Transcat reports Q3 EPS 45c, consensus 50c

Reports Q3 revenue $66.8M, consensus $70.3M. “In the 3rd quarter, we were pleased to close the Martin Calibration deal. Martin is a coveted calibration company that is highly synergistic and fulfills all our strategic acquisition drivers by expanding our geographic reach, increasing our capabilities and leveraging our existing infrastructure” commented Lee D. Rudow, President and CEO. “Martin’s size, with revenue in excess of $25 million, and reputation for quality and customer satisfaction, makes it the perfect addition to the Transcat (TRNS) family. Service organic revenue was below our historical trends and significantly impacted by the timing of this year’s Christmas holiday. Last year, the Christmas holiday fell in the first week of our fiscal fourth quarter. We typically see an acceleration of activity in the last two weeks of each quarter, but this year many of our customers closed facilities or had significantly reduced staffing levels, which limited the volume of incoming equipment throughout the month. That said, we are seeing higher activity levels in January, which we believe is in part, the receipt of units which we expected to receive in December.”