Transcat Operating Income Increases 49% on 8% Revenue Growth for Fiscal 2019 Second Quarter
ROCHESTER, NY, October 23, 2018 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, today reported financial results for its second quarter ended September 29, 2018 (the “second quarter”) of fiscal year 2019, which ends March 30, 2019 (“fiscal 2019”). Reported results include one month of the acquisition of substantially all of the assets of Angel’s Instrumentation, Inc. (“Angel’s”) effective August 31, 2018. Lee D. Rudow, President and CEO, commented, “Our second quarter performance demonstrates the solid execution of our strategic plan. As expected, both of our operating segments turned in solid results with strong organic revenue growth. We were especially pleased with the 9% organic revenue growth we achieved in our U.S. operations Service segment. And, when combined with our inherent operating leverage, we measurably enhanced our profitability. We are also encouraged with the early results and outlook from our Angel’s acquisition, which broadens our geographic footprint and enhances our Service value proposition.”