Page 11 - Transcat Blog

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

• 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

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.

• Record fourth quarter and full fiscal year revenue of $45.8 million and $173.1 million, respectively
• Service segment continued to deliver revenue growth of 2.9% and 10.7% in the fourth quarter and fiscal 2020, respectively, despite COVID-19 impact in the latter half of the fourth quarter
• Service segment gross margin expanded 120 basis points to 28.9% in the fourth quarter; up 40 basis points for the fiscal year
• Achieved record net income of $8.1 million, or $1.08 per diluted share, in fiscal 2020

ROCHESTER, NY, May 6, 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 fourth quarter and full fiscal year 2020 results after the close of financial markets on Tuesday, May 19, 2020.

April 29th, 2020: An Updated Letter on COVID-19 and Our Commitment to You from President & CEO, Lee Rudow

I wanted to take a moment to reach out with an update on Transcat’s response to the COVID-19 pandemic. We take the health and safety of our customers and employees very seriously, and it remains a top priority for our leadership team. I am reaching out to update you on our response, and how we continue to support you through this difficult time.

ROCHESTER, NY, March 30, 2020 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and valueadded distributor of professional grade handheld test, measurement and control instrumentation, provided an update on its operations and actions to address the COVID-19 pandemic.

We understand that calibration may be an essential part of your supply chain. As an essential business, Transcat is here to offer you uninterrupted services through our network of calibration labs across North America.

Transcat Calibration Pick up & Delivery Service

FLIR Thermal Imagers FAQ for Elevated Body Temperature Screenings

March 19th, 2020 Update: Transcat’s Response to the Coronavirus Pandemic from President & CEO, Lee Rudow

Update Transcat's approach around the Coronavirus