Transcat Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 24, 2016. For the quarter, the company reported service revenue of $17,455,000 against $13,922,000 a year ago. Total revenue was $37,813,000 against $30,160,000 a year ago. Operating income was $2,353,000 against $1,682,000 a year ago. Income before income taxes was $2,165,000 against $1,682,000 a year ago. Net income was $1,280,000 or $0.18 per basic and diluted share against $1,068,000 or $0.15 per basic and diluted share a year ago. Adjusted EBITDA was $3,901,000 against $2,647,000 a year ago. Capital expenditure was $1.6 million.

For the nine months, the company reported service revenue of $51,577,000 against $41,647,000 a year ago. Total revenue was $105,445,000 against $89,306,000 a year ago. Operating income was $5,369,000 against $4,079,000 a year ago. Income before income taxes was $4,822,000 against $3,886,000 a year ago. Net income was $3,010,000 or $0.42 per diluted share against $2,547,000 or $0.36 per diluted share a year ago. Net cash provided by operating activities was $3,874,000 against $7,403,000 a year ago. Purchase of property and equipment was $4,104,000 against $3,755,000 a year ago. Adjusted EBITDA improved 46.5% to $10.3 million. At December 24, 2016, the company had total debt of $26.2 million, with $12.9 million available under its secured revolving credit facility. Capital expenditures were $4.1 million for the year-to-date period, respectively.

The company provided capital expenditure guidance for the fiscal year 2017. For the year, the company continues to expect capital expenditures will be approximately $5.0 million to $5.5 million in fiscal 2017.