Financial Performance - Consolidated revenue for Q2 FY2021 was $41.6 million, a decrease of 0.4% or $0.2 million compared to Q2 FY2020[64]. - Gross profit increased by $1.1 million or 10.0% to $11.5 million, with gross margin expanding by 260 basis points from 25.0% to 27.6%[65][77]. - Total operating expenses rose by $1.0 million or 13.9% to $8.4 million, representing 20.2% of total revenue, up from 17.7% in Q2 FY2020[66]. - Net income decreased by 14.9% to $2.0 million compared to $2.4 million in Q2 FY2020, primarily due to higher income tax provisions[67]. - Adjusted EBITDA for Q2 FY2021 was $5.2 million, a 9.1% increase from $4.8 million in Q2 FY2020, with Adjusted EBITDA as a percentage of revenue rising to 12.6%[87]. - Net income for the first six months of FY2021 was $2.8 million, a decrease of $1.3 million or 31.1% compared to the same period in FY2020, due to lower operating income and increased provision for income taxes[95]. - Adjusted EBITDA for the first six months of fiscal year 2021 was $8.7 million, flat compared to the same period in fiscal year 2020, with a margin of 10.8% versus 10.4%[99]. Revenue Breakdown - Service revenue accounted for 59.0% of total revenue in Q2 FY2021, increasing by 4.5% year-over-year, while Distribution sales decreased by 6.6%[69][74]. - Organic revenue for the Service segment declined by 0.8% when excluding acquired revenue of $1.2 million[69]. - Service revenue for the first six months of FY2021 was $47.5 million, a 3.5% increase from $45.9 million in the same period of FY2020, driven by demand from the Life Sciences market[88]. - Distribution sales decreased by $5.3 million, or 13.8%, in the first six months of FY2021 compared to the same period in FY2020, impacted by reduced demand due to the COVID-19 pandemic[90]. Profitability Analysis - The Service segment's gross profit increased by 31.4% to $7.9 million, while Distribution gross profit decreased by 18.9% to $3.6 million[76]. - Service gross profit in Q2 FY2021 increased by $1.9 million, or 31.4%, compared to Q2 FY2020, with a gross margin of 32.2%, a 660 basis point increase[78]. - Distribution gross margin was 21.1% in Q2 FY2021, down 320 basis points from 24.3% in Q2 FY2020, primarily due to lower volume and reduced cooperative advertising[80]. - Total gross profit for the first six months of FY2021 was $20.9 million, a 2.0% increase from $20.5 million in the same period of FY2020, with total gross margin improving to 26.0%[92]. Operating Expenses - Total operating expenses for Q2 FY2021 were $8.4 million, a 13.9% increase from $7.4 million in Q2 FY2020, with operating expenses as a percentage of total revenue rising to 20.2% from 17.7%[81]. - The effective tax rate for the first six months of FY2021 was 19.0%, up from 7.6% in FY2020, reflecting decreased discrete tax benefits from stock-based compensation[94]. Cash Flow and Capital Expenditures - Cash provided by operating activities increased significantly to $12.5 million in the first six months of fiscal year 2021, compared to $2.8 million in the same period of fiscal year 2020[109]. - Capital expenditures for fiscal year 2021 are expected to range between $5.5 million and $6.5 million, up from the previous estimate of $5.0 million to $5.5 million[119]. Financial Stability - The leverage ratio was 1.19 as of September 26, 2020, down from 1.53 at the end of fiscal year 2020, indicating improved financial stability[106]. - The company has $40 million available under its Revolving Credit Facility, with $11.1 million outstanding as of September 26, 2020[104]. - The interest rate on the Revolving Credit Facility ranged from 1.4% to 2.7% during the first six months of fiscal year 2021[121]. Tax and Foreign Exchange - The company revised its fiscal year 2021 income tax rate estimate to a range of 22% to 23%, up from the previous estimate of 20% to 21%[118]. - Approximately 90% of total revenues for the first six months of fiscal years 2021 and 2020 were denominated in U.S. dollars, with a 10% change in the Canadian dollar impacting revenue by approximately 1%[122]. - The company reported a loss of $0.1 million from foreign exchange forward contracts during the first six months of fiscal years 2021 and 2020[123]. - As of September 26, 2020, the company had a foreign exchange contract with a notional amount of $4.5 million, which was renewed in October 2020[123]. Internal Controls - There were no changes in internal control over financial reporting that materially affected the company during the last fiscal quarter[125]. - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period[124].

Transcat, Inc. (NASDAQ:TRNS) Q2 2020 Earnings Conference Call October 28, 2020 11:00 AM ET Company Participants Craig Mychajluk – Investor Relations Lee Rudow – President and Chief Executive Officer Mike Tschiderer – Chief Financial Officer Conference Call Participants Gerry Sweeney – ROTH Capital Dick Ryan – Dougherty Greg Palm – Craig-Hallum Capital Group Kara Anderson – B. Riley & Co. Chris Sakai – Singular Research Operator Greetings, and welcome to the Transcat, Inc. Second Quarter Fiscal Year 2021 Fin ...

Fiscal 2021 Q2 Financial Results | --- | --- | |-----------------------------------------------|-------| | | | | Lee D. Rudow President and CEO | | | Michael J. Tschiderer Chief Financial Officer | | | | | Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact and thus are subject to risks, uncertainties and assumptions. Forward-looking statements ...

Sep 23 2020 Sidoti Fall 2020 Virtual Conference | --- | --- | --- | |--------------------------------|-------|--------------| | | | | | Lee D. Rudow President and CEO | | | | | | | | | | | | Michael J. Tschiderer | | | | Chief Financial Officer | | | | | | | | | | | | | | | | | | | | | | | | | | Nasdaq: TRNS | Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of ...

☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: June 27, 2020 or For the transition period from __________ to __________ Commission File Number: 000-03905 (585) 352-7777 TRANSCAT, INC. (Exact name of registrant as specified in its chart ...

Transcat, Inc. (NASDAQ:TRNS) Q1 2021 Earnings Conference Call July 22, 2020 11:00 AM ET Company Representatives Lee Rudow - President, Chief Executive Officer Mike Tschiderer - Chief Financial Officer Craig Mychajluk - Investor Relations Conference Call Participants Dick Ryan - Colliers Greg Palm - Craig-Hallum Scott Buck - B. Riley Mitra Ramgopal - Sidoti & Co. Chris Sakai - Singular Operator Greetings! And welcome to today’s Transcat, First Quarter Fiscal Year 2021 Financial Results Conference Call. At th ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (State or other jurisdiction of (I.R.S. Employer For the fiscal year ended: March 28, 2020 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 000-03905 TRANSCAT, INC. (Mark one) (Exact name of registrant as specified in its charter) Ohio 16-0874418 [✓] ANNUAL REPORT PURSUANT TO SECTIO ...

Transcat, Inc. (NASDAQ:TRNS) Q4 2020 Earnings Conference Call May 20, 2020 11:00 AM ET Company Participants Craig Mychajluk - IR Lee Rudow - President and CEO Mike Tschiderer - CFO Conference Call Participants Gerry Sweeney - ROTH Capital Partners Dick Ryan - Dougherty & Company Mitra Ramgopal - Sidoti & Company Chris Sakai - Singular Research Operator Greetings and welcome to the Transcat Fourth Quarter Fiscal Year 2020 Financial Results Call. At this time, all participants are in a listen-only mode. A que ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) [✓] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: December 28, 2019 or [ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _______________ to _______________ Commission File Number: 000-03905 TRANSCAT, INC. (Exact name of registrant as specified in its ch ...

For the quarterly period ended: September 28, 2019 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) [✓] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 or [ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________ Commission File Number: 000-03905 TRANSCAT, INC. (Exact name of registrant as specified in its charter) Oh ...