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."

More from Stocks

REPLAY: Jim Cramer on How to Navigate the Stock Market Amid Tariff Worries

REPLAY: Jim Cramer on How to Navigate the Stock Market Amid Tariff Worries

Jim Cramer: 4 Stocks Could Get Throttled By a 'Knock Down Drag Out' With China

Jim Cramer: 4 Stocks Could Get Throttled By a 'Knock Down Drag Out' With China

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

Why Starbucks Latest Data Reveal Should Worry Investors

Why Starbucks Latest Data Reveal Should Worry Investors