Boston, MA 05/23/2013 (wallstreetpr) – The share prices of Transcat Inc. (NASDAQ:TRNS) surged by 16.92 percent to close at $7.60 per share for the last trading session. This gain of $1.10 per share in the prices is due to the company’s recorded boost in the profits and revenues for the year. As per the full year results reported by Transcat Inc. (NASDAQ:TRNS) for the fiscal year 2013, the company had registered net income of $1.8 million or 24 cents per basic and diluted share.
Results for fiscal year 2013
The net income of Transcat Inc. (NASDAQ:TRNS) thus geared up from the previous year’s results of $1.2 million or 16 cents per basic and diluted share. The revenues for the company increased by one percent to $31.1 million from $30.8 million revenue for the previous year. The President and Chief Executive Officer of Transcat Inc. (NASDAQ:TRNS), Lee Rudow attributed the performance of the company for the fiscal year to key acquisitions made during the year. Such acquisitions also include the purchase of Anacor Compliance Services Inc., a Pennsylvania-based provider of specialized analytical, calibration, compliance and validation services in July 2012.
Transcat Inc. (NASDAQ:TRNS) is involved in the distribution of professional grade handheld test and measurement services and also provides services related to calibration and repair of equipments. The company operates in two major business segments namely distribution products and calibration services. Transcat Inc. (NASDAQ:TRNS) holds 7.42 million shares outstanding and has an institutional ownership of 56 percent of its holdings. The average trading volume for the company is at 7,262 shares per day.
