Transcat Reports Strong First Quarter Results with Significant Gross Margin Expansion and EBITDA Growth
Transcat Inc. (Nasdaq: TRNS) reported strong Q1 fiscal 2025 results, with significant gross margin expansion and EBITDA growth. Key highlights include:
- Consolidated revenue up 10.1% to $66.7 million
- Gross profit increased 21.1% to $22.7 million
- Gross margin expanded 310 basis points to 34.0%
- Adjusted EBITDA grew 20.4% to $10.2 million
- Adjusted diluted EPS rose 30.8% to $0.68
The Service segment saw 9.8% revenue growth and 150 basis points margin expansion. The Distribution segment experienced 10.5% sales growth and 620 basis points margin improvement. Transcat expects high single-digit to low double-digit organic Service revenue growth for fiscal 2025.
Transcat Inc. (Nasdaq: TRNS) ha riportato risultati solidi per il primo trimestre dell'anno fiscale 2025, con un significativa espansione del margine lordo e crescita dell'EBITDA. I punti salienti includono:
- Ricavi consolidati in aumento del 10,1% a 66,7 milioni di dollari
- Il profitto lordo è aumentato del 21,1% a 22,7 milioni di dollari
- Il margine lordo è aumentato di 310 punti base, raggiungendo il 34,0%
- L'EBITDA rettificato è cresciuto del 20,4% a 10,2 milioni di dollari
- L'utile per azione diluito rettificato è salito del 30,8% a 0,68 dollari
Il segmento Servizi ha visto una crescita dei ricavi del 9,8% e un'espansione del margine di 150 punti base. Il segmento Distribuzione ha registrato una crescita delle vendite del 10,5% e un miglioramento del margine di 620 punti base. Transcat prevede una crescita organica dei ricavi del Servizio che si attesterà tra una cifra alta e una cifra bassa a due cifre per l'anno fiscale 2025.
Transcat Inc. (Nasdaq: TRNS) informó sobre resultados sólidos para el primer trimestre del año fiscal 2025, con una expansión significativa del margen bruto y crecimiento del EBITDA. Los aspectos destacados incluyen:
- Ingresos consolidados aumentaron un 10.1% a 66.7 millones de dólares
- El beneficio bruto aumentó un 21.1% a 22.7 millones de dólares
- El margen bruto se expandió en 310 puntos básicos alcanzando el 34.0%
- El EBITDA ajustado creció un 20.4% a 10.2 millones de dólares
- El EPS diluido ajustado aumentó un 30.8% a 0.68 dólares
El segmento de Servicios vio un crecimiento de ingresos del 9.8% y una expansión de margen de 150 puntos básicos. El segmento de Distribución experimentó un crecimiento de ventas del 10.5% y una mejora de margen de 620 puntos básicos. Transcat espera un crecimiento orgánico de los ingresos del Servicio en un rango de un dígito alto a un dígito bajo de doble cifra para el año fiscal 2025.
Transcat Inc. (Nasdaq: TRNS)는 2025 회계연도 1분기 강력한 실적을 발표했으며, 이는 총 마진 확장과 EBITDA 성장의 결과입니다. 주요 하이라이트는 다음과 같습니다:
- 통합 매출이 10.1% 증가하여 6670만 달러에 달함
- 총 이익이 21.1% 증가하여 2270만 달러에 도달함
- 총 마진이 310 베이시스 포인트 확장되어 34.0%에 도달함
- 조정 EBITDA가 20.4% 성장하여 1020만 달러에 도달함
- 조정 희석 EPS가 30.8% 증가하여 0.68달러에 도달함
서비스 부문은 9.8%의 매출 성장과 150 베이시스 포인트의 마진 확장을 경험했습니다. 유통 부문은 10.5%의 판매 성장과 620 베이시스 포인트의 마진 개선을 경험했습니다. Transcat은 2025 회계연도에 서비스 매출이 높은 단일 숫자에서 낮은 이중 숫자로 성장할 것으로 예상합니다.
Transcat Inc. (Nasdaq: TRNS) a annoncé de solides résultats pour le premier trimestre de l'exercice fiscal 2025, avec une expansion significative de la marge brute et une croissance de l'EBITDA. Les faits saillants incluent :
- Chiffre d'affaires consolidé en hausse de 10,1 % à 66,7 millions de dollars
- Le bénéfice brut a augmenté de 21,1 % pour atteindre 22,7 millions de dollars
- La marge brute s'est accrue de 310 points de base pour atteindre 34,0 %
- L'EBITDA ajusté a crû de 20,4 % pour s'établir à 10,2 millions de dollars
- Le BPA dilué ajusté a augmenté de 30,8 % pour atteindre 0,68 dollar
Le secteur des Services a connu une croissance des revenus de 9,8 % et une expansion de la marge de 150 points de base. Le secteur de la Distribution a connu une croissance des ventes de 10,5 % et une amélioration de la marge de 620 points de base. Transcat s'attend à une croissance organique des revenus des Services dans une fourchette de chiffres élevés à des chiffres faibles à deux chiffres pour l'exercice fiscal 2025.
Transcat Inc. (Nasdaq: TRNS) meldete starke Ergebnisse für das erste Quartal des Geschäftsjahres 2025, mit einer signifikanten Ausweitung der Bruttomarge und einem Wachstum des EBITDA. Die wichtigsten Highlights sind:
- Konsolidierte Einnahmen stiegen um 10,1% auf 66,7 Millionen US-Dollar
- Der Bruttogewinn stieg um 21,1% auf 22,7 Millionen US-Dollar
- Die Bruttomarge erweiterte sich um 310 Basispunkte auf 34,0%
- Der bereinigte EBITDA wuchs um 20,4% auf 10,2 Millionen US-Dollar
- Der bereinigte verwässerte EPS stieg um 30,8% auf 0,68 US-Dollar
Der Dienstleistungssektor verzeichnete ein Umsatzwachstum von 9,8% und eine Margenausweitung um 150 Basispunkte. Der Vertriebssektor erlebte ein Verkaufswachstum von 10,5% und eine Margenverbesserung von 620 Basispunkten. Transcat erwartet für das Geschäftsjahr 2025 ein organisches Umsatzwachstum im Dienstleistungsbereich im hohen einstelligen bis niedrigen zweistelligen Bereich.
- Consolidated revenue increased 10.1% to $66.7 million
- Gross profit grew 21.1% to $22.7 million
- Gross margin expanded 310 basis points to 34.0%
- Adjusted EBITDA increased 20.4% to $10.2 million
- Adjusted diluted EPS rose 30.8% to $0.68
- Service segment revenue grew 9.8% with 150 basis points margin expansion
- Distribution segment sales increased 10.5% with 620 basis points margin improvement
- Strong cash position with $22.7 million in cash and $80 million available for borrowing
- Operating expenses increased 24.8% due to acquisitions and higher employee costs
Insights
Transcat's Q1 FY2025 results demonstrate robust financial performance, with several key metrics showing significant improvement. Revenue grew 10.1% to
Particularly noteworthy is the substantial gross margin expansion of 310 basis points to
Adjusted EBITDA, a key profitability metric, grew 20.4% to
Transcat's balance sheet remains strong, with low leverage (0.08 ratio) and ample liquidity (
Overall, Transcat's Q1 results reflect a company executing well on its strategy, with strong organic growth, successful integration of acquisitions and ongoing margin improvements. The outlook for continued high single-digit to low double-digit organic Service revenue growth and further margin expansion is positive for investors.
Transcat's Q1 performance underscores its strong market position in the calibration services and test equipment distribution sectors. The company's focus on highly regulated end markets, particularly Life Science, Aerospace and Defense, is proving to be a sound strategy. These industries typically have stringent quality requirements and are less susceptible to economic fluctuations, providing Transcat with a stable revenue base.
The organic growth of 6.4% in the Service segment indicates market share gains and increasing demand for Transcat's services. This growth, combined with the company's acquisition strategy, is enabling Transcat to expand its addressable market and offer a wider range of services to its clients.
The significant growth in the rental business within the Distribution segment is noteworthy. This shift towards rentals aligns with broader industry trends, as many companies prefer the flexibility and cost-effectiveness of renting specialized equipment rather than purchasing it outright. Transcat's acquisitions in this area, such as Axiom and Becnel Rental Tools, appear to be well-timed to capitalize on this trend.
Transcat's emphasis on automation and productivity improvements in its calibration processes is important for maintaining its competitive edge. As the industry evolves, the ability to provide accurate, efficient and cost-effective calibration services will be a key differentiator.
The company's acquisition strategy, focusing on businesses that complement its core offerings and provide cross-selling opportunities, seems well-executed. The integration of these acquisitions and the resulting synergies are contributing to Transcat's strong financial performance.
Looking ahead, Transcat's robust and diverse acquisition pipeline, coupled with its focus on highly regulated markets and expanding rental business, positions the company well for continued growth in a specialized and growing market.
Transcat's Q1 results highlight the company's successful integration of technology into its business model, particularly in the realm of automation and productivity enhancements. The significant margin improvements across both Service and Distribution segments can be attributed, in part, to these technological advancements.
In the Service segment, the 150 basis point increase in gross margin to
The company's mention of "automation of our calibration processes" as a key enabler of future margin expansion is particularly noteworthy. This indicates an ongoing investment in cutting-edge calibration technologies that could further differentiate Transcat from competitors. Such automation not only improves efficiency but also enhances accuracy and repeatability, which are important in highly regulated industries like Life Sciences and Aerospace.
In the Distribution segment, the shift towards a stronger rental business model is also likely supported by sophisticated inventory management and logistics systems. The ability to efficiently track, maintain and deploy rental equipment is important for maximizing utilization and profitability.
Transcat's success in integrating acquired companies and realizing synergies suggests robust IT systems capable of seamlessly incorporating new business units. This technological backbone will be important as the company continues its acquisition-driven growth strategy.
Looking forward, Transcat's commitment to leveraging technology for operational excellence positions it well in an increasingly digital-centric industrial landscape. Continued investment in areas such as IoT for equipment monitoring, data analytics for predictive maintenance and possibly blockchain for secure calibration records could further solidify Transcat's market leadership.
-
Consolidated Gross Profit grew
21.1% on double-digit Revenue growth - Distribution gross margins expanded 620 basis points on strength of rentals
-
Service gross margins expanded 150 basis points on organic growth of
6.4% and improved productivity -
Consolidated adjusted EBITDA grew
20.4% with margins expanding 130 basis points
“We are pleased with our strong first quarter results as gross margins expanded 310 basis points versus prior year from increased Service productivity and growth in Rentals in the Distribution segment. Consolidated revenue was up
Mr. Rudow added, “Transcat’s positive acquisition momentum continued in the first quarter with the purchase of Becnel Rental Tools. Becnel is a well-run business that has cultivated strong customer relationships, with companies which are high users of Transcat's core instrumentation and calibration services. Becnel differentiates our higher margin rental portfolio along with a growing operator-based service model and has already provided opportunities for cross-selling of Transcat’s products and services. Our growing, diversified portfolio enables strong performance when combined with our team’s commitment to execution points to a very bright future ahead for Transcat.”
First Quarter Fiscal 2025 Review
(Results are compared with the first quarter of the fiscal year ended March 30, 2024 (“fiscal 2024”))
($ in thousands) |
|
|
|
|
|
|
|
|
|
Change |
||||||
|
|
FY25 Q1 |
|
FY24 Q1 |
|
$'s |
|
% |
||||||||
Service Revenue |
|
$ |
43,778 |
|
|
$ |
39,853 |
|
|
$ |
3,925 |
|
|
|
9.8 |
% |
Distribution Sales |
|
|
22,929 |
|
|
|
20,745 |
|
|
|
2,184 |
|
|
|
10.5 |
% |
Revenue |
|
$ |
66,707 |
|
|
$ |
60,598 |
|
|
$ |
6,109 |
|
|
|
10.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
$ |
22,655 |
|
|
$ |
18,710 |
|
|
$ |
3,945 |
|
|
|
21.1 |
% |
Gross Margin |
|
|
34.0 |
% |
|
|
30.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
$ |
5,099 |
|
|
$ |
4,640 |
|
|
$ |
459 |
|
|
|
9.9 |
% |
Operating Margin |
|
|
7.6 |
% |
|
|
7.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ |
4,408 |
|
|
$ |
2,949 |
|
|
$ |
1,459 |
|
|
|
49.5 |
% |
Net Margin |
|
|
6.6 |
% |
|
|
4.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA* |
|
$ |
10,212 |
|
|
$ |
8,481 |
|
|
$ |
1,731 |
|
|
|
20.4 |
% |
Adjusted EBITDA* Margin |
|
|
15.3 |
% |
|
|
14.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted EPS |
|
$ |
0.48 |
|
|
$ |
0.38 |
|
|
$ |
0.10 |
|
|
|
26.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Diluted EPS* |
|
$ |
0.68 |
|
|
$ |
0.52 |
|
|
$ |
0.16 |
|
|
|
30.8 |
% |
*See Note 1 on page 5 for a description of these non-GAAP financial measures and pages 10, 11 and 12 for the reconciliation tables. |
Consolidated revenue was
Service segment delivers strong first quarter results
Represents the accredited calibration, repair, inspection and laboratory instrument services business (
($ in thousand) |
|
|
|
|
|
|
|
|
|
Change |
||||||
|
|
FY25 Q1 |
|
FY24 Q1 |
|
$'s |
|
% |
||||||||
Service Segment Revenue |
|
$ |
43,778 |
|
|
$ |
39,853 |
|
|
$ |
3,925 |
|
|
|
9.8 |
% |
Gross Profit |
|
$ |
14,883 |
|
|
$ |
12,971 |
|
|
$ |
1,912 |
|
|
|
14.7 |
% |
Gross Margin |
|
|
34.0 |
% |
|
|
32.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
$ |
4,090 |
|
|
$ |
3,192 |
|
|
$ |
898 |
|
|
|
28.1 |
% |
Operating Margin |
|
|
9.3 |
% |
|
|
8.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA* |
|
$ |
6,964 |
|
|
$ |
6,232 |
|
|
$ |
732 |
|
|
|
11.7 |
% |
Adjusted EBITDA* Margin |
|
|
15.9 |
% |
|
|
15.6 |
% |
|
|
|
|
|
|
|
|
*See Note 1 on page 5 for a description of this non-GAAP financial measure and pages 10 and 11 for the Adjusted EBITDA Reconciliation tables. |
Service segment revenue was
Distribution segment shows continued margin improvement
Represents the sale and rental of new and used professional grade handheld test, measurement and control instrumentation (
($ in thousands) |
|
|
|
|
|
|
|
|
|
Change |
||||||
|
|
FY25 Q1 |
|
FY24 Q1 |
|
$'s |
|
% |
||||||||
Distribution Segment Sales |
|
$ |
22,929 |
|
|
$ |
20,745 |
|
|
$ |
2,184 |
|
|
|
10.5 |
% |
Gross Profit |
|
$ |
7,772 |
|
|
$ |
5,739 |
|
|
$ |
2,033 |
|
|
|
35.4 |
% |
Gross Margin |
|
|
33.9 |
% |
|
|
27.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
$ |
1,009 |
|
|
$ |
1,448 |
|
|
$ |
(439 |
) |
|
|
(30.3 |
)% |
Operating Margin |
|
|
4.4 |
% |
|
|
7.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA* |
|
$ |
3,248 |
|
|
$ |
2,249 |
|
|
$ |
999 |
|
|
|
44.4 |
% |
Adjusted EBITDA* Margin |
|
|
14.2 |
% |
|
|
10.8 |
% |
|
|
|
|
|
|
|
|
*See Note 1 on page 5 for a description of this non-GAAP financial measure and pages 10 and 11 for the Adjusted EBITDA Reconciliation tables. |
Distribution sales were
Balance Sheet and Cash Flow Overview
On June 29, 2024, the Company had
Outlook
Mr. Rudow concluded, “We are proud of our dedicated team, which has delivered exceptional results through various economic cycles as can be seen over the past decade and a half of profitable growth. We have successfully and consistently delivered organic Service revenue growth, gross margin expansion, free cash flow, and expanded our addressable markets through acquisition. We believe our unique value proposition drives a sustainable competitive advantage in the highly regulated markets that we serve, particularly the Life Science, Aerospace, and Defense markets, along with a growing Rentals business. We expect another year of organic Service revenue growth in the high single-digit to low double-digit range when normalized for the extra week in fiscal 2024 and gross margin expansion. Automation of our calibration processes and overall productivity improvements will continue to be key enablers of future margin expansion. We will continue to leverage our expertise and proven track record of successful acquisitions to drive synergistic growth opportunities with a sharp focus on integration. Our robust and diverse acquisition pipeline enables strategic, accretive acquisitions that will be a key component of our go-forward strategy.”
Transcat expects its income tax rate to range between
Webcast and Conference Call
Transcat will host a conference call and webcast on Tuesday, July 30, 2024 at 11:00 a.m. ET. Management will review the financial and operating results for the first quarter, as well as the Company’s strategy and outlook. A question and answer session will follow the formal discussion. The review will be accompanied by a slide presentation, which will be available at www.transcat.com/investor-relations. The conference call can be accessed by calling (201) 689-8471. Alternatively, the webcast can be monitored at www.transcat.com/investor-relations.
A telephonic replay will be available from 2:00 p.m. ET on the day of the call through Tuesday, August 6, 2024. To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13747789, access the webcast replay at www.transcat.com/investor-relations, where a transcript will be posted once available.
NOTE 1 – Non-GAAP Financial Measures
In addition to reporting net income, a
In addition to reporting Diluted Earnings Per Share, a GAAP measure, we present Adjusted Diluted Earnings Per Share (net income plus acquisition related amortization expense, acquisition related transaction expenses, acquisition related stock-based compensation, acquisition amortization of backlog and restructuring expense; divided by the average diluted shares outstanding during the period), which is a non-GAAP measure. Our management believes Adjusted Diluted Earnings Per Share is an important measure of our operating performance because it provides a basis for comparison of our business operations between current, past and future periods by excluding items that we do not believe are indicative of our core operating performance. Adjusted Diluted Earnings Per Share is not a measure of financial performance under GAAP and is not calculated through the application of GAAP. As such, it should not be considered as a substitute or alternative for the GAAP measure of Diluted Earnings Per Share and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. Adjusted Diluted Earnings Per Share, as presented, may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies. See page 12 for the Adjusted Diluted EPS Reconciliation table.
ABOUT TRANSCAT
Transcat, Inc. is a leading provider of accredited calibration, reliability, maintenance optimization, quality and compliance, validation, Computerized Maintenance Management System (CMMS), and pipette services. The Company is focused on providing best-in-class services and products to highly regulated industries, particularly the Life Science industry, which includes pharmaceutical, biotechnology, medical device, and other FDA-regulated businesses, as well as aerospace and defense, and energy and utilities. Transcat provides periodic on-site services, mobile calibration services, pickup and delivery, in-house services at its 29 Calibration Service Centers strategically located across
Transcat also operates as a leading value-added distributor that markets, sells and rents new and used national and proprietary brand instruments to customers primarily in
Transcat’s strategy is to leverage its strong brand and unique value proposition that includes its comprehensive instrument service capabilities, enterprise asset management, and leading distribution platform to drive organic sales growth. The Company will also look to expand its addressable calibration market through acquisitions and capability investments to further realize the inherent leverage of its business model. More information about Transcat can be found at: Transcat.com.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact and thus are subject to risks, uncertainties and assumptions. Forward-looking statements relate to expectations, estimates, beliefs, assumptions and predictions of future events and are identified by words such as “aim,” “anticipates,” “believes,” “can,” “could,” “designed,” “estimates,” “expects,” “focus,” “goal,” “intends,” “may,” “plan,” “outlook,” “potential,” “seek,” “strategy,” “strive,” “target,” “will,” “would,” and other similar words. All statements addressing operating performance, events or developments that Transcat expects or anticipates will occur in the future, including but not limited to statements relating to anticipated revenue, profit margins, the commercialization of software projects, sales operations, capital expenditures, cash flows, operating income, growth strategy, segment growth, potential acquisitions, integration of acquired businesses, market position, customer preferences, outlook and changes in market conditions in the industries in which Transcat operates are forward-looking statements. Forward-looking statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include those more fully described in Transcat’s Annual Report and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors.” Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements, which speak only as of the date they are made. Except as required by law, the Company disclaims any obligation to update, correct or publicly announce any revisions to any of the forward-looking statements contained in this news release, whether as the result of new information, future events or otherwise.
FINANCIAL TABLES FOLLOW.
TRANSCAT, INC. CONSOLIDATED STATEMENTS OF INCOME (In Thousands, Except Per Share Amounts) |
||||||||
|
(Unaudited) |
|
||||||
|
|
First Quarter Ended |
|
|||||
|
|
June 29, |
|
|
June 24, |
|
||
|
|
2024 |
|
|
2023 |
|
||
|
|
|
|
|
|
|
|
|
Service Revenue |
|
$ |
43,778 |
|
|
$ |
39,853 |
|
Distribution Sales |
|
|
22,929 |
|
|
|
20,745 |
|
Total Revenue |
|
|
66,707 |
|
|
|
60,598 |
|
|
|
|
|
|
|
|
|
|
Cost of Service Revenue |
|
|
28,895 |
|
|
|
26,882 |
|
Cost of Distribution Sales |
|
|
15,157 |
|
|
|
15,006 |
|
Total Cost of Revenue |
|
|
44,052 |
|
|
|
41,888 |
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
22,655 |
|
|
|
18,710 |
|
|
|
|
|
|
|
|
|
|
Selling, Marketing and Warehouse Expenses |
|
|
7,801 |
|
|
|
6,469 |
|
General and Administrative Expenses |
|
|
9,755 |
|
|
|
7,601 |
|
Total Operating Expenses |
|
|
17,556 |
|
|
|
14,070 |
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
|
5,099 |
|
|
|
4,640 |
|
|
|
|
|
|
|
|
|
|
Interest Expense |
|
|
52 |
|
|
|
814 |
|
Interest Income |
|
|
(312 |
) |
|
|
- |
|
Other Expense |
|
|
131 |
|
|
|
64 |
|
Total Interest and Other |
|
|
(129 |
) |
|
|
878 |
|
|
|
|
|
|
|
|
|
|
Income Before Provision For Income Taxes |
|
|
5,228 |
|
|
|
3,762 |
|
Provision for Income Taxes |
|
|
820 |
|
|
|
813 |
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ |
4,408 |
|
|
$ |
2,949 |
|
|
|
|
|
|
|
|
|
|
Basic Earnings Per Share |
|
$ |
0.49 |
|
|
$ |
0.39 |
|
Average Shares Outstanding |
|
|
9,064 |
|
|
|
7,622 |
|
|
|
|
|
|
|
|
|
|
Diluted Earnings Per Share |
|
$ |
0.48 |
|
|
$ |
0.38 |
|
| Average Shares Outstanding | 9,196 |
7,762 |
||||||
TRANSCAT, INC. CONSOLIDATED BALANCE SHEETS (In Thousands, Except Share and Per Share Amounts) |
||||||||
|
|
|
|
|||||
|
|
(Unaudited) |
|
|
(Audited) |
|
||
|
|
June 29, |
|
|
March 30, |
|
||
|
|
2024 |
|
|
2024 |
|
||
ASSETS |
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents |
|
$ |
22,657 |
|
|
$ |
19,646 |
|
Marketable Securities |
|
|
- |
|
|
$ |
15,533 |
|
Accounts Receivable, less allowance for credit losses of |
|
|
48,156 |
|
|
|
47,779 |
|
Other Receivables |
|
|
242 |
|
|
|
506 |
|
Inventory, net |
|
|
18,128 |
|
|
|
17,418 |
|
Prepaid Expenses and Other Current Assets |
|
|
5,070 |
|
|
|
4,276 |
|
Total Current Assets |
|
|
94,253 |
|
|
|
105,158 |
|
Property and Equipment, net |
|
|
45,954 |
|
|
|
38,944 |
|
Goodwill |
|
|
138,146 |
|
|
|
105,585 |
|
Intangible Assets, net |
|
|
26,254 |
|
|
|
19,987 |
|
Right to Use Assets, net |
|
|
17,996 |
|
|
|
16,823 |
|
Other Assets |
|
|
1,049 |
|
|
|
1,055 |
|
Total Assets |
|
$ |
323,652 |
|
|
$ |
287,552 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
Accounts Payable |
|
$ |
13,076 |
|
|
$ |
11,495 |
|
Accrued Compensation and Other Current Liabilities |
|
|
12,677 |
|
|
|
16,739 |
|
Income Taxes Payable |
|
|
3,687 |
|
|
|
2,926 |
|
Current Portion of Long-Term Debt |
|
|
2,362 |
|
|
|
2,339 |
|
Total Current Liabilities |
|
|
31,802 |
|
|
|
33,499 |
|
Long-Term Debt |
|
|
1,218 |
|
|
|
1,817 |
|
Deferred Tax Liabilities, net |
|
|
9,287 |
|
|
|
9,291 |
|
Lease Liabilities |
|
|
15,400 |
|
|
|
14,873 |
|
Other Liabilities |
|
|
3,657 |
|
|
|
2,903 |
|
Total Liabilities |
|
|
61,364 |
|
|
|
62,383 |
|
|
|
|
|
|
|
|
|
|
Shareholders' Equity: |
|
|
|
|
|
|
|
|
Common Stock, par value |
|
|
4,572 |
|
|
|
4,420 |
|
Capital in Excess of Par Value |
|
|
175,299 |
|
|
|
141,624 |
|
Accumulated Other Comprehensive Loss |
|
|
(1,104 |
) |
|
|
(949 |
) |
Retained Earnings |
|
|
83,521 |
|
|
|
80,074 |
|
Total Shareholders' Equity |
|
|
262,288 |
|
|
|
225,169 |
|
Total Liabilities and Shareholders' Equity |
|
$ |
323,652 |
|
|
$ |
287,552 |
|
TRANSCAT, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands) |
||||||||
|
|
(Unaudited) |
||||||
|
|
Three Months Ended |
||||||
|
|
June 29, |
|
June 24, |
||||
|
|
2024 |
|
2023 |
||||
Cash Flows from Operating Activities: |
|
|
|
|
|
|
|
|
Net Income |
|
$ |
4,408 |
|
|
$ |
2,949 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: |
|
|
|
|
|
|
|
|
Net (Gain)/Loss on Disposal of Property and Equipment |
|
|
(4 |
) |
|
|
8 |
|
Deferred Income Taxes |
|
|
(4 |
) |
|
|
44 |
|
Depreciation and Amortization |
|
|
4,113 |
|
|
|
2,790 |
|
(Recovery of)/Provision for Accounts Receivable and Inventory Reserves |
|
|
(89 |
) |
|
|
138 |
|
Stock-Based Compensation Expense |
|
|
697 |
|
|
|
930 |
|
Changes in Assets and Liabilities, net of acquisitions: |
|
|
|
|
|
|
|
|
Accounts Receivable and Other Receivables |
|
|
2,814 |
|
|
|
3,115 |
|
Inventory |
|
|
(235 |
) |
|
|
1,950 |
|
Prepaid Expenses and Other Current Assets |
|
|
(687 |
) |
|
|
531 |
|
Accounts Payable |
|
|
1,425 |
|
|
|
(4,315 |
) |
Accrued Compensation and Other Current Liabilities |
|
|
(4,273 |
) |
|
|
(1,203 |
) |
Income Taxes Payable |
|
|
759 |
|
|
|
599 |
|
Net Cash Provided by Operating Activities |
|
|
8,924 |
|
|
|
7,536 |
|
|
|
|
|
|
|
|
|
|
Cash Flows from Investing Activities: |
|
|
|
|
|
|
|
|
Purchase of Property and Equipment |
|
|
(3,674 |
) |
|
|
(2,767 |
) |
Proceeds from Sale of Property and Equipment |
|
|
- |
|
|
|
- |
|
Business Acquisitions, net of cash acquired |
|
|
(15,953 |
) |
|
|
(2,869 |
) |
Sales of Marketable Securities |
|
|
15,533 |
|
|
|
- |
|
Net Cash Used in Investing Activities |
|
|
(4,094 |
) |
|
|
(5,636 |
) |
|
|
|
|
|
|
|
|
|
Cash Flows from Financing Activities: |
|
|
|
|
|
|
|
|
Repayment of Revolving Credit Facility, net |
|
|
- |
|
|
|
(204 |
) |
Repayments of Term Loan |
|
|
(576 |
) |
|
|
(553 |
) |
Issuance of Common Stock, net of direct costs |
|
|
260 |
|
|
|
199 |
|
Repurchase of Common Stock |
|
|
(1,619 |
) |
|
|
(301 |
) |
Net Cash Used in Financing Activities |
|
|
(1,935 |
) |
|
|
(859 |
) |
|
|
|
|
|
|
|
|
|
Effect of Exchange Rate Changes on Cash and Cash Equivalents |
|
|
116 |
|
|
|
(423 |
) |
|
|
|
|
|
|
|
|
|
Net Increase in Cash and Cash Equivalents |
|
|
3,011 |
|
|
|
618 |
|
Cash and Cash Equivalents at Beginning of Period |
|
|
19,646 |
|
|
|
1,531 |
|
Cash and Cash Equivalents at End of Period |
|
$ |
22,657 |
|
|
$ |
2,149 |
|
TRANSCAT, INC. Adjusted EBITDA Reconciliation Table (In thousands) (Unaudited) |
||||||||||||||||||||
|
|
Fiscal 2025 |
|
|||||||||||||||||
|
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
YTD |
||||||||||
Net Income |
|
$ |
4,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,408 |
|
+ Interest Income |
|
|
(260 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(260 |
) |
+ Other Expense / (Income) |
|
|
131 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
131 |
|
+ Tax Provision |
|
|
820 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
820 |
|
Operating Income |
|
$ |
5,099 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
5,099 |
|
+ Depreciation & Amortization |
|
|
4,113 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,113 |
|
+ Transaction Expenses |
|
|
434 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
434 |
|
+ Acquisition Earn-Out Adjustment |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
|
+ Other (Expense) / Income |
|
|
(131 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(131 |
) |
+ Noncash Stock Compensation |
|
|
697 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
697 |
|
Adjusted EBITDA |
|
$ |
10,212 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
10,212 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Breakdown |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service Operating Income |
|
$ |
4,091 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,091 |
|
+ Depreciation & Amortization |
|
|
2,402 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,402 |
|
+ Transaction Expenses |
|
|
146 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
146 |
|
+ Other (Expense) / Income |
|
|
(96 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(96 |
) |
+ Noncash Stock Compensation |
|
|
421 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
421 |
|
Service Adjusted EBITDA |
|
$ |
6,964 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
6,964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distribution Operating Income |
|
$ |
1,008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,008 |
|
+ Depreciation & Amortization |
|
|
1,711 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,711 |
|
+ Transaction Expenses |
|
|
288 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
288 |
|
+ Other (Expense) / Income |
|
|
(35 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(35 |
) |
+ Noncash Stock Compensation |
|
|
276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
276 |
|
Distribution Adjusted EBITDA |
|
$ |
3,248 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
3,248 |
|
TRANSCAT, INC. Adjusted EBITDA Reconciliation Table (In thousands) (Unaudited) |
||||||||||||||||||||
|
|
Fiscal 2024 |
|
|||||||||||||||||
|
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
YTD |
||||||||||
Net Income |
|
$ |
2,949 |
|
|
$ |
460 |
|
|
$ |
3,348 |
|
|
$ |
6,890 |
|
|
$ |
13,647 |
|
+ Interest Expense / (Income) |
|
|
814 |
|
|
|
890 |
|
|
|
(266 |
) |
|
|
(411 |
) |
|
|
1,027 |
|
+ Other Expense / (Income) |
|
|
64 |
|
|
|
(49 |
) |
|
|
289 |
|
|
|
11 |
|
|
|
315 |
|
+ Tax Provision |
|
|
813 |
|
|
|
342 |
|
|
|
923 |
|
|
|
2,714 |
|
|
|
4,792 |
|
Operating Income |
|
$ |
4,640 |
|
|
$ |
1,643 |
|
|
$ |
4,294 |
|
|
$ |
9,204 |
|
|
$ |
19,781 |
|
+ Depreciation & Amortization |
|
|
2,790 |
|
|
|
3,269 |
|
|
|
3,783 |
|
|
|
3,635 |
|
|
|
13,477 |
|
+ Transaction Expenses |
|
|
185 |
|
|
|
328 |
|
|
|
78 |
|
|
|
37 |
|
|
|
628 |
|
+ Acquisition Earn-Out Adjustment |
|
|
- |
|
|
|
2,800 |
|
|
|
87 |
|
|
|
(2,357 |
) |
|
|
530 |
|
+ Other (Expense) / Income |
|
|
(64 |
) |
|
|
49 |
|
|
|
(289 |
) |
|
|
(11 |
) |
|
|
(315 |
) |
+ Noncash Stock Compensation |
|
|
930 |
|
|
|
1,241 |
|
|
|
1,167 |
|
|
|
1,174 |
|
|
|
4,512 |
|
Adjusted EBITDA |
|
$ |
8,481 |
|
|
$ |
9,330 |
|
|
$ |
9,120 |
|
|
$ |
11,682 |
|
|
$ |
38,613 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Breakdown |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service Operating Income |
|
$ |
3,192 |
|
|
$ |
742 |
|
|
$ |
2,966 |
|
|
$ |
8,144 |
|
|
$ |
15,044 |
|
+ Depreciation & Amortization |
|
|
2,226 |
|
|
|
2,325 |
|
|
|
2,362 |
|
|
|
2,280 |
|
|
|
9,193 |
|
+ Transaction Expenses |
|
|
185 |
|
|
|
76 |
|
|
|
30 |
|
|
|
(44 |
) |
|
|
247 |
|
+ Acquisition Earn-Out Adjustment |
|
|
- |
|
|
|
2,800 |
|
|
|
87 |
|
|
|
(2,357 |
) |
|
|
530 |
|
+ Other (Expense) / Income |
|
|
(47 |
) |
|
|
29 |
|
|
|
(203 |
) |
|
|
(18 |
) |
|
|
(239 |
) |
+ Noncash Stock Compensation |
|
|
676 |
|
|
|
826 |
|
|
|
737 |
|
|
|
736 |
|
|
|
2,975 |
|
Service Adjusted EBITDA |
|
$ |
6,232 |
|
|
$ |
6,798 |
|
|
$ |
5,979 |
|
|
$ |
8,741 |
|
|
$ |
27,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distribution Operating Income |
|
$ |
1,448 |
|
|
$ |
901 |
|
|
$ |
1,328 |
|
|
$ |
1,060 |
|
|
$ |
4,737 |
|
+ Depreciation & Amortization |
|
|
564 |
|
|
|
944 |
|
|
|
1,421 |
|
|
|
1,355 |
|
|
|
4,284 |
|
+ Transaction Expenses |
|
|
- |
|
|
|
252 |
|
|
|
48 |
|
|
|
81 |
|
|
|
381 |
|
+ Other (Expense) / Income |
|
|
(17 |
) |
|
|
20 |
|
|
|
(86 |
) |
|
|
7 |
|
|
|
(76 |
) |
+ Noncash Stock Compensation |
|
|
254 |
|
|
|
415 |
|
|
|
430 |
|
|
|
438 |
|
|
|
1,537 |
|
Distribution Adjusted EBITDA |
|
$ |
2,249 |
|
|
$ |
2,532 |
|
|
$ |
3,141 |
|
|
$ |
2,941 |
|
|
$ |
10,863 |
|
TRANSCAT, INC. Adjusted Diluted EPS Reconciliation Table (In Thousands, Except Per Share Amounts) (Unaudited) |
||||||||||||||||||||
|
|
Fiscal 2025 |
|
|||||||||||||||||
|
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
YTD |
||||||||||
Net Income |
|
$ |
4,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,408 |
|
+ Amortization of Intangible Assets |
|
|
1,749 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,749 |
|
+ Acquisition Amortization of Backlog |
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24 |
|
+ Acquisition Deal Costs |
|
|
434 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
434 |
|
+ Acquisition Stock Expense |
|
|
234 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
234 |
|
+ Income Tax Effect at |
|
|
(610 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(610 |
) |
+ Acquisition Earn-Out Adjustment |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
|
Adjusted Net Income |
|
$ |
6,239 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
6,239 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Diluted Shares Outstanding |
|
|
9,196 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,196 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Earnings Per Share |
|
$ |
0.48 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
0.48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Diluted Earnings Per Share |
|
$ |
0.68 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
0.68 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal 2024 |
|
|||||||||||||||||
|
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
YTD |
||||||||||
Net Income |
|
$ |
2,949 |
|
|
$ |
460 |
|
|
$ |
3,348 |
|
|
$ |
6,890 |
|
|
$ |
13,647 |
|
+ Amortization of Intangible Assets |
|
|
1,093 |
|
|
|
1,416 |
|
|
|
1,674 |
|
|
|
1,447 |
|
|
|
5,630 |
|
+ Acquisition Amortization of Backlog |
|
|
- |
|
|
|
19 |
|
|
|
24 |
|
|
|
24 |
|
|
|
67 |
|
+ Acquisition Deal Costs |
|
|
185 |
|
|
|
328 |
|
|
|
78 |
|
|
|
81 |
|
|
|
672 |
|
+ Acquisition Stock Expense |
|
|
182 |
|
|
|
274 |
|
|
|
265 |
|
|
|
258 |
|
|
|
979 |
|
+ Income Tax Effect at |
|
|
(365 |
) |
|
|
(509 |
) |
|
|
(532 |
) |
|
|
(431 |
) |
|
|
(1,837 |
) |
+ Acquisition Earn-Out Adjustment |
|
|
- |
|
|
|
2,800 |
|
|
|
87 |
|
|
|
(2,358 |
) |
|
|
529 |
|
Adjusted Net Income |
|
$ |
4,044 |
|
|
$ |
4,788 |
|
|
$ |
4,944 |
|
|
$ |
5,911 |
|
|
$ |
19,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Diluted Shares Outstanding |
|
|
7,762 |
|
|
|
7,948 |
|
|
|
8,752 |
|
|
|
8,972 |
|
|
|
8,352 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Earnings Per Share |
|
$ |
0.38 |
|
|
$ |
0.06 |
|
|
$ |
0.38 |
|
|
$ |
0.77 |
|
|
$ |
1.63 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Diluted Earnings Per Share |
|
$ |
0.52 |
|
|
$ |
0.60 |
|
|
$ |
0.56 |
|
|
$ |
0.66 |
|
|
$ |
2.36 |
|
TRANSCAT, INC. Additional Information - Business Segment Data (Dollars in thousands) (Unaudited) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Change |
||||||
SERVICE |
|
FY 2025 Q1 |
|
FY 2024 Q1 |
|
$'s |
|
% |
||||||||
Service Revenue |
|
$ |
43,778 |
|
|
$ |
39,853 |
|
|
$ |
3,925 |
|
|
|
9.8 |
% |
Cost of Revenue |
|
|
28,895 |
|
|
|
26,882 |
|
|
|
2,013 |
|
|
|
7.5 |
% |
Gross Profit |
|
$ |
14,883 |
|
|
$ |
12,971 |
|
|
$ |
1,912 |
|
|
|
14.7 |
% |
Gross Margin |
|
|
34.0 |
% |
|
|
32.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, Marketing & Warehouse Expenses |
|
$ |
4,303 |
|
|
$ |
4,106 |
|
|
$ |
197 |
|
|
|
4.8 |
% |
General and Administrative Expenses |
|
|
6,490 |
|
|
|
5,673 |
|
|
|
817 |
|
|
|
14.4 |
% |
Operating Income |
|
$ |
4,090 |
|
|
$ |
3,192 |
|
|
$ |
898 |
|
|
|
28.1 |
% |
% of Revenue |
|
|
9.3 |
% |
|
|
8.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change |
||||||
DISTRIBUTION |
|
FY 2025 Q1 |
|
FY 2024 Q1 |
|
$'s |
|
% |
||||||||
Distribution Sales |
|
$ |
22,929 |
|
|
$ |
20,745 |
|
|
$ |
2,184 |
|
|
|
10.5 |
% |
Cost of Sales |
|
|
15,157 |
|
|
|
15,006 |
|
|
|
151 |
|
|
|
1.0 |
% |
Gross Profit |
|
$ |
7,772 |
|
|
$ |
5,739 |
|
|
$ |
2,033 |
|
|
|
35.4 |
% |
Gross Margin |
|
|
33.9 |
% |
|
|
27.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, Marketing & Warehouse Expenses |
|
$ |
3,498 |
|
|
$ |
2,363 |
|
|
$ |
1,135 |
|
|
|
48.0 |
% |
General and Administrative Expenses |
|
|
3,265 |
|
|
|
1,928 |
|
|
|
1,337 |
|
|
|
69.3 |
% |
Operating Income |
|
$ |
1,009 |
|
|
$ |
1,448 |
|
|
$ |
(439 |
) |
|
|
(30.3 |
)% |
% of Sales |
|
|
4.4 |
% |
|
|
7.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change |
||||||
TOTAL |
|
FY 2025 Q1 |
|
FY 2024 Q1 |
|
$'s |
|
% |
||||||||
Total Revenue |
|
$ |
66,707 |
|
|
$ |
60,598 |
|
|
$ |
6,109 |
|
|
|
10.1 |
% |
Total Cost of Revenue |
|
|
44,052 |
|
|
|
41,888 |
|
|
|
2,164 |
|
|
|
5.2 |
% |
Gross Profit |
|
$ |
22,655 |
|
|
$ |
18,710 |
|
|
$ |
3,945 |
|
|
|
21.1 |
% |
Gross Margin |
|
|
34.0 |
% |
|
|
30.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, Marketing & Warehouse Expenses |
|
$ |
7,801 |
|
|
$ |
6,469 |
|
|
$ |
1,332 |
|
|
|
20.6 |
% |
General and Administrative Expenses |
|
|
9,755 |
|
|
|
7,601 |
|
|
|
2,154 |
|
|
|
28.3 |
% |
Operating Income |
|
$ |
5,099 |
|
|
$ |
4,640 |
|
|
$ |
459 |
|
|
|
9.9 |
% |
% of Revenue |
|
|
7.6 |
% |
|
|
7.7 |
% |
|
|
|
|
|
|
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240729780719/en/
Tom Barbato
(585) 505-6530
Thomas.Barbato@transcat.com
Source: Transcat, Inc.
FAQ
What were Transcat's (TRNS) Q1 fiscal 2025 revenue and earnings?
How did Transcat's (TRNS) gross margin perform in Q1 fiscal 2025?
What was Transcat's (TRNS) Adjusted EBITDA for Q1 fiscal 2025?
How did Transcat's (TRNS) Service segment perform in Q1 fiscal 2025?
What is Transcat's (TRNS) outlook for fiscal 2025?
