Transcat Q1 revenue $54.7M (+14.4%), service rev +23%; appoints new COO and CFO

TRANSCAT INC

2023-Q1 EPS reported $0.40 revenue$54,661,000

Consolidated revenue $54.7M (+14.4% YoY); service revenue up 22.9% (organic +8.6%).
GAAP diluted EPS $0.40; adjusted diluted EPS $0.54; adjusted EBITDA $7.3M (+19.6%).
Service gross margin expanded to 32.0%; distribution gross margin up 140 bps to 25.0%.
Record distribution backlog $9.0M (+17% from fiscal year end); demand healthy despite supply chain.
Mark Doheny appointed COO; Tom Barbato named CFO (base $275k, 40% target incentive).

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Thomas L. Barbato

Chief Financial Officer and Treasurer

TRNS · TRANSCAT INC

Effective: 2022-08-01
Filed: August 2, 2022, 7:59 PM ET

Additionally, as of the Effective Date, Thomas L. Barbato has been appointed as the Company’s Chief Financial Officer and Treasurer.

Role change

Mark A. Doheny

Chief Operating Officer

TRNS · TRANSCAT INC

Effective: 2022-08-01
Successor: Thomas L. Barbato
Filed: August 2, 2022, 7:59 PM ET

Effective August 1, 2022 (the “Effective Date”), Mark A. Doheny has been appointed as the Company’s Chief Operating Officer, having formerly served as the Company’s Chief Financial Officer and Treasurer until such date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas L. Barbato was appointed as Chief Financial Officer and Treasurer at TRANSCAT INC.

Action: appointed
Role: Chief Financial Officer and Treasurer

Exact text from the filing

Additionally, as of the Effective Date, Thomas L. Barbato has been appointed as the Company’s Chief Financial Officer and Treasurer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark A. Doheny was appointed as Chief Operating Officer at TRANSCAT INC.

Action: appointed
Role: Chief Operating Officer

Exact text from the filing

Effective August 1, 2022 (the “Effective Date”), Mark A. Doheny has been appointed as the Company’s Chief Operating Officer, having formerly served as the Company’s Chief Financial Officer and Treasurer until such date.

View on SEC.gov

TRANSCAT INC filing history →

Source: SEC EDGAR

accession 0001206774-22-001877

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