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Transcat, Inc. 35 Vantage Point Drive • Rochester • NY • 14624 • Phone: (585) 352-7777
Transcat Reports 13% Operating Income Growth on
Record Revenue of $40.5 million for Fiscal 2018 Third Quarter
Service segment revenue up 7.5% all on organic growth
Service gross margin improved 30 basis points from productivity improvements
Record Distribution sales of $21.7 million
Achieved quarterly diluted earnings per share of $0.25; Reduced U.S. corporate tax rate contributed $0.04
ROCHESTER, NY, January 29, 2018 – Transcat, Inc. (NASDAQ: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, today reported financial results for its third quarter ended December 23, 2017 (the “third quarter”) of fiscal year 2018, which ends March 31, 2018 (“fiscal 2018”).
“We are pleased to report strong third quarter results in both segments. This quarter represents record results for our Distribution segment as momentum in our core sales as well as rentals continues to be strong. Our Service segment generated solid organic growth of 7.5% and delivered improved productivity with a 30 basis point increase in gross margin,” commented Lee D. Rudow, President and CEO. “Transcat continues to demonstrate results consistent with the effective execution of our strategic plan.”
|Third Quarter Fiscal 2018 Review||(Results are compared with the third quarter of the fiscal year ended |
March 25, 2017 (“fiscal 2017”))
|($ in thousands)||Change|
|FY18 Q3||FY17 Q3||$'s||%|
|Adjusted EBITDA* Margin||10.9||%||10.3||%|
|*See Note 1 on page 4 for a description of this non-GAAP financial measure and page 9 for the Adjusted EBITDA Reconciliation table.|
Transcat achieved record consolidated quarterly revenue of $40.5 million, up 7.1%. Consolidated gross profit grew by 8.8% and gross margin improved 40 basis points. General and Administrative expenses were up $0.5 million to $2.9 million, which reflected the Company’s continued investment in its infrastructure and operational excellence initiatives. Overall, operating income increased $0.3 million and operating margin increased 40 basis points to 6.6%.
The following information was filed by Transcat Inc (TRNS) on Tuesday, January 30, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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