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Transcat Inc. (symbol: TRNS) is a premier provider of accredited calibration, repair, inspection, and compliance services, serving a broad range of industries. Headquartered in the United States, with 20 strategically positioned centers of excellence in the U.S., Canada, and Puerto Rico, Transcat is well-known for delivering precise services with dependable turnaround times.
Transcat's core business revolves around offering calibration and laboratory instrumentation services. With ISO/IEC 17025 scopes of accreditation among the best in the industry, the company caters to life sciences, biotechnology, medical devices, pharmaceuticals, and other FDA-regulated sectors. It also supports industrial manufacturing, energy, utilities, and chemical manufacturing industries.
The company's operations are divided into two primary segments: Service and Distribution. The Service segment, which constitutes the majority of Transcat's revenue, focuses on calibration and laboratory services. The Distribution segment markets and distributes high-quality handheld test, measurement, and control instrumentation. Transcat's portfolio includes calibration instruments, dimensional measuring tools, electrical test instruments, and pressure measurement devices, among others. The firm sells products from well-known brands such as Estech, FLIR, Fluke, Keysight, and Megger.
Recent achievements include expanding its capabilities to address a broader range of measurement parameters, reinforcing its position as a leader in the field. Transcat’s commitment to innovation and excellence is evident in its ongoing projects and partnerships aimed at enhancing service delivery and broadening its product offerings.
Transcat reported impressive financial results for its fourth quarter and fiscal year ending March 27, 2021, achieving record revenue of $48.8 million, a 6.6% increase year-over-year. The Service segment saw a 15.8% revenue growth, contributing $29 million. Gross profit rose 15.9% to $14 million, with a gross margin increase to 28.6%. Operating income grew by 20.6% to $4.5 million. Cash flow from operations reached a record $23.6 million. Despite a 4.6% decline in Distribution sales, the company anticipates continued growth in fiscal 2022 due to a strong pipeline and infrastructure investments.
Transcat, Inc. (Nasdaq: TRNS) announced the additions of Craig D. Cairns and Mbago M. Kaniki to its Board of Directors, effective May 12, 2021. Their appointments fill vacancies from prior retirements. Cairns, with over 25 years of investment experience, is the majority owner of Howe & Rusling, while Kaniki has extensive leadership experience in investment and management. Both bring valuable expertise in client relations, capital allocation, and strategic growth. This leadership change aims to bolster Transcat's operational effectiveness in the highly regulated industries it serves.
Transcat, Inc. (Nasdaq: TRNS) announced it will release its fourth quarter and fiscal year 2021 results on May 18, 2021, after market close. The company will host a conference call on May 19, 2021, at 11:00 a.m. ET to discuss its financial performance and corporate strategy. Transcat provides accredited calibration, repair, and inspection services across various industries, with a focus on life sciences, aerospace, and utilities. Its dual operating segments enhance its service and distribution capabilities, aiming for organic growth and market expansion through acquisitions.
Transcat, Inc. (Nasdaq: TRNS) will present at the Sidoti Spring 2021 Virtual Conference on March 24, 2021, with CEO Lee D. Rudow and CFO Mark A. Doheny leading the discussion. The presentation is scheduled for 10:45 a.m. Eastern Time, and a live webcast will be accessible on the company's investor relations page at www.transcat.com/investor-relations. A replay will be available for 90 days. Transcat specializes in calibration, repair, and inspection services, focusing on regulated industries such as Life Sciences and Aerospace.
Transcat, Inc. (Nasdaq: TRNS) reported its Q3 fiscal 2021 results, showing resilience amid the COVID-19 pandemic. The Service segment grew revenue by 12.2%, with a gross margin increase of 590 basis points year-over-year. Consolidated revenue rose 2.0% to $44.1 million, largely driven by strong organic growth of 5.9% in the Service segment. Despite a decline in the Distribution segment, overall operating income reached $2.5 million, up 20% from the previous year, reflecting solid performance and strategic acquisitions.
Transcat, Inc. (Nasdaq: TRNS) will announce its third quarter fiscal year 2021 results after the market close on February 2, 2021. A conference call is scheduled for February 3, 2021, at 11:00 a.m. ET to discuss the financial outcomes and corporate strategies, with a subsequent Q&A session. The Company, a leader in calibration, repair, and inspection services, focuses on highly regulated industries, including Life Sciences, aerospace, and utilities. Its dual operating segments aim to drive organic sales growth and expand through acquisitions.
Transcat, Inc. (Nasdaq: TRNS) has acquired substantially all assets of BioTek Services, Inc. for $3.5 million, effective December 16, 2020. BioTek, based in Richmond, VA, specializes in laboratory instrument calibration and certification, generating approximately $2.1 million in annual revenue. This acquisition aligns with Transcat's growth strategy, enhancing its Life Science division and expanding market reach, particularly in the pipettes market. The integration of BioTek's capabilities is expected to drive growth, leveraging previous acquisitions for a stronger national presence.
Transcat, Inc. (Nasdaq: TRNS) has appointed Mark A. Doheny as its new Chief Financial Officer, succeeding Michael J. Tschiderer, who will retire at the year's end. Doheny brings over 20 years of financial management experience, including roles at Wheelabrator Technologies and Eaton Corporation, focusing on M&A and strategic planning.
This leadership change aims to accelerate Transcat's growth strategy and enhance profitability, particularly in its calibration service business. The Company continues to position itself as a leader in providing calibration and inspection services across regulated industries.
Transcat, Inc. (Nasdaq: TRNS) reported its second-quarter fiscal 2021 results, revealing a 4.5% increase in Service revenue to $24.6 million and a 10% rise in gross profit to $11.5 million. The Service segment achieved a gross margin of 32.2%, its second-highest ever. However, Distribution sales fell by 6.6% to $17.1 million, impacted by the COVID-19 pandemic. Overall revenue saw a minor decline of 0.4%. The company generated $12.5 million in cash from operations, funding debt repayment and technology investments, while net income dropped by 14.9% to $2 million. Outlook remains cautiously optimistic.
Transcat, Inc. (Nasdaq: TRNS) will release its second quarter fiscal year 2021 results after markets close on October 27, 2020. A conference call is scheduled for October 28, 2020, at 11:00 a.m. ET, where financial and operational results will be discussed along with corporate strategy. The call will include a question-and-answer session. Transcat provides accredited calibration, repair, and inspection services across various industries, including Life Sciences, aerospace, and energy. The company aims to drive organic growth and expand its calibration market through acquisitions and investments.
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