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CPAC, Transmation best selves

Two local manufacturers–CPAC Inc. and Transmation Inc.–turned in best-ever earnings and sales today for the quarter ended June 30.
CPAC reported first-quarter profits of $1.8 million, or 24 cents a share–a 59 percent gain over a year ago.
Sales also reached record heights for the Leicester manufacturer of imaging, cleaning and personal-care products. The firm pulled in $22.5 million in sales, compared with $21.5 million during the first quarter of 1996.
“The addition of chemical contracts, as well as private-label manufacturing of hard goods specific to the cleaning industry, resulted in increased volumes and production efficiencies in both segments,” CEO Thomas Hendrickson said.
Midday, CPAC stock was trading in the $10.50 range, up from a 52-week low of $9.25 last month.
At Transmation, net income jumped 50 percent to $303,900, or 11 cents a share. The firm manufactures equipment used to monitor industrial processes.
Sales for the quarter hit a highest-ever $11 million, a 15 percent hike over last year.
“Our Transcat distribution division and recently acquired Altek subsidiary each performed well in the first quarter,” President Robert Klimasewski said. “The financial performance by our instrument division’s test and calibrator product lines was less than planned. Organizational changes and aggressive new product efforts should improve future performance.”
Transmation stock was trading on the NASDAQ exchange today at $8.50.
Shareholder meetings for both Transmation and CPAC are set for next month. CPAC’s annual meeting is scheduled for Aug. 7 at the Genesee River Hotel in Mount Morris. Transmation will hold its annual meeting on Aug. 20 at noon at the Hutchinson House in Rochester.

CPAC, Transmation best selves

Two local manufacturers–CPAC Inc. and Transmation Inc.–turned in best-ever earnings and sales today for the quarter ended June 30.
CPAC reported first-quarter profits of $1.8 million, or 24 cents a share–a 59 percent gain over a year ago.

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