Transcat Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 26, 2015; Provides Financial Guidance for the Fiscal Year 2016
January 25, 2016 at 05:25 pm IST
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Transcat Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 26, 2015. For the quarter, the company reported total revenue of $30,160,000, operating income of $1,682,000, income before income taxes of $1,620,000, net income of $1,068,000, diluted earnings per share of $0.15 per diluted share, compared to the total revenue of $31,052,000, operating income of $1,377,000, income before income taxes of $1,294,000, net income of $813,000, diluted earnings per share of $0.11 per diluted share, for the same quarter a year ago. Total adjusted EBITDA was $2.6 million, a 12.5% improvement over the third quarter of fiscal 2015.
For the nine months period, the company reported total revenue of $89,306,000, operating income of $4,079,000, income before income taxes of $3,886,000, net income of $2,547,000, diluted earnings per share of $0.36 per diluted share, net cash provided by operating activities of $7,043,000, purchases of property and equipment of $3,755,000, compared to the total revenue of $91,282,000, operating income of $3,652,000, income before income taxes of $3,386,000, net income of $2,117,000, diluted earnings per share of $0.3 per diluted share, net cash provided by operating activities of $1,219,000, purchases of property and equipment of $2,709,000, for the same period a year ago. Adjusted EBITDA was $7.0 million, up 12.0% from $6.3 million for the same period in fiscal 2015.
The company had projected double-digit operating income growth, the company believe year-over-year operating income is likely to achieve flat to modest growth.
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.
Transcat Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 26, 2015; Provides Financial Guidance for the Fiscal Year 2016