Transcat, Inc. (TRNS) Tops Q4 EPS by 10c, Revenues Beat
- Nasdaq hits record high as Big Tech roars back
- Sanderson Farms (SAFM) Explores Sale - Report
- Bitcoin (BTC) Cracks $30,000 to Hit 6-Month Low, Here Are Next Targets Lower
- Dollar edges higher before Powell; Bitcoin drops
- Splunk (SPLK) Lands $1 Billion From Silver Lake, Announces Buyback One Day After Activist Rumors Surface
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Transcat, Inc. (NASDAQ: TRNS) reported Q4 EPS of $0.42, $0.10 better than the analyst estimate of $0.32. Revenue for the quarter came in at $48.76 million versus the consensus estimate of $46.18 million.
“Our fourth quarter results were stronger than expected and allowed us to achieve record fourth quarter and full year revenue, operating income and cash flow, a remarkable achievement in the midst of the global COVID-19 pandemic,” commented Lee D. Rudow, President and CEO. “Our Service segment delivered another excellent quarter, growing revenue 15.8% and increasing gross margin by 500 basis points from the prior-year period. We reported double-digit organic revenue growth of 10% as our strategy to capture share in highly-regulated end markets, including Life Sciences, continues to serve us well. Our gross margin improvement was driven by technician productivity, operating leverage on our fixed costs and strong performances from our recent acquisitions.”
“We were encouraged by improvement in our Distribution business, with fourth quarter revenue declining 4.6% to $19.8 million, the best quarterly result of fiscal 2021. Overall, our Service segment performance drove fourth quarter consolidated operating income of $4.5 million, exceeding our expectations and growing 21% from prior year. We also achieved two important Service segment milestones, surpassing $100 million in revenue and 30% gross margin for the full year.”
He added, “We generated cash flow from operations of $23.6 million for the full year, a company record and double the cash we generated in fiscal 2020. We used our cash to pay down debt, fund technology investments and execute our acquisition strategy. In April 2021, we acquired Upstate Metrology, a Rochester, NY-based calibration service provider with approximately $1 million in annual revenue. We plan to leverage our current infrastructure and consolidate the business into our main Rochester lab.”
For earnings history and earnings-related data on Transcat, Inc. (TRNS) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Best Solar Stocks to Invest in 2021? Wall Street Weighs In
- Aeglea BioTherapeutics (AGLE) Appoints Marcio Souza to Board of Directors
- Pre-Open Stock Movers 06/22: (SAFM) (SPLK) (GME) Higher; (MVIS) (MSTR) (MARA) Lower (more...)
Create E-mail Alert Related CategoriesCorporate News, Earnings, Management Comments
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!