CORRECTING and REPLACING: Transcat Reports Fiscal Fourth Quarter and Full Year 2025 Financial Results
-
Q4’25 Service Revenue Increased
11% to$52 Million -
Q4’25 Service Gross Profit Increased
13% on Double-Digit Revenue Growth -
Q4’25 Service Gross Margins Expanded 50 Basis Points to
36.2% on Improved Productivity and Shift to Automation -
Q4’25 Adjusted EBITDA Increased
9% to$12.7 Million -
Full Fiscal Year 2025 Revenue Increased
7% to$278 Million - Management to Host Conference Call Tomorrow at 11:00 a.m. Eastern Time
The updated release reads:
TRANSCAT REPORTS FISCAL FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS
-
Q4’25 Service Revenue Increased
11% to$52 Million -
Q4’25 Service Gross Profit Increased
13% on Double-Digit Revenue Growth -
Q4’25 Service Gross Margins Expanded 50 Basis Points to
36.2% on Improved Productivity and Shift to Automation -
Q4’25 Adjusted EBITDA Increased
9% to$12.7 Million -
Full Fiscal Year 2025 Revenue Increased
7% to$278 Million - Management to Host Conference Call Tomorrow at 11:00 a.m. Eastern Time
Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration services, cost control and optimization services, and distribution and rental of value-added professional grade handheld test, measurement, and control instrumentation, today reported financial results for its fiscal fourth quarter and year ended March 29, 2025.
Management Commentary
“Consolidated revenue grew
“The macroeconomic backdrop, including tariffs, has become more uncertain since the beginning of the year. However, our business model is resilient. The regulatory standards for manufacturers imposed by entities including the FDA, FAA and Department of Defense fundamentally drive the opportunity for ongoing organic Service growth of our differentiated calibration services. From a tariff standpoint, higher levels of US manufacturing overtime will provide increased opportunity for Transcat. Our dedicated team has a proven track record of delivering profitable revenue growth over the past decade and a half. We believe our team in combination with the recurring revenue inherent in the industries we serve, diversified portfolio with a Fortune 500 client base, and strong balance sheet will continue to differentiate Transcat during Fiscal 2026 and beyond.
“While we would expect some downward pressure in revenue in a highly volatile economic backdrop, generally our business model holds up well and will return to high single-digit Service organic revenue growth as macro-trends normalize. Inherent operating leverage in our Service model, along with automation of our calibration processes and focus on productivity, remain key enablers of Service margin expansion. We will continue to leverage our acquisition expertise and are excited with the current flow of strategic opportunities. We believe strong execution, paired with strategic acquisitions, positions us well to drive long-term shareholder value.”
Fourth Quarter Fiscal 2025 Review
(Results are compared with the fourth quarter of the fiscal year ended March 30, 2024 ("fiscal 2024"))
($ in thousands) |
|
|
|
|
|
|
|
|
|
Change |
|
|||||
|
|
FY25 Q4 |
|
|
FY24 Q4 |
|
|
$'s |
|
|
% |
|
||||
Service Revenue |
|
$ |
52,010 |
|
|
$ |
46,732 |
|
|
$ |
5,278 |
|
|
|
11.3 |
% |
Distribution Revenue |
|
|
25,124 |
|
|
|
24,181 |
|
|
|
943 |
|
|
|
3.9 |
% |
Revenue |
|
$ |
77,134 |
|
|
$ |
70,913 |
|
|
$ |
6,221 |
|
|
|
8.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
$ |
25,913 |
|
|
$ |
24,035 |
|
|
$ |
1,878 |
|
|
|
7.8 |
% |
Gross Margin |
|
|
33.6 |
% |
|
|
33.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
$ |
6,940 |
|
|
$ |
9,204 |
|
|
$ |
(2,264 |
) |
|
|
(24.6 |
)% |
Operating Margin |
|
|
9.0 |
% |
|
|
13.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ |
4,464 |
|
|
$ |
6,890 |
|
|
$ |
(2,426 |
) |
|
|
(35.2 |
)% |
Net Margin |
|
|
5.8 |
% |
|
|
9.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA* |
|
$ |
12,745 |
|
|
$ |
11,682 |
|
|
$ |
1,063 |
|
|
|
9.1 |
% |
Adjusted EBITDA* Margin |
|
|
16.5 |
% |
|
|
16.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted EPS |
|
$ |
0.48 |
|
|
$ |
0.77 |
|
|
$ |
(0.29 |
) |
|
|
(37.6 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Diluted EPS* |
|
$ |
0.64 |
|
|
$ |
0.66 |
|
|
$ |
(0.02 |
) |
|
|
(3.1 |
)% |
*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
Operating expenses were
Adjusted EBITDA was
Service Segment Fiscal 2025 Fourth Quarter Results
Represents the accredited calibration, repair, inspection and laboratory instrument services business (
($ in thousand) |
|
|
|
|
|
|
|
|
|
Change |
|
|||||
|
|
FY25 Q4 |
|
|
FY24 Q4 |
|
|
$'s |
|
|
% |
|
||||
Service Segment Revenue |
|
$ |
52,010 |
|
|
$ |
46,732 |
|
|
$ |
5,278 |
|
|
|
11.3 |
% |
Gross Profit |
|
$ |
18,828 |
|
|
$ |
16,704 |
|
|
$ |
2,124 |
|
|
|
12.7 |
% |
Gross Margin |
|
|
36.2 |
% |
|
|
35.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
$ |
5,976 |
|
|
$ |
8,144 |
|
|
$ |
(2,168 |
) |
|
|
(26.6 |
)% |
Operating Margin |
|
|
11.5 |
% |
|
|
17.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA* |
|
$ |
10,185 |
|
|
$ |
8,741 |
|
|
$ |
1,444 |
|
|
|
16.5 |
% |
Adjusted EBITDA* Margin |
|
|
19.6 |
% |
|
|
18.7 |
% |
|
|
|
|
|
|
|
|
*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 Fiscal 2025 Fourth Quarter Results
Represents the sale and rental of new and used professional grade handheld test, measurement and control instrumentation (
($ in thousands) |
|
|
|
|
|
|
|
|
|
Change |
|
|||||
|
|
FY25 Q4 |
|
|
FY24 Q4 |
|
|
$'s |
|
|
% |
|
||||
Distribution Segment Revenue |
|
$ |
25,124 |
|
|
$ |
24,181 |
|
|
$ |
943 |
|
|
|
3.9 |
% |
Gross Profit |
|
$ |
7,085 |
|
|
$ |
7,331 |
|
|
$ |
(246 |
) |
|
|
(3.4 |
)% |
Gross Margin |
|
|
28.2 |
% |
|
|
30.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
$ |
964 |
|
|
$ |
1,060 |
|
|
$ |
(96 |
) |
|
|
(9.1 |
)% |
Operating Margin |
|
|
3.8 |
% |
|
|
4.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA* |
|
$ |
2,560 |
|
|
$ |
2,941 |
|
|
$ |
(381 |
) |
|
|
(13.0 |
)% |
Adjusted EBITDA* Margin |
|
|
10.2 |
% |
|
|
12.2 |
% |
|
|
|
|
|
|
|
|
*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
Full-Year Fiscal 2025 Review
(Results are compared with full-year fiscal 2024)
($ in thousands) |
|
|
|
|
|
|
|
|
|
Change |
|
|||||
|
|
FY 2025 |
|
|
FY 2024 |
|
|
$'s |
|
|
% |
|
||||
Service Revenue |
|
|
181,428 |
|
|
|
169,525 |
|
|
$ |
11,903 |
|
|
|
7.0 |
% |
Distribution Revenue |
|
|
96,993 |
|
|
|
89,956 |
|
|
|
7,037 |
|
|
|
7.8 |
% |
Revenue |
|
$ |
278,421 |
|
|
$ |
259,481 |
|
|
$ |
18,940 |
|
|
|
7.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
$ |
89,453 |
|
|
$ |
83,806 |
|
|
$ |
5,647 |
|
|
|
6.7 |
% |
Gross Margin |
|
|
32.1 |
% |
|
|
32.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
$ |
17,874 |
|
|
$ |
19,781 |
|
|
$ |
(1,907 |
) |
|
|
(9.6 |
)% |
Operating Margin |
|
|
6.4 |
% |
|
|
7.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ |
14,515 |
|
|
$ |
13,647 |
|
|
$ |
868 |
|
|
|
6.4 |
% |
Net Margin |
|
|
5.2 |
% |
|
|
5.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA* |
|
$ |
39,732 |
|
|
$ |
38,613 |
|
|
$ |
1,119 |
|
|
|
2.9 |
% |
Adjusted EBITDA* Margin |
|
|
14.3 |
% |
|
|
14.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted EPS |
|
$ |
1.57 |
|
|
$ |
1.63 |
|
|
$ |
(0.06 |
) |
|
|
(3.8 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Diluted EPS* |
|
$ |
2.29 |
|
|
$ |
2.36 |
|
|
$ |
(0.07 |
) |
|
|
(3.1 |
)% |
*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. |
Total revenue was
Consolidated operating expenses were
Adjusted EBITDA was
Balance Sheet and Cash Flow Overview
On March 29, 2025, the Company had
Tom Barbato, Transcat’s Chief Financial Officer, added, “Service gross margins expanded 50bps on double-digit revenue growth in Q4 which further demonstrates our ability to leverage higher levels of Technician productivity and our differentiated value proposition. Q4 EBITDA grew
Fiscal Fourth Quarter and Full Year 2025 Results Webcast and Conference Call
Transcat will host a conference call and webcast on Tuesday, May 20, 2025, at 11:00 a.m. ET. Management will review the financial and operating results for the fourth quarter and full fiscal year, 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 can be viewed during the webcast or will be available at www.transcat.com/investor-relations.
To access the call, please use the following information:
Date: |
Tuesday, May 20, 2025 |
|
Time: |
11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) |
|
Dial-in: |
1-877-407-4018 |
|
International Dial-in: |
1-201-689-8471 |
|
Conference Code: |
13753614 |
|
Webcast: |
https://viavid.webcasts.com/starthere.jsp?ei=1717999&tp_key=40fd39b758 |
A telephonic replay will be available approximately three hours after the call and will remain available through Tuesday, May 27, 2025. To listen to the archived call, dial 1-844-512-2921 from the
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 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, Cost, Control and Optimizations services, 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) |
|
|
(Unaudited) |
|
||||||||||
|
|
Fourth Quarter Ended |
|
|
Fiscal Year Ended |
|
||||||||||
|
|
March 29, |
|
|
March 30, |
|
|
March 29, |
|
|
March 30, |
|
||||
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service Revenue |
|
$ |
52,010 |
|
|
$ |
46,732 |
|
|
$ |
181,428 |
|
|
$ |
169,525 |
|
Distribution Sales |
|
|
25,124 |
|
|
|
24,181 |
|
|
|
96,993 |
|
|
|
89,956 |
|
Total Revenue |
|
|
77,134 |
|
|
|
70,913 |
|
|
|
278,421 |
|
|
|
259,481 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Service Revenue |
|
|
33,182 |
|
|
|
30,028 |
|
|
|
120,769 |
|
|
|
112,272 |
|
Cost of Distribution Sales |
|
|
18,039 |
|
|
|
16,850 |
|
|
|
68,199 |
|
|
|
63,403 |
|
Total Cost of Revenue |
|
|
51,221 |
|
|
|
46,878 |
|
|
|
188,968 |
|
|
|
175,675 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
25,913 |
|
|
|
24,035 |
|
|
|
89,453 |
|
|
|
83,806 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, Marketing and Warehouse Expenses |
|
|
9,240 |
|
|
|
7,866 |
|
|
|
33,341 |
|
|
|
28,710 |
|
General and Administrative Expenses |
|
|
9,733 |
|
|
|
6,965 |
|
|
|
38,238 |
|
|
|
35,315 |
|
Total Operating Expenses |
|
|
18,973 |
|
|
|
14,831 |
|
|
|
71,579 |
|
|
|
64,025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
|
6,940 |
|
|
|
9,204 |
|
|
|
17,874 |
|
|
|
19,781 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and Other Expense, net |
|
|
684 |
|
|
|
(400 |
) |
|
|
(452 |
) |
|
|
1,342 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Before Income Taxes |
|
|
6,256 |
|
|
|
9,604 |
|
|
|
18,326 |
|
|
|
18,439 |
|
Provision for Income Taxes |
|
|
1,792 |
|
|
|
2,714 |
|
|
|
3,811 |
|
|
|
4,792 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ |
4,464 |
|
|
$ |
6,890 |
|
|
$ |
14,515 |
|
|
$ |
13,647 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic Earnings Per Share |
|
$ |
0.48 |
|
|
$ |
0.78 |
|
|
$ |
1.58 |
|
|
$ |
1.66 |
|
Average Shares Outstanding |
|
|
9,230 |
|
|
|
8,832 |
|
|
|
9,185 |
|
|
|
8,239 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Earnings Per Share |
|
$ |
0.48 |
|
|
$ |
0.77 |
|
|
$ |
1.57 |
|
|
$ |
1.63 |
|
Average Shares Outstanding |
|
|
9,287 |
|
|
|
8,972 |
|
|
|
9,254 |
|
|
|
8,352 |
|
TRANSCAT, INC. CONSOLIDATED BALANCE SHEETS (In Thousands, Except Share and Per Share Amounts) |
||||||||
|
|
March 29, |
|
|
March 30, |
|
||
|
|
2025 |
|
|
2024 |
|
||
ASSETS |
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
Cash and Cash Equivalents |
|
$ |
1,517 |
|
|
$ |
19,646 |
|
Marketable Securities |
|
|
- |
|
|
|
15,533 |
|
Accounts Receivable, less allowance for credit losses of |
|
|
55,941 |
|
|
|
47,779 |
|
Other Receivables |
|
|
373 |
|
|
|
506 |
|
Inventory, net |
|
|
14,483 |
|
|
|
17,418 |
|
Prepaid Expenses and Other Current Assets |
|
|
5,695 |
|
|
|
4,276 |
|
Total Current Assets |
|
|
78,009 |
|
|
|
105,158 |
|
Property and Equipment, net |
|
|
50,024 |
|
|
|
38,944 |
|
Goodwill |
|
|
176,928 |
|
|
|
105,585 |
|
Intangible Assets, net |
|
|
54,777 |
|
|
|
19,987 |
|
Right to Use Assets, net |
|
|
24,345 |
|
|
|
16,823 |
|
Other Assets |
|
|
1,159 |
|
|
|
1,055 |
|
Total Assets |
|
$ |
385,242 |
|
|
$ |
287,552 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
Accounts Payable |
|
$ |
16,755 |
|
|
$ |
11,495 |
|
Accrued Compensation and Other Current Liabilities |
|
|
15,466 |
|
|
|
16,739 |
|
Income Taxes Payable |
|
|
- |
|
|
|
2,926 |
|
Current Portion of Long-Term Debt |
|
|
1,816 |
|
|
|
2,339 |
|
Total Current Liabilities |
|
|
34,037 |
|
|
|
33,499 |
|
Long-Term Debt |
|
|
30,892 |
|
|
|
1,817 |
|
Deferred Tax Liabilities, net |
|
|
9,286 |
|
|
|
9,291 |
|
Lease Liabilities |
|
|
21,395 |
|
|
|
14,873 |
|
Other Liabilities |
|
|
2,752 |
|
|
|
2,903 |
|
Total Liabilities |
|
|
98,362 |
|
|
|
62,383 |
|
|
|
|
|
|
|
|
|
|
Shareholders' Equity: |
|
|
|
|
|
|
|
|
Common Stock, par value |
|
|
4,658 |
|
|
|
4,420 |
|
Capital in Excess of Par Value |
|
|
191,167 |
|
|
|
141,624 |
|
Accumulated Other Comprehensive Loss |
|
|
(1,469 |
) |
|
|
(949 |
) |
Retained Earnings |
|
|
92,524 |
|
|
|
80,074 |
|
Total Shareholders' Equity |
|
|
286,880 |
|
|
|
225,169 |
|
Total Liabilities and Shareholders' Equity |
|
$ |
385,242 |
|
|
$ |
287,552 |
|
TRANSCAT, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In Thousands) |
||||||||
|
|
(Unaudited) |
|
|||||
|
|
Fiscal Year Ended |
|
|||||
|
|
March 29, |
|
|
March 30, |
|
||
|
|
2025 |
|
|
2024 |
|
||
Cash Flows from Operating Activities: |
|
|
|
|
|
|
|
|
Net Income |
|
$ |
14,515 |
|
|
$ |
13,647 |
|
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: |
|
|
|
|
|
|
|
|
Net (Gain) Loss on Disposal of Property and Equipment |
|
|
(31 |
) |
|
|
53 |
|
Deferred Income Taxes |
|
|
(5 |
) |
|
|
(1,597 |
) |
Depreciation and Amortization |
|
|
18,567 |
|
|
|
13,544 |
|
Gain on Sale of Assets |
|
|
(855 |
) |
|
|
- |
|
Provision for Accounts Receivable and Inventory Reserves |
|
|
336 |
|
|
|
406 |
|
Stock-Based Compensation Expense |
|
|
3,248 |
|
|
|
4,512 |
|
Changes in Assets and Liabilities, net of acquisitions: |
|
|
|
|
|
|
|
|
Accounts Receivable and Other Receivables |
|
|
(1,292 |
) |
|
|
(1,259 |
) |
Inventory |
|
|
4,393 |
|
|
|
2,318 |
|
Prepaid Expenses and Other Current Assets |
|
|
(992 |
) |
|
|
(299 |
) |
Accounts Payable |
|
|
4,940 |
|
|
|
(5,005 |
) |
Accrued Compensation and Other Current Liabilities |
|
|
(914 |
) |
|
|
3,397 |
|
Income Taxes Payable |
|
|
(2,925 |
) |
|
|
2,899 |
|
Net Cash Provided by Operating Activities |
|
|
38,985 |
|
|
|
32,616 |
|
|
|
|
|
|
|
|
|
|
Cash Flows from Investing Activities: |
|
|
|
|
|
|
|
|
Purchases of Property and Equipment |
|
|
(13,197 |
) |
|
|
(13,280 |
) |
Proceeds from Sale of Property and Equipment |
|
|
- |
|
|
|
- |
|
Business Acquisitions, net of cash acquired |
|
|
(87,436 |
) |
|
|
(12,859 |
) |
Proceeds from Sale of Assets |
|
|
1,100 |
|
|
|
- |
|
Sales (Purchases) of Marketable Securities |
|
|
15,533 |
|
|
|
(15,533 |
) |
Net Cash Used in Investing Activities |
|
|
(84,000 |
) |
|
|
(41,672 |
) |
|
|
|
|
|
|
|
|
|
Cash Flows from Financing Activities: |
|
|
|
|
|
|
|
|
Proceeds from (repayments of) Revolving Credit Facility, net |
|
|
30,891 |
|
|
|
(42,713 |
) |
Repayments of Term Loan |
|
|
(2,338 |
) |
|
|
(2,248 |
) |
Issuance of Common Stock, net of direct costs |
|
|
1,874 |
|
|
|
77,266 |
|
Repurchase of Common Stock |
|
|
(3,565 |
) |
|
|
(4,906 |
) |
Net Cash Provided by Financing Activities |
|
|
26,862 |
|
|
|
27,399 |
|
|
|
|
|
|
|
|
|
|
Effect of Exchange Rate Changes on Cash and Cash Equivalents |
|
|
24 |
|
|
|
(228 |
) |
|
|
|
|
|
|
|
|
|
Net (Decrease) Increase in Cash and Cash Equivalents |
|
|
(18,129 |
) |
|
|
18,115 |
|
Cash and Cash Equivalents at Beginning of Period |
|
|
19,646 |
|
|
|
1,531 |
|
Cash and Cash Equivalents at End of Period |
|
$ |
1,517 |
|
|
$ |
19,646 |
|
TRANSCAT, INC. Adjusted EBITDA Reconciliation Table (In thousands) (Unaudited) |
||||||||||||||||||||
|
|
Fiscal 2025 |
|
|||||||||||||||||
|
|
Q1 |
|
|
Q2 |
|
|
Q3 |
|
|
Q4 |
|
|
YTD |
|
|||||
Net Income |
|
$ |
4,408 |
|
|
$ |
3,286 |
|
|
$ |
2,357 |
|
|
$ |
4,464 |
|
|
$ |
14,515 |
|
+ Interest Expense |
|
|
(260 |
) |
|
|
(210 |
) |
|
|
(20 |
) |
|
|
463 |
|
|
|
(27 |
) |
+ Other Expense / (Income) |
|
|
131 |
|
|
|
232 |
|
|
|
(1,009 |
) |
|
|
221 |
|
|
|
(425 |
) |
+ Tax Provision |
|
|
820 |
|
|
|
427 |
|
|
|
772 |
|
|
|
1,792 |
|
|
|
3,811 |
|
Operating Income |
|
$ |
5,099 |
|
|
$ |
3,735 |
|
|
$ |
2,100 |
|
|
$ |
6,940 |
|
|
$ |
17,874 |
|
+ Depreciation & Amortization |
|
|
4,113 |
|
|
|
4,399 |
|
|
|
4,430 |
|
|
|
5,625 |
|
|
|
18,567 |
|
+ Transaction Expense |
|
|
434 |
|
|
|
32 |
|
|
|
778 |
|
|
|
33 |
|
|
|
1,277 |
|
+ Acquisition Contingent Consideration Adjustment |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(835 |
) |
|
|
(835 |
) |
+ Other (Expense) / Income |
|
|
(131 |
) |
|
|
(231 |
) |
|
|
154 |
|
|
|
(191 |
) |
|
|
(399 |
) |
+ Noncash Stock Compensation |
|
|
697 |
|
|
|
926 |
|
|
|
452 |
|
|
|
1,173 |
|
|
|
3,248 |
|
Adjusted EBITDA |
|
$ |
10,212 |
|
|
$ |
8,861 |
|
|
$ |
7,914 |
|
|
$ |
12,745 |
|
|
$ |
39,732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Breakdown |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service Operating Income |
|
$ |
4,091 |
|
|
$ |
3,704 |
|
|
$ |
1,412 |
|
|
$ |
5,976 |
|
|
$ |
15,183 |
|
+ Depreciation & Amortization |
|
|
2,402 |
|
|
|
2,455 |
|
|
|
2,451 |
|
|
|
3,774 |
|
|
|
11,082 |
|
+ Transaction Expense |
|
|
146 |
|
|
|
- |
|
|
|
778 |
|
|
|
11 |
|
|
|
935 |
|
+ Acquisition Contingent Consideration Adjustment |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(256 |
) |
|
|
(256 |
) |
+ Other (Expense) / Income |
|
|
(96 |
) |
|
|
(164 |
) |
|
|
94 |
|
|
|
(133 |
) |
|
|
(299 |
) |
+ Noncash Stock Compensation |
|
|
421 |
|
|
|
629 |
|
|
|
186 |
|
|
|
813 |
|
|
|
2,049 |
|
Service Adjusted EBITDA |
|
$ |
6,964 |
|
|
$ |
6,624 |
|
|
$ |
4,921 |
|
|
$ |
10,185 |
|
|
$ |
28,694 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distribution Operating Income |
|
$ |
1,008 |
|
|
$ |
31 |
|
|
$ |
688 |
|
|
$ |
964 |
|
|
$ |
2,691 |
|
+ Depreciation & Amortization |
|
|
1,711 |
|
|
|
1,944 |
|
|
|
1,979 |
|
|
|
1,851 |
|
|
|
7,485 |
|
+ Transaction Expense |
|
|
288 |
|
|
|
32 |
|
|
|
- |
|
|
|
22 |
|
|
|
342 |
|
+ Acquisition Contingent Consideration Adjustment |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(579 |
) |
|
|
(579 |
) |
+ Other (Expense) / Income |
|
|
(35 |
) |
|
|
(67 |
) |
|
|
60 |
|
|
|
(58 |
) |
|
|
(100 |
) |
+ Noncash Stock Compensation |
|
|
276 |
|
|
|
297 |
|
|
|
266 |
|
|
|
360 |
|
|
|
1,199 |
|
Distribution Adjusted EBITDA |
|
$ |
3,248 |
|
|
$ |
2,237 |
|
|
$ |
2,993 |
|
|
$ |
2,560 |
|
|
$ |
11,038 |
|
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 |
|
|
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 |
|
+ Acquisition Earn-Out Adjustment |
|
|
185 |
|
|
|
328 |
|
|
|
78 |
|
|
|
37 |
|
|
|
628 |
|
+ Transaction Expense |
|
|
- |
|
|
|
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 Expense |
|
|
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 Expense |
|
|
- |
|
|
|
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 |
|
|
$ |
3,286 |
|
|
$ |
2,357 |
|
|
$ |
4,464 |
|
|
$ |
14,515 |
|
+ Amortization of Intangible Assets |
|
|
1,749 |
|
|
|
1,888 |
|
|
|
1,879 |
|
|
|
2,906 |
|
|
|
8,422 |
|
+ Acquisition Amortization of Backlog |
|
|
24 |
|
|
|
4 |
|
|
|
- |
|
|
|
- |
|
|
|
28 |
|
+ Acquisition Deal Costs |
|
|
668 |
|
|
|
163 |
|
|
|
517 |
|
|
|
175 |
|
|
|
1,523 |
|
+ Income Tax Effect at |
|
|
(610 |
) |
|
|
(514 |
) |
|
|
(599 |
) |
|
|
(770 |
) |
|
|
(2,493 |
) |
+ Acquisition Contingent Comp Adjustment |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(836 |
) |
|
|
(836 |
) |
Adjusted Net Income |
|
$ |
6,239 |
|
|
$ |
4,827 |
|
|
$ |
4,154 |
|
|
$ |
5,939 |
|
|
$ |
21,159 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Average Diluted Shares Outstanding |
|
|
9,196 |
|
|
|
9,282 |
|
|
|
9,326 |
|
|
|
9,287 |
|
|
|
9,254 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Diluted Earnings Per Share |
|
$ |
0.48 |
|
|
$ |
0.35 |
|
|
$ |
0.25 |
|
|
$ |
0.48 |
|
|
$ |
1.57 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Adjusted Diluted Earnings Per Share |
|
$ |
0.68 |
|
|
$ |
0.52 |
|
|
$ |
0.45 |
|
|
$ |
0.64 |
|
|
$ |
2.29 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
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 |
|
|
367 |
|
|
|
602 |
|
|
|
343 |
|
|
|
339 |
|
|
|
1,651 |
|
+ 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 Q4 |
|
|
FY 2024 Q4 |
|
|
$'s |
|
|
% |
|
||||
Service Revenue |
|
$ |
52,010 |
|
|
$ |
46,732 |
|
|
$ |
5,278 |
|
|
|
11.3 |
% |
Cost of Revenue |
|
|
33,182 |
|
|
|
30,028 |
|
|
|
3,154 |
|
|
|
10.5 |
% |
Gross Profit |
|
$ |
18,828 |
|
|
$ |
16,704 |
|
|
$ |
2,124 |
|
|
|
12.7 |
% |
Gross Margin |
|
|
36.2 |
% |
|
|
35.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, Marketing & Warehouse Expenses |
|
$ |
5,743 |
|
|
$ |
4,490 |
|
|
$ |
1,253 |
|
|
|
27.9 |
% |
General and Administrative Expenses |
|
|
7,109 |
|
|
|
4,070 |
|
|
|
3,039 |
|
|
|
74.7 |
% |
Operating Income |
|
$ |
5,976 |
|
|
$ |
8,144 |
|
|
$ |
(2,168 |
) |
|
|
(26.6 |
)% |
% of Revenue |
|
|
11.5 |
% |
|
|
17.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change |
|
|||||
DISTRIBUTION |
|
FY 2025 Q4 |
|
|
FY 2024 Q4 |
|
|
$'s |
|
|
% |
|
||||
Distribution Revenue |
|
$ |
25,124 |
|
|
$ |
24,181 |
|
|
$ |
943 |
|
|
|
3.9 |
% |
Cost of Revenue |
|
|
18,039 |
|
|
|
16,850 |
|
|
|
1,189 |
|
|
|
7.1 |
% |
Gross Profit |
|
$ |
7,085 |
|
|
$ |
7,331 |
|
|
$ |
(246 |
) |
|
|
(3.4 |
)% |
Gross Margin |
|
|
28.2 |
% |
|
|
30.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, Marketing & Warehouse Expenses |
|
$ |
3,497 |
|
|
$ |
3,376 |
|
|
$ |
121 |
|
|
|
3.6 |
% |
General and Administrative Expenses |
|
|
2,624 |
|
|
|
2,895 |
|
|
|
(271 |
) |
|
|
(9.4 |
)% |
Operating Income |
|
$ |
964 |
|
|
$ |
1,060 |
|
|
$ |
(96 |
) |
|
|
(9.1 |
)% |
% of Sales |
|
|
3.8 |
% |
|
|
4.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change |
|
|||||
TOTAL |
|
FY 2025 Q4 |
|
|
FY 2024 Q4 |
|
|
$'s |
|
|
% |
|
||||
Total Revenue |
|
$ |
77,134 |
|
|
$ |
70,913 |
|
|
$ |
6,221 |
|
|
|
8.8 |
% |
Total Cost of Revenue |
|
|
51,221 |
|
|
|
46,878 |
|
|
|
4,343 |
|
|
|
9.3 |
% |
Gross Profit |
|
$ |
25,913 |
|
|
$ |
24,035 |
|
|
$ |
1,878 |
|
|
|
7.8 |
% |
Gross Margin |
|
|
33.6 |
% |
|
|
33.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, Marketing & Warehouse Expenses |
|
$ |
9,240 |
|
|
$ |
7,866 |
|
|
$ |
1,374 |
|
|
|
17.5 |
% |
General and Administrative Expenses |
|
|
9,733 |
|
|
|
6,965 |
|
|
|
2,768 |
|
|
|
39.7 |
% |
Operating Income |
|
$ |
6,940 |
|
|
$ |
9,204 |
|
|
$ |
(2,264 |
) |
|
|
(24.6 |
)% |
% of Revenue |
|
|
9.0 |
% |
|
|
13.0 |
% |
|
|
|
|
|
|
|
|
TRANSCAT, INC. Additional Information - Business Segment Data (Dollars in thousands) (Unaudited) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
Change |
|
|||||
|
|
FY 2025 |
|
|
FY 2024 |
|
|
|
|
|
|
|
|
|
||
SERVICE |
|
YTD |
|
|
YTD |
|
|
$'s |
|
|
% |
|
||||
Service Revenue |
|
$ |
181,428 |
|
|
$ |
169,525 |
|
|
$ |
11,903 |
|
|
|
7.0 |
% |
Cost of Revenue |
|
|
120,769 |
|
|
|
112,272 |
|
|
|
8,497 |
|
|
|
7.6 |
% |
Gross Profit |
|
$ |
60,659 |
|
|
$ |
57,253 |
|
|
$ |
3,406 |
|
|
|
5.9 |
% |
Gross Margin |
|
|
33.4 |
% |
|
|
33.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, Marketing & Warehouse Expenses |
|
$ |
19,013 |
|
|
$ |
16,942 |
|
|
$ |
2,071 |
|
|
|
12.2 |
% |
General and Administrative Expenses |
|
|
26,466 |
|
|
|
25,268 |
|
|
|
1,198 |
|
|
|
4.7 |
% |
Operating Income |
|
$ |
15,180 |
|
|
$ |
15,043 |
|
|
$ |
137 |
|
|
|
0.9 |
% |
% of Revenue |
|
|
8.4 |
% |
|
|
8.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change |
|
|||||
|
|
FY 2025 |
|
|
FY 2024 |
|
|
|
|
|
|
|
|
|
||
DISTRIBUTION |
|
YTD |
|
|
YTD |
|
|
$'s |
|
|
% |
|
||||
Distribution Revenue |
|
$ |
96,993 |
|
|
$ |
89,956 |
|
|
$ |
7,037 |
|
|
|
7.8 |
% |
Cost of Revenue |
|
|
68,199 |
|
|
|
63,403 |
|
|
|
4,796 |
|
|
|
7.6 |
% |
Gross Profit |
|
$ |
28,794 |
|
|
$ |
26,553 |
|
|
$ |
2,241 |
|
|
|
8.4 |
% |
Gross Margin |
|
|
29.7 |
% |
|
|
29.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, Marketing & Warehouse Expenses |
|
$ |
14,328 |
|
|
$ |
11,769 |
|
|
$ |
2,559 |
|
|
|
21.7 |
% |
General and Administrative Expenses |
|
|
11,772 |
|
|
|
10,046 |
|
|
|
1,726 |
|
|
|
17.2 |
% |
Operating Income |
|
$ |
2,694 |
|
|
$ |
4,738 |
|
|
$ |
(2,044 |
) |
|
|
(43.1 |
)% |
% of Sales |
|
|
2.8 |
% |
|
|
5.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change |
|
|||||
|
|
FY 2025 |
|
|
FY 2024 |
|
|
|
|
|
|
|
|
|
||
TOTAL |
|
YTD |
|
|
YTD |
|
|
$'s |
|
|
% |
|
||||
Total Revenue |
|
$ |
278,421 |
|
|
$ |
259,481 |
|
|
$ |
18,940 |
|
|
|
7.3 |
% |
Total Cost of Revenue |
|
|
188,968 |
|
|
|
175,675 |
|
|
|
13,293 |
|
|
|
7.6 |
% |
Gross Profit |
|
$ |
89,453 |
|
|
$ |
83,806 |
|
|
$ |
5,647 |
|
|
|
6.7 |
% |
Gross Margin |
|
|
32.1 |
% |
|
|
32.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, Marketing & Warehouse Expenses |
|
$ |
33,341 |
|
|
$ |
28,711 |
|
|
$ |
4,630 |
|
|
|
16.1 |
% |
General and Administrative Expenses |
|
|
38,238 |
|
|
|
35,314 |
|
|
|
2,924 |
|
|
|
8.3 |
% |
Operating Income |
|
$ |
17,874 |
|
|
$ |
19,781 |
|
|
$ |
(1,907 |
) |
|
|
(9.6 |
)% |
% of Revenue |
|
|
6.4 |
% |
|
|
7.6 |
% |
|
|
|
|
|
|
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20250519741764/en/
Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
Phone: (949) 491-8235
TRNS@mzgroup.us
www.mzgroup.us
Source: Transcat, Inc.
