Transcat Inc. on Monday reported a second-quarter profit flat with a year ago with increased revenues for its fiscal second quarter.
The Ogden-based service provider and distributor of calibration and measurement instruments reported a net income of $700,000, or 10 cents a diluted share, for the fiscal quarter ended Sept. 29, which was on par with the same period a year ago.
Transcat logged revenues of $26.8 million, up 6.4 percent from $25.2 million a year ago. The company attributed overall revenue growth to service segment growth of nearly 20 percent, which was driven by organic and acquisition-related revenue. Product segment sales remained consistent at $16.9 million.
Transcat’s operating income for the quarter was $1.2 million, down slightly, while its operating expenses were $4.9 million, also down slightly from last year.
“Our revenue growth in the second quarter, against fairly challenging economic headwinds and prior year comparables, demonstrates the effectiveness of our strategy to take market share in our service segment both organically and through acquisitions,” said CEO Charles Hadeed, in a statement.
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