Industry Headlines

Transcat Posts Higher Revenues, Net Income

Transcat Inc.’s net income increased just more than 14% while revenue rose some 19% for the fiscal 2012 third quarter.

Net income increased to $1 million, or 13 cents a diluted share, up from $900,000, or 12 cents a diluted share, a year ago. The increase was driven by higher operating profits in Transcat’s product segment, officials said.

Transcat logged net revenue of $28.5 million, up from $23.9 million in the third quarter fiscal 2011. Product net sales rose 17 percent to $19.4 million, while service net sales increased 24 percent to $9.1 million.

The Ogden-based service provider and distributor of calibration and measurement instruments announced its results Monday afternoon after the market closed. The company’s stock was up 1% midday Tuesday at $11.31.

“Our growth strategy was clearly demonstrated in this quarter,” says President and CEO Charles Hadeed. “Winning new business, leveraging existing relationships and strategic acquisitions all contributed to both top-line growth and a significant increase in operating income.”

Transcat’s gross profit was $6.8 million, up from $6.1 million.

Total operating expenses in the third quarter rose 11.3% to $5.1 million. The increase reflected higher employee compensation and acquisition-related expenses. Though the company said lower marketing costs related to direct mail campaigns helped offset the increases.

For the first nine months of fiscal 2012, Transcat’s net revenue increased to $79.2 million, up 21.1%. Net income was $2.1 million, or 27 cents a diluted share, up from $1.7 million, or 23 cents a diluted share during the prior fiscal year.

“Our strong balance sheet keeps us well positioned to broaden our capabilities and expand our market reach,” Hadeed says. “We will continue to explore opportunities that fit our business model and recognize that successful integration of those strategic acquisitions into our existing business remains an integral driver of our growth.”

Did you enjoy this article? Click here to subscribe to Quality Magazine. 

You must login or register in order to post a comment.




Karen Spencer, Clinkenbeard's quality manager, discusses what makes the plant stand out, advice for other plants, and looks to the future.
More Podcasts

Quality Magazine


2015 May

The May 2015 edition of Quality Magazine includes articles on cloud technologies, depth gages, ISO 9001, digital inspection and cool new products.

Table Of Contents Subscribe

Topics to Talk About

What topics would you like to see Quality cover more?
View Results Poll Archive

Clear Seas Research

qcast_ClearSeas_logo.gifWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Facebook2015_40 twitter_40px.png  youtube_40px.pnglinkedin_40px.png  GooglePlus_40