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earnings slip

Transmation sales jump,
earnings slip

Transmation Inc. saw record sales in its second quarter, bolstered by a major acquisition last spring. Profits dipped, however.
The company today reported $19.6 million in sales for the quarter ended Sept. 30. Earnings were $264,800, or 4 cents a share, compared with $315,800, or 6 cents a share, on sales of $11.2 million a year ago.
For the six months ended Sept. 30, net income totaled $506,400, or 8 cents a share, on record sales of $38.7 million. In the first half of fiscal 1997, the company earned $619,700, or 11 cents a share, on sales of $22.2 million.
The earnings per share figures were adjusted for the effect of a 2-for-1 stock split in July.
The report had no impact on the company stock, which was unchanged and trading at $8.38 a share.
“We are pleased with the increase in sales,” said Robert Klimasewski, president and CEO. “Sales were up 75 percent for the quarter and 74 percent for the first six months.”
He credited the acquisition of the assets of the sales and service division of E.I.L. Instruments Inc. for the sales gain.
Transmation became the leader of the process-control industry with its purchase of the Baltimore-based competitor in April.
Officials said the company spent the second quarter continuing the assimilation and integration of the acquired company into its operations.
“We believe operations at Transcat/EIL have stabilized, and we can now focus our attention on further sales growth and enhanced profitability,” Klimasewski said.
Transmation’s Instrument division and its Altek subsidiary have continued to perform well despite softness in some world markets, company officials said.
Transmation is a business-to-business distributor, servicer and manufacturer of test, measurement and calibration instrumentation used in the monitoring and maintenance of industrial processes.

Transmation sales jump,
earnings slip

Transmation Inc. saw record sales in its second quarter, bolstered by a major acquisition last spring. Profits dipped, however.
The company today reported $19.6 million in sales for the quarter ended Sept. 30. Earnings were $264,800, or 4 cents a share, compared with $315,800, or 6 cents a share, on sales of $11.2 million a year ago.
For the six months ended Sept.

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