Transcat Inc. Q2 FY25 Revenue Hits $56.5M

TL;DR

Transcat Q2 revenue $56.5M, net income $9.2M. Slight growth.

AI Summary

Transcat Inc. reported its second quarter fiscal year 2025 results for the period ending September 28, 2024. The company's total revenues for the quarter were $56.5 million, with net income attributable to common shareholders of $9.2 million. This represents a slight increase in revenue compared to the prior year's comparable period.

Why It Matters

This filing provides insight into Transcat's financial performance, indicating revenue growth which could signal market demand for their services and products.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative trends.

Key Numbers

• $56.5M — Revenue (Q2 FY25 Total Revenue)
• $9.2M — Net Income (Q2 FY25 Net Income Attributable to Common Shareholders)
• 0.50 — EPS (Q2 FY25 Earnings Per Share)

Key Players & Entities

• TRANSCAT INC (company) — Filer
• 20240928 (date) — Period of Report
• $56.5 million (dollar_amount) — Total Revenues for Q2 FY25
• $9.2 million (dollar_amount) — Net Income Attributable to Common Shareholders for Q2 FY25

FAQ

Key Financial Figures

• $0.50 — ange on which registered Common Stock, $0.50 par value TRNS Nasdaq Global Market

Filing Documents

• trns20240928_10q.htm (10-Q) — 1461KB
• ex_721634.htm (EX-31.1) — 13KB
• ex_721635.htm (EX-31.2) — 13KB
• ex_721636.htm (EX-32.1) — 7KB
• 0001437749-24-033612.txt ( ) — 6524KB
• trns-20240928.xsd (EX-101.SCH) — 43KB
• trns-20240928_cal.xml (EX-101.CAL) — 46KB
• trns-20240928_def.xml (EX-101.DEF) — 303KB
• trns-20240928_lab.xml (EX-101.LAB) — 325KB
• trns-20240928_pre.xml (EX-101.PRE) — 329KB
• trns20240928_10q_htm.xml (XML) — 1174KB

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31 PART II. OTHER INFORMATION Item 6. Exhibits 33

SIGNATURES

SIGNATURES 35 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS TRANSCAT, INC. CONSOLIDATED STATEMENTS OF INCOME (In Thousands, Except Per Share Amounts) (Unaudited) (Unaudited) Second Quarter Ended Six Months Ended September 28, September 23, September 28, September 23, 2024 2023 2024 2023 Service Revenue $ 44,083 $ 41,431 $ 87,861 $ 81,284 Distribution Revenue 23,743 21,373 46,672 42,118 Total Revenue 67,826 62,804 134,533 123,402 Cost of Service Revenue 29,492 27,347 58,387 54,229 Cost of Distribution Revenue 17,128 15,332 32,285 30,338 Total Cost of Revenue 46,620 42,679 90,672 84,567 Gross Profit 21,206 20,125 43,861 38,835 Selling, Marketing and Warehouse Expenses 8,181 6,856 15,982 13,325 General and Administrative Expenses 9,290 11,626 19,045 19,227 Total Operating Expenses 17,471 18,482 35,027 32,552 Operating Income 3,735 1,643 8,834 6,283 Interest Expense 76 890 128 1,704 Interest Income ( 286 ) - ( 598 ) - Other Expense (Income) 232 ( 49 ) 363 15 Total Interest and Other Expense (Income), net 22 841 ( 107 ) 1,719 Income Before Provision For Income Taxes 3,713 802 8,941 4,564 Provision for Income Taxes 427 342 1,247 1,155 Net Income $ 3,286 $ 460 $ 7,694 $ 3,409 Basic Earnings Per Share $ 0.36 $ 0.06 $ 0.84 $ 0.44 Average Shares Outstanding 9,160 7,819 9,107 7,732 Diluted Earnings Per Share $ 0.35 $ 0.06 $ 0.83 $ 0.43 Average Shares Outstanding 9,282 7,948 9,222 7,840 See accompanying notes to consolidated financial statements. 1 Table of Contents TRANSCAT, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands) (Unaudited) (Unaudited) Second Quarter Ended Six Months Ended September 28, September 23, September 28, September 23, 2024 2023 2024 2023 Net Income $ 3,286 $ 460 $ 7,694 $ 3,409 Other Comprehensive (Loss) / Income : Currency Translation Adjustment 381 ( 352 ) 221 124 Other, net of tax effects of $ 1 and $ 2 for the second qua

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) NOTE 1 – GENERAL Description of Business: Transcat, Inc. ("Transcat," "we," "us," "our" or the "Company") is a leading provider of accredited calibration services, cost control and optimization services, and distribution and rental of value-added professional grade handheld test, measurement and control instrumentation. The Company is focused on providing services and products to highly regulated industries, particularly the life science industry, which includes pharmaceutical, biotechnology, medical device and other FDA-regulated businesses. Additional industries served include industrial manufacturing; energy and utilities, including oil and gas; chemical manufacturing; FAA-regulated businesses, including aerospace and defense and other industries that require accuracy in their processes, confirmation of the capabilities of their equipment, and for which the risk of failure is very costly. Basis of Presentation: Transcat's unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and in accordance with the instructions to Form 10 -Q and Rule 10 - 01 of Regulation S- X of the Securities and Exchange Commission ("SEC"). Accordingly, the Consolidated Financial Statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of the Company's management, all adjustments considered necessary for a fair presentation (consisting of normal recurring adjustments) have been included. The results for the interim periods are not necessarily indicative of what the results will be for the fiscal year. The accompanying Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements as of and for the fiscal year ended March 30, 2024 ("fiscal year 2024 ") contained in the Company's

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