and measurement instruments and accredited provider of calibration, repair and other measurement services, today reported financial results for its fiscal 2011 fourth quarter ended March 26, 2011. Included are the results of the calibration and repair services business of ACA TMetrix Inc. (“TMetrix”), which the Company acquired on November 1, 2010, and those of Wind Turbine Tools, Inc. (“Wind Turbine Tools”), a premier provider of products and services to the wind energy industry, which the Company acquired effective January 11, 2011.

Net revenue in the fourth quarter of fiscal 2011 was $25.8 million, an increase of 9.4% compared with net revenue of $23.5 million in the fourth quarter of fiscal 2010. Product segment net sales were $16.9 million for the fourth quarter of fiscal 2011, an increase of 14.5% compared with $14.7 million in the same period of the prior fiscal year. Service segment net revenue, which represented 34.6% of total net revenue, increased 1.0% to $8.9 million in the fourth quarter of fiscal 2011 compared with $8.8 million in the prior fiscal year fourth quarter.

Net income was $1.1 million, or $0.14 per diluted share, in the fourth quarter of fiscal 2011, up 25.0%, or $0.2 million, from net income of $0.9 million, or $0.12 per diluted share, in the same period of the prior fiscal year. The growth in net income was driven by a 67.0% increase in operating profits in the Company’s Product segment.

Charles P. Hadeed, President, CEO and COO of Transcat, commented, “We delivered our sixth consecutive record quarter as our Product segment grew more than 14 percent reflecting continued market penetration as a result of expanding our vendor and product portfolio and enhanced marketing activities. The Service segment growth for the quarter did not meet our expectations, but we are encouraged with the direction of that business which, in combination with our recent acquisition activity, should provide additional future growth opportunities.”

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs