Page 8 - Investor Relations News
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ROCHESTER, NY, December 16, 2020 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced that it has acquired substantially all of the assets of BioTek Services, Inc. (“BioTek”), effective December 16, 2020. The purchase price was $3.5 million and is subject to certain customary holdback provisions.
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ROCHESTER, NY, November 17, 2020 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced that it has filed a new shelf registration statement on Form S-3 with the United States Securities and Exchange Commission (“SEC”) to replace its previous shelf registration statement, which expires on December 17, 2020. The registration statement was filed on November 17, 2020 and will become effective upon successful review by the SEC.
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ROCHESTER, NY, November 10, 2020 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced the appointment of Mark A. Doheny as Chief Financial Officer. Mr. Doheny succeeds Michael J. Tschiderer, who will provide support as needed until his retirement from Transcat at the end of the calendar year.
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- Consolidated gross margin up 260 basis points to 27.6% driven by impressive Service
segment gross margin of 32.2%
- Total revenue of $41.6 million consistent with prior-year period in a challenging market
environment; Service segment achieved 46th consecutive quarter of year-over-year growth
- Quarterly cash from operations of $8.5 million; debt reduced by $5.8 million
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ROCHESTER, NY, October 14, 2020 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”),
a leading provider of accredited calibration, repair, inspection and laboratory instrument services and
value-added distributor of professional grade handheld test, measurement and control instrumentation,
announced that it will release its second quarter fiscal year 2021 results after the close of financial
markets on Tuesday, October 27, 2020.
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ROCHESTER, NY, September 15, 2020 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced that Lee D. Rudow, President and Chief Executive Officer, and Michael J. Tschiderer, Chief Financial Officer, will present and be available for investor meetings at the Sidoti Fall 2020 Virtual Conference.
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Gary J. Haseley Appointed Chairman of the Board at Transcat, Inc.
Charles P. Hadeed will remain on the Board of Directors and Chair the Audit Committee
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Michael J. Tschiderer, Chief Financial Officer, plans to retire in Fall of 2020
James M. Jenkins, J.D., to join as General Counsel and Vice President of Corporate Development
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- In challenging times, Service segment revenue grew 2.5%
- Consolidated gross margin up 50 basis points to 24.2%, despite lower revenue of $38.9 million
- Service gross margin expanded 240 basis points to 26.4% driven by sustainable improvements from ongoing productivity initiatives
- Achieved net income of $0.8 million, or $0.11 per diluted share
- Generated $4.0 million of cash from operations in the first quarter
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ROCHESTER, NY, July 8, 2020 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced that it will release its first quarter fiscal year 2021 results after the close of financial markets on Tuesday, July 21, 2020.
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