Transcat jumps 21% on higher first-quarter revenues
Professional grade test and measurement instruments provider Transcat Inc. (Nasdaq:TRNS) is up 21% today after reporting after Thursday’s close a jump in its first quarter revenue. For the quarter ended June 28, revenues were $17.9 million up from $16.2 million a year earlier. Net income was flat compared to a year ago at $0.2 million or $0.03 per share, the company said.
"New product introductions from our strategic vendor partners and strong growth in international product sales drove our double digit sales expansion this quarter,” said president, CEO and COO Charles Hadeed, in a statement.
In today’s trading, shares of the Rochester, N.Y.-based company are at $7.55 at 3:10 p.m. ET, up $1.30 from Thursday’s close. Trading volume is almost six times the average number of shares.
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