Transcat, Inc. (NASDAQ:TRNS) Q2 2024 Earnings Call Transcript

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So we know it’s working and will continue to work. What inning are we in? If I had to characterize it, I used to say we’re the first, second inning. We’re probably in the fifth inning of that game that we’ve progressed from the first, second, third inning to the fifth inning. There’s still plenty of work to do. Robotics is a subset of that, you know, the Irish company we bought is a robotics company. And we are now doing mass calibrations for example in Philadelphia in our LA labs, we have two robots in each lab. In Ireland, that robotics team, they’re now working on digital multi-meters, and I think on deck is temperature and pressure after that. So, again not a fast process, but robotics is actually faster than traditional automation. And like I said, we’ve already got robots running.

And so, these are things that are going to help us get to that high 30s from the mid-30s and beyond. And that’s our ultimate goal. So we’re pleased with that progress. The Irish market itself, as far as developing it, for the calibration business, we bought that very, very small company, we’ve got some interesting plans in the works to try to grow that organically. It’s really early for us to get into too many details on that. But we intend on growing our calibration business in the Irish market. And really kind of exclusively in the Irish market as far as Europe because that’s where our cal lab is, that’s where we’ll do work, and that’s where we’ll grow organically. Unlike the NEXA business that’s more scalable throughout Europe, because it’s just easier to grow that business and to follow our customers throughout the European footprint, calibration will be in Ireland.

And you know, it’s early days there, but we intend on growing it organically for sure. Hope that — I hope that’s helpful, Ted.

Ted Jackson: It was. Thanks very much.

Operator: There are no more questions in the queue. I would like to turn the conference back over to management for closing comments.

Lee Rudow: Okay. Well, this is Lee, and thank you all for joining us on the call today. We appreciate your continued interest in Transcat. As always, we’ll be participating in the ROTH and the Craig-Hallum conferences in New York City on November 15th and November 16th. So feel free to check in on us there. If not, you’re always welcome to check in on us anytime. We look forward to talking to everybody. And if we don’t hear from you, we’ll talk to everybody after we have our third quarter results. Thanks again for participating in today’s call.

Operator: Thank you. This will conclude today’s conference. You may disconnect your lines at this time. And thank you for your participation.

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