Page 8 - Transcat Blog

• Consolidated fourth quarter revenue of $48.8 million up 6.6% from prior year; full year revenue slightly above prior year
• Service segment fourth quarter organic revenue grew 10% and gross margin expanded 500 basis points to 33.9%
• Service segment surpassed $100 million in revenue and 30% gross margin milestones for the full year
• Record full year operating income and operating cash flow of $11.1 million and $23.6 million, respectively

ROCHESTER, NY, May 13, 2021 – 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 appointments of Craig D. Cairns and Mbago M. Kaniki to its Board of Directors, effective May 12, 2021. These additions fill the vacancies that were created by the retirement of John Smith in January 2021 and Alan Resnick, who departed from the Board in September 2020. Both new Directors are considered independent.

ROCHESTER, NY, May 5, 2021 – 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 fourth quarter and full fiscal year 2021 results after the close of financial markets on Tuesday, May 18, 2021.

ROCHESTER, NY, March 17, 2021 – 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 Mark A. Doheny, Chief Financial Officer, will present and be available for investor meetings at the Sidoti Spring 2021 Virtual Conference on Wednesday, March 24, 2021.

• Total revenue of $44.1 million up 2% from prior-year period in an environment that continues to be impacted by the COVID-19 pandemic
• Service segment organic revenue growth of 5.9%; Total Service revenue up 12.2%
• Service segment gross margin expanded 590 basis points to 27.9%

ROCHESTER, NY, January 20, 2021 – 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 third quarter fiscal year 2021 results after the close of financial markets on Tuesday, February 2, 2021.

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.

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.

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.

• 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