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Transcat, Inc. 35 Vantage Point Drive • Rochester • NY • 14624 • Phone: (585) 352-7777
Transcat Reports Record Third Quarter Revenue in Fiscal 2020
|●||Record third quarter consolidated revenue of $43.2 million in fiscal 2020|
|●||Solid Service segment organic revenue growth of 7.8% reflects continued market expansion, including within the highly regulated life sciences market|
|●||Distribution segment revenue growth of 3.5%|
|●||Generated $8.2 million in cash from fiscal year-to-date operations, up 13.6%|
ROCHESTER, NY, February 4, 2020 – Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, today reported financial results for its third quarter ended December 28, 2019 (the “third quarter”) of the fiscal year ending March 28, 2020 (“fiscal 2020”). Results include the previously reported acquisition of Gauge Repair Service, effective April 1, 2019.
Lee D. Rudow, President and CEO, commented, “We had solid growth in the third quarter, despite being heavily impacted by holiday timing that caused an unusually slow December. This low volume in the last month of our third quarter weighed on margins and masked the improvements we are seeing throughout the organization. Our Service operations are more efficient and our productivity metrics have improved over the course of this fiscal year, reflecting our focused efforts to hire and train an appropriate number of technicians to support our continued growth and to ensure customer satisfaction.
“We have a strong pipeline of organic and acquisition opportunities, and our performance metrics are a solid leading indicator of customer retention, all of which support belief in our execution and long-term strategy.”
|Third Quarter Fiscal 2020 Review||[Results are compared with the third quarter of the fiscal year ended March 30, 2019 (“fiscal 2019”)]|
|($ in thousands)||Change|
|FY20 Q3||FY19 Q3||$'s||%|
|Adjusted EBITDA* Margin||9.4||%||10.7||%|
*See Note 1 below for a description of this non-GAAP financial measure and the attached Adjusted EBITDA Reconciliation table.
The following information was filed by Transcat Inc (TRNS) on Wednesday, February 5, 2020 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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