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Note 7 - Segment and Geographic Data
 12 Months Ended
Mar. 30, 2024
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 2024, 2023 and 2022 (dollars in thousands):

 

  

FY 2024

  

FY 2023

  

FY 2022

 

Revenue:

            

Service

 $169,525  $144,883  $122,005 

Distribution

  89,956   85,686   82,954 

Total

  259,481   230,569   204,959 
             

Gross Profit:

            

Service

  57,253   46,638   38,921 

Distribution

  26,553   21,717   19,518 

Total

  83,806   68,355   58,439 
             

Operating Expenses:

            

Service (1)

  42,210   35,216   28,107 

Distribution (1)

  21,815   16,891   16,189 

Total

  64,025   52,107   44,296 
             

Operating Income:

            

Service

  15,043   11,422   10,814 

Distribution

  4,738   4,826   3,329 

Total

  19,781   16,248   14,143 
             

Unallocated Amounts:

            

Interest and Other Expense, net

  1,342   2,761   953 

Provision for Income Taxes

  4,792   2,799   1,810 

Total

  6,134   5,560   2,763 
             

Net Income

 $13,647  $10,688  $11,380 
             

Total Assets:

            

Service

 $134,415  $118,568  $109,472 

Distribution

  96,602   52,340   46,107 

Unallocated

  56,535   24,841   22,183 

Total

 $287,552  $195,749  $177,762 

 

Continued on next page

 

 

  

FY 2024

  

FY 2023

  

FY 2022

 

Depreciation and Amortization (2):

            

Service

 $9,193  $8,800  $7,543 

Distribution

  4,284   2,155   2,024 

Total

 $13,477  $10,955  $9,567 
             

Capital Expenditures:

            

Service

 $6,141  $5,569  $7,885 

Distribution

  7,139   3,845   2,267 

Total

 $13,280  $9,414  $10,152 
             

Geographic Data:

            

Revenues to Unaffiliated Customers (3):

            

United States (4)

 $235,117  $207,143  $187,165 

Canada

  16,666   16,468   14,623 

Other International

  7,698   6,958   3,171 

Total

 $259,481  $230,569  $204,959 
             

Property and Equipment:

            

United States (4)

 $33,507  $24,721  $22,042 

Canada

  5,415   4,326   4,397 

Other International

  22   17   - 

Total

 $38,944  $29,064  $26,439 

 

 

(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.