Looks like a hand-held tachometer. The cone pointed end can be put on and held in the center drilled hole of a spinning shaft and you use the counter to count the revolutions for 1 minute. The other end you hold against the outer diameter of a spinning round part and using math and the diameters of the shaft and the tachometer and how many revolutions it the tachometer spins in 1 minute it will tell you the RPM of the shaft......