Revenue for test, measurement and calibration instruments distributor Transcat decreased 3.6%, from from $17.9 million to $17.2 million for the first quarter of its fiscal 2010, which ended June 27.
The company’s calibration services segment revenue, which represented 35% of total net revenue, rose 7.2%, to $5.9 million in the first quarter of fiscal 2010. Sales of Transcat’s distribution products segment for the first quarter were $11.3 million, down $1.0 million, or 8.5%, when compared with the same period of the last year.
First-quarter sales include those from Westcon, which Transcat acquired for about $7.2 million in August 2008. The company has fully integrated Westcon into its operations, according to a financial release.
Transcat president/CEO Charles P. Hadeed said in a statement: “Our first quarter results reflect the impact of the current recessionary economic environment, although we believe much less than most other businesses. The impact was readily apparent in our product segment, where many of our customers have delayed, reduced or eliminated purchases in addressing their own business situations.
Hadeed noted that “although we had a reduction in our average product sales per customer, at the same time we increased our customer base. We believe this is highly indicative of a slowdown in spending by our customers while we continue to gain market share.”