That sounds a little low...but it could be a few things. Leaky tester, not screwed in all the way, engine not warm ect... could cause an incorrect reading. HOw many cranks did you give it, or was that max?
The main thing you want is that there isn't a large difference between cylinders. FWIW, this is how I have always compression tested...
Get motor warm (i know it's a pita with hot headers, but the motor really needs to be warm)
Prop open TB blades (I don't always do this, but for best results it should be done)
crank the motor over and find the highest psi you can get. Take note about how many cranks it takes to get that PSI.
If you get a low PSI, try squirting oil down the cyl bore. If compression goes up afterwards, it's a worn ring/ring seal problem.