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SEGMENT INFORMATION
 3 Months Ended
Jun. 25, 2022
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 4 – SEGMENT INFORMATION

 

The basis for determining our operating segments is the manner in which financial information is used in monitoring our operations. Transcat has two reportable segments: Service and Distribution. Through our Service segment, we offer calibration, repair, inspection, analytical qualifications, preventative maintenance, consulting and other related services. Through our Distribution segment, we sell and rent national and proprietary brand instruments to customers globally. The Company has no inter-segment sales. We believe that reporting performance at the operating income level is the best indicator of segment performance. The following table presents segment and geographic data for the first quarter of fiscal year 2023 and fiscal year 2022 (dollars in thousands):

 

   First Quarter Ended 
   June 25   June 26, 
   2022   2021 
Revenue:        
Service  $33,876   $27,557 
Distribution   20,785    20,233 
Total   54,661    47,790 
           
Gross Profit:          
Service   10,835    8,752 
Distribution   5,203    4,768 
Total   16,038    13,520 
           
Operating Expenses:          
Service (1)   8,303    5,778 
Distribution (1)   4,131    4,053 
Total   12,434    9,831 
           
Operating Income:          
Service   2,532    2,974 
Distribution   1,072    715 
Total   3,604    3,689 
           
Unallocated Amounts:          
 Interest and Other Expense, net   156    195 
Provision for (Benefit from) Income Taxes   376    (194)
Total   532    1 
           
Net Income  $3,072   $3,688 
           
Geographic Data:          
Revenues to Unaffiliated Customers (2):          
United States (3)  $48,998   $43,912 
Canada   3,986    3,646 
Other International   1,677    232 
Total  $54,661   $47,790 

 

(1)Operating expense allocations between segments are based on actual amounts, a percentage of revenues, headcount, and management’s estimates.
(2)Revenues are attributed to the countries based on the destination of a product shipment or the location where service is rendered.
(3)United States includes Puerto Rico.