Exhibit 99.1
(TRANSCAT LOGO)
 
Transcat, Inc. 35 Vantage Point Drive Rochester NY 14624 Phone: (585) 352–7777
Transcat Reports 46.2% Increase in Operating Income on Record Net Revenue for Fourth Quarter Fiscal 2010
  Product sales increased 20.5% and generated $0.7 million in operating profit
 
  Service segment revenue grew 30.6% and generated $0.6 million in operating profit
 
  Net income increased by 56.3% to $0.9 million
 
  Significant liquidity: Generated $5.6 million in cash from operations in fiscal 2010
ROCHESTER, NY, May 20, 2010 – Transcat, Inc. (Nasdaq: TRNS), a leading global distributor of professional grade handheld test and measurement instruments and accredited provider of calibration, repair and weighing system services, today reported financial results for its 2010 fiscal fourth quarter ended March 27, 2010.
Net revenue in the fourth quarter of fiscal 2010 was $23.5 million, an increase of 24.1% when compared with net revenue of $19.0 million in the fourth quarter of fiscal 2009. Service segment net revenue, which represented 37.5% of total net revenue, increased $2.1 million, or 30.6%, to $8.8 million in the fourth quarter of fiscal 2010, when compared with net revenue of $6.7 million in the prior year fourth quarter. Product segment net sales, representing the Company’s distribution business, were $14.7 million for the fourth quarter of fiscal 2010, an increase of $2.5 million, or 20.5%, when compared with net sales of $12.2 million in the same period of the prior fiscal year.
Net income was $0.9 million, or $0.12 per diluted share, in the fourth quarter of fiscal 2010, an increase from net income of $0.6 million, or $0.07 per diluted share, for the same period of the prior fiscal year. Net income was positively impacted by increased operating profits in excess of 40% in both of the Company’s Product and Service segments.
Charles P. Hadeed, President, CEO and COO of Transcat, commented, “We delivered outstanding results for the fourth quarter of fiscal 2010, reflective of the inherent strength of Transcat’s business strategy. The depth of our product and service offerings, coupled with our operational discipline, positioned us to better withstand a challenging macroeconomic environment, and to ultimately continue to build on the evidence of economic recovery we saw initiated in our third quarter.” Mr. Hadeed added, “Fourth quarter net revenue of $23.5 million is a record for the Company. Gross margin expansion in our Product segment and increased service volume were leveraged into significantly stronger operating and net income.”
Fourth Quarter Fiscal 2010 Review
On January 27, 2010, the Company acquired United Scale & Engineering Corporation (“United”), which is headquartered in Milwaukee, WI, with locations in Madison and Green Bay. United is Wisconsin’s largest independent supplier and servicer of industrial scales and weighing systems, serving Wisconsin, Northern Illinois and Upper Michigan. Strategically, the acquisition expands Transcat’s footprint in the Midwest and provides an additional cash-generating business. The Company’s results for the fourth quarter of fiscal 2010 include eight weeks of operations for United.
In the fourth quarter of fiscal 2010, gross profit was $6.4 million, or 27.3% of net revenue, compared with $5.0 million, or 26.6% of net revenue, in the same period of the prior fiscal year. Both the Product and Service segments contributed to the increase in gross profit, with respective increases of 29.1% and 25.4% for the quarter.
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The following information was filed by Transcat Inc (TRNS) on Friday, May 21, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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