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Transcat Sales Flat in Second Quarter

Sales by the test/measurement instrument distributor were boosted by wind energy-related sales.

Rochester, NY-based Transcat, Inc. (Nasdaq: TRNS), a global distributor of professional grade handheld test and measurement instruments and provider of calibration, repair services, parts inspection and production model engineering, reported sales for its second quarter ended Sept. 26, 2009, were $18.5 million, flat from the year before. Second-quarter results included six weeks of recently acquired Westcon Inc.
 
Profit was $0.2 million.
 
The company reported most product segments were soft, but sales to wind energy customers helped to mitigate those results.
 
Service segment revenue, which represented 35.3% of total revenue, was up 15.5% to $6.5 million in the second quarter of fiscal 2010, when compared with revenue of $5.7 million in the prior year second quarter.
 
Product segment sales, representing the company’s distribution business, for the second quarter of fiscal 2010 were $12 million, down $1.0 million, or 7.6%, when compared with the prior-year period.
 
Through its product segment, Transcat markets and distributes national and proprietary brand instruments to over 13,000 customers. The company offers access to more than 25,000 test and measurement instruments. The product segment uses direct marketing and Web site to market to end-users and resellers.
 
Sales for the first six months of fiscal 2010 were $35.7 million, down 2.1%.
 
Product segment net sales were $23.2 million in the first half of fiscal 2010, down 8%. Service segment net was $12.5 million in the first six months of fiscal 2010, up 11.4%.
 
Net income was $0.1 million for the first six months of fiscal 2010.

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