Transcat Inc. provides test, measurement, control and calibration services through Service and Distribution operations. Its Service segment covers calibration capabilities for customers in regulated markets, while its Distribution business markets, sells and rents new and used national and proprietary brand instruments, primarily in North America.
Company news commonly covers quarterly operating results, service organic growth, rental-driven distribution trends, acquisitions that expand calibration capacity and geography, and executive succession or compensation actions. Recent acquisition activity has added calibration laboratories in New England and Costa Rica, extending the company’s service footprint into Latin America.
Transcat reported a 14.4% increase in consolidated revenue to $54.7 million for Q1 fiscal 2023, with adjusted EBITDA rising 19.6% to $7.3 million. The service segment revenue surged by 22.9%, while organic growth stood at 8.6%. Diluted earnings per share decreased from $0.49 to $0.40, driven by higher operating expenses and an increased tax rate. Leadership changes include Mark Doheny as COO and Tom Barbato as CFO, aimed at supporting the company's growth strategy amid a robust demand environment.
Transcat, Inc. (NASDAQ: TRNS) will release its first quarter fiscal year 2023 results on August 1, 2022, after market close. A conference call is scheduled for August 2, 2022, at 11:00 a.m. ET, to discuss financial results and corporate strategy, including a Q&A session. Transcat specializes in accredited calibration and asset management services for regulated industries such as life sciences and aerospace. The company's operational footprint includes 25 calibration service centers across the U.S., Puerto Rico, Canada, and Ireland.
On June 3, 2022, Capital Tactics announced the sale of Alliance Calibration to Transcat, Inc. (Nasdaq: TRNS). This acquisition enhances Transcat's calibration services and expands its market reach. Alliance Calibration, established in 2000, is renowned for its ISO:17025 accredited calibration services across various sectors, including automotive and medical. Transcat's executives highlighted the strategic importance of this acquisition in enhancing customer service and expanding geographic footprint. Capital Tactics facilitated the deal through comprehensive advisory services.
Transcat, Inc. (NASDAQ: TRNS) has acquired substantially all assets of Alliance Calibration, LLC for $4.7 million, effective June 1, 2022. Alliance, based in Cincinnati, OH, generates approximately $2.5 million in annual revenue, offering ISO/IEC 17025-accredited calibrations in various industries. CEO Lee Rudow emphasizes that this acquisition will enhance service offerings and market presence in key regions. Transcat aims to leverage its combined services and distribution capabilities for organic growth and expansion through similar acquisitions.
Transcat reported a strong fiscal 2022, achieving consolidated revenue of $55.9 million, a 14.6% increase year-over-year. Full-year revenue exceeded $200 million for the first time, with service segment revenue up 20.5%. Fourth-quarter diluted EPS was $0.40, while adjusted EPS rose to $0.54, reflecting a 46% increase. Despite challenges from the COVID-19 Omicron variant affecting operations early in the year, the company noted strong demand and successful acquisitions enhancing its market position and operational efficiency.
Transcat, Inc. (NASDAQ: TRNS) will release its fourth quarter and full fiscal year 2022 results after market close on May 23, 2022. A conference call will be held on May 24, 2022, at 11:00 a.m. ET to discuss the results and corporate strategy. The company focuses on accredited calibration services and asset management, serving highly regulated industries including life sciences, aerospace, and utilities. Transcat operates 23 calibration service centers across North America, enhancing its market position and customer service capabilities.
Transcat, Inc. (NASDAQ: TRNS) will present at the Sidoti Small Cap Virtual Investor Conference on March 23 and 24, 2022. CEO Lee D. Rudow and CFO Mark A. Doheny will be available for investor meetings, with the presentation scheduled for March 23 at 12:15 p.m. ET. A live webcast and presentation materials can be accessed on the company's investor relations page. Transcat specializes in accredited calibration, enterprise asset management, and distribution of test instrumentation, serving highly regulated industries including life sciences and aerospace.
Transcat, Inc. (TRNS) reported third-quarter revenue of $50.9 million, a 15.5% increase from the previous year. The service segment's organic revenue grew by 10.2%, contributing to a gross margin expansion of 180 basis points to 29.7%. Adjusted EBITDA rose by 20% to $5.5 million. Despite robust demand, the distribution segment's revenue growth of 7.2% was below expectations due to longer vendor lead times. The company anticipates continued strong performance in the upcoming fiscal quarter and maintains a healthy backlog of $9 million.
Transcat, Inc. (NASDAQ: TRNS) will announce its third quarter fiscal year 2022 results on February 1, 2022, after market close. The company will host a conference call on February 2, 2022, at 11:00 a.m. ET, to review financial and operational results alongside its corporate strategy and future outlook. Transcat, a leader in providing calibration, repair, and laboratory services, aims to leverage its dual service and distribution segments to fuel organic sales growth and expand its market share through strategic acquisitions.
Transcat, Inc. (Nasdaq: TRNS) has acquired Tangent Labs, LLC for $9 million, effective December 31, 2021. Tangent, specializing in precision calibration for regulated sectors such as life science and aerospace, generates approximately $2.2 million in annual revenue. This acquisition aligns with Transcat's expansion strategy, providing new presences in key markets, particularly in Indiana and Huntsville, Alabama. Kevin Broderick, Tangent's owner, will integrate into Transcat's leadership, enhancing the company's existing service capabilities to drive further profitability.