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Note 7 - Segment and Geographic Data
 12 Months Ended
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.