Transcat, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 24, 2022
January 30, 2023 at 04:05 pm
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Transcat, Inc. reported earnings results for the third quarter and nine months ended December 24, 2022. For the third quarter, the company reported revenue was USD 57.4 million compared to USD 50.9 million a year ago. Net income was USD 1.6 million compared to USD 1.63 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to USD 0.22 a year ago. Diluted earnings per share from continuing operations was USD 0.21 compared to USD 0.21 a year ago.
For the nine months, revenue was USD 168.5 million compared to USD 149.08 million a year ago. Net income was USD 7.03 million compared to USD 8.33 million a year ago. Basic earnings per share from continuing operations was USD 0.93 compared to USD 1.11 a year ago. Diluted earnings per share from continuing operations was USD 0.92 compared to USD 1.1 a year ago.
Transcat, Inc. is a provider of accredited calibration services, cost control and optimization services, and distribution and rental of value-added professional grade handheld test, measurement, and control instrumentation. The Company is focused on providing services and products to highly regulated industries, particularly the life science industry, which includes pharmaceutical, biotechnology, medical device and other FDA-regulated businesses. Through its Service segment, it offers calibration, repair, inspection, analytical qualifications, preventative maintenance, consulting and other related services, a majority of which are processed through its asset management system, CalTrak, and its online customer portal, C3. It also provides permanent and periodic onsite services, mobile calibration services, pickup and delivery and in-house services. Through its Distribution segment, it sells and rents national and proprietary brand instruments to customers globally.