TRANSCAT INC
For the period ended May 21, 2024. Filed May 21, 2024.
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May 21, 2024 · Filed May 21, 2024
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EX-99.1 · Distribution segment shows continued margin improvement
Distribution segment shows continued margin improvement
Represents the sale and rental of new and used professional grade handheld test, measurement and control instrumentation (34.1% of total revenue for the fourth quarter of fiscal 2024).
| ($ in thousands) | Change | |||
|---|---|---|---|---|
| FY24 Q4 | FY23 Q4 | $'s | % | |
| Distribution Segment Sales | $24,181 | $22,304 | $1,877 | 8.4% |
| Gross Profit | $7,331 | $5,627 | $1,704 | 30.3% |
| Gross Margin | 30.3% | 25.2% | ||
| Operating Income | $1,060 | $1,308 | $(248) | (19.0)% |
| Operating Margin | 4.4% | 5.9% | ||
| Adjusted EBITDA* | $2,941 | $1,959 | $982 | 50.1% |
| Adjusted EBITDA* Margin | 12.2% | 8.8% | ||
*See Note 1 on page 5 for a description of this non-GAAP financial measure and pages 10 and 11 for the Adjusted EBITDA Reconciliation tables.
Distribution sales were$24.2 million, an increase of 8.4% on improved end market demand and strength in our Rentals business. Distribution segment gross margin was 30.3%, an increase of 510 basis points due to a favorable sales mix driven by strength in the Rentals business.
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