Transcat Inc. (NASDAQ:TRNS) Q4 2020 Earnings Conference Call - Final Transcript

May 20, 2020 • 11:00 am ET


Transcat Inc. (NASDAQ:TRNS) Q4 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Transcat Fourth Quarter Fiscal Year 2020 Financial Results Call. [Operator Instructions] Please note this conference is being recorded.

I will now turn the conference over to our host Craig Mychajluk, Investor Relations for Transcat. Thank you may begin.

Craig Mychajluk

Thank you. And good morning, everyone. We certainly appreciate your time today and your interest in Transcat. With me on the call today, we have our President and Chief Executive Officer, Lee Rudow, and our Chief Financial Officer, Mike Tschiderer. After formal remarks, we will open the call for questions.

If you do not have our news release that crossed the wire after markets closed yesterday, it can be found on our website at Slides that accompany today's discussion are also on our website. If you would, please refer to Slide 2. As you are aware, we may make forward-looking statements during the formal presentation and Q&A portion of this teleconference. Those statements apply to future events, which are subject to risks and uncertainties as well as other factors that could cause the actual results to differ materially from where we are today.

These factors are outlined in the news release as well as with documents filed by the company with the Securities and Exchange Commission. You can find those on our website where we regularly post information about the company, as well as on the SEC's website at We undertake no obligation to publicly update or correct any of the forward-looking statements contained in this call, whether as a result of new information, future events or otherwise, except as required by law. Please review our forward-looking statements in conjunction with these precautionary factors.

I would like to point out as well that, during today's call, we will discuss certain non-GAAP measures which we believe will be useful in evaluating our performance. You should not consider the presentation of this additional information in isolation or as a substitute for results prepared in accordance with GAAP. We have provided reconciliations of non-GAAP to comparable GAAP measures in the tables accompanying the earnings release.

So, with that, let me turn the call over to Lee to begin the discussion. Lee?

Lee D. Rudow

Okay. Thank you, Craig. Good morning, everyone. Thank you for joining us on the call today. I hope you and your families are in good health. I'll start the call today with an overview of the fourth quarter results and how we ended fiscal 2020. I'll provide a quick look into the TTE Laboratories acquisition, which closed on February 21 about a month before the end of our fiscal year. Then, I'll turn things over to Mike to provide a closer look at the fourth quarter and the full-year financials before I return to speak to our outlook for fiscal 2021 and beyond.

Before I get started, I want to take a moment to tell you how proud I am of the Transcat organization for both the agile response and the measured actions taken to ensure the health