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Note 7 - Segment and Geographic Data | 12 Months Ended
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Mar. 25, 2023
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE 7 – SEGMENT AND GEOGRAPHIC DATA 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 fiscal years 2023, 2022 and 2021 (dollars in thousands):
|  | FY 2023 |  |  | FY 2022 |  |  | FY 2021 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Service |  | $ | 144,883 |  |  | $ | 122,005 |  |  | $ | 101,274 |
Distribution |  |  | 85,686 |  |  |  | 82,954 |  |  |  | 72,061 |
Total |  |  | 230,569 |  |  |  | 204,959 |  |  |  | 173,335 |
Gross Profit: |  |  |  |  |  |  |  |  |  |  |  |
Service |  |  | 46,638 |  |  |  | 38,921 |  |  |  | 30,695 |
Distribution |  |  | 21,717 |  |  |  | 19,518 |  |  |  | 15,423 |
Total |  |  | 68,355 |  |  |  | 58,439 |  |  |  | 46,118 |
Operating Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Service (1) |  |  | 35,216 |  |  |  | 28,107 |  |  |  | 20,254 |
Distribution (1) |  |  | 16,891 |  |  |  | 16,189 |  |  |  | 14,791 |
Total |  |  | 52,107 |  |  |  | 44,296 |  |  |  | 35,045 |
Operating Income: |  |  |  |  |  |  |  |  |  |  |  |
Service |  |  | 11,422 |  |  |  | 10,814 |  |  |  | 10,441 |
Distribution |  |  | 4,826 |  |  |  | 3,329 |  |  |  | 632 |
Total |  |  | 16,248 |  |  |  | 14,143 |  |  |  | 11,073 |
Unallocated Amounts: |  |  |  |  |  |  |  |  |  |  |  |
Interest and Other Expense, net |  |  | 2,761 |  |  |  | 953 |  |  |  | 1,091 |
Provision for Income Taxes |  |  | 2,799 |  |  |  | 1,810 |  |  |  | 2,191 |
Total |  |  | 5,560 |  |  |  | 2,763 |  |  |  | 3,282 |
Net Income |  | $ | 10,688 |  |  | $ | 11,380 |  |  | $ | 7,791 |
Total Assets: |  |  |  |  |  |  |  |  |  |  |  |
Service |  | $ | 118,568 |  |  | $ | 109,472 |  |  |  |  |
Distribution |  |  | 52,340 |  |  |  | 46,107 |  |  |  |  |
Unallocated |  |  | 24,841 |  |  |  | 22,183 |  |  |  |  |
Total |  | $ | 195,749 |  |  | $ | 177,762 |  |  |  |  |
Continued on next page
|  | FY 2023 |  |  | FY 2022 |  |  | FY 2021 |
Depreciation and Amortization (2): |  |  |  |  |  |  |  |  |  |  |  |
Service |  | $ | 8,800 |  |  | $ | 7,543 |  |  | $ | 5,597 |
Distribution |  |  | 2,155 |  |  |  | 2,024 |  |  |  | 1,983 |
Total |  | $ | 10,955 |  |  | $ | 9,567 |  |  | $ | 7,580 |
Capital Expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Service |  | $ | 5,569 |  |  | $ | 7,885 |  |  | $ | 4,236 |
Distribution |  |  | 3,845 |  |  |  | 2,267 |  |  |  | 2,381 |
Total |  | $ | 9,414 |  |  | $ | 10,152 |  |  | $ | 6,617 |
Geographic Data: |  |  |  |  |  |  |  |  |  |  |  |
Revenues to Unaffiliated Customers (3): |  |  |  |  |  |  |  |  |  |  |  |
United States (4) |  | $ | 207,143 |  |  | $ | 187,165 |  |  | $ | 159,270 |
Canada |  |  | 16,468 |  |  |  | 14,623 |  |  |  | 13,040 |
Other International |  |  | 6,958 |  |  |  | 3,171 |  |  |  | 1,025 |
Total |  | $ | 230,569 |  |  | $ | 204,959 |  |  | $ | 173,335 |
Property and Equipment: |  |  |  |  |  |  |  |  |  |  |  |
United States (4) |  | $ | 24,721 |  |  | $ | 22,042 |  |  | $ | 19,897 |
Canada |  |  | 4,326 |  |  |  | 4,397 |  |  |  | 2,306 |
Other International |  |  | 17 |  |  |  | - |  |  |  | - |
Total |  | $ | 29,064 |  |  | $ | 26,439 |  |  | $ | 22,203 |
| (1) | Operating expense allocations between segments are based on actual amounts, a percentage of revenues, headcount, and management’s estimates.
| (2) | Including amortization of catalog costs and intangible assets.
| (3) | Revenues are attributed to the countries based on the destination of a product shipment or the location where service is rendered.
| (4) | United States includes Puerto Rico.

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