Exhibit 99.1

IMMEDIATE RELEASE

Transcat Reports 15% Operating Income Growth on Record Revenue
in Second Quarter Fiscal 2017

ROCHESTER, NY, October 25, 2016 – Transcat, Inc. (NASDAQ: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, today reported financial results for its fiscal year 2017 (“fiscal 2017”) second quarter, which ended September 24, 2016.

Lee D. Rudow, President and CEO, commented, “We are building momentum in fiscal 2017 as demonstrated by our solid results for the second quarter. Our Service segment continues to show steady progress with revenue growth from both organic initiatives, particularly related to life sciences, and recent acquisitions. We expect Service segment margins to improve over time as our actions to integrate recent acquisitions and capture operational synergies take hold. We are pleased with the positive traction in Distribution as that segment’s revenue improved 15%. We benefited from incremental used equipment sales and rental business from our April 2016 acquisition of Excalibur Engineering, Inc. (“Excalibur”) as well as from traditional Transcat customers, particularly from the alternative energy space.”

Second Quarter Fiscal 2017 Review (Results are compared with the second quarter of fiscal 2016)

Transcat achieved record quarterly revenue of $34.5 million in the second quarter driven by growth in both business segments. Higher revenue and gross profit resulted in 15.2% growth in operating income. Operating margin was consistent at 4.6%. Net income improved 2.1% to $0.9 million.

Transcat Reports 15% Operating Income Growth on Record Revenue in Second Quarter Fiscal 2017
October 25, 2016
Page 2 of 10

Service revenue increased 19.4%, driven by a combination of organic and acquisition-related growth. On a trailing twelve-month basis, Service segment revenue was $65.6 million, up 19.7% compared with the corresponding trailing twelve-month period of fiscal 2016. The Company believes that trailing twelve-month data is an informative measure of the long-term progress of the Service segment.

Service segment gross margin and operating margin were negatively affected by softness in the Canadian market, particularly the aerospace sector. Segment operating margin was also negatively affected by an increased allocation of general and administrative costs and higher selling costs.

Distribution segment sales growth was driven by a combination of solid organic growth, including an increase in demand from alternative energy markets, incremental sales from the acquisition of Excalibur, and the expansion of the Company’s higher margin rental business. Higher revenue with an improved customer mix and increased rental business combined with a reduced allocation of general and administrative costs helped drive segment operating margin up 100 basis points.

Transcat Reports 15% Operating Income Growth on Record Revenue in Second Quarter Fiscal 2017
October 25, 2016
Page 3 of 10

Six Month Review (Results are compared with the first six months of fiscal 2016)

Total revenue increased 14.3%, or $8.5 million, to $67.6 million. Consolidated gross profit was $16.3 million, up 17.9%, while gross margin increased 80 basis points to 24.1%. As a percentage of total revenue, consolidated operating expenses were 19.6%, up 40 basis points. Operating income improved 25.8%, or $0.6 million, to $3.0 million. Net income was $1.7 million, or $0.24 per diluted share, compared with $1.5 million, or $0.21 per diluted share. Adjusted EBITDA improved 46.0% to $6.4 million. See Note 1 on page 3 for a description of this non-GAAP financial measure and page 9 for the Adjusted EBITDA Reconciliation table.

Strong and Flexible Balance Sheet to Support Growth Strategy

At September 24, 2016, the Company had total debt of $23.8 million, with $15.6 million available under its secured revolving credit facility. Debt levels were down $3.6 million from the end of the first quarter of fiscal 2017. Capital expenditures in the second quarter were $1.5 million and year-to-date were $2.5 million. Investments were primarily for assets for the Company’s rental business and expanded Service segment capabilities. Transcat continues to expect capital expenditures will be approximately $5.0 million to $5.5 million in fiscal 2017.

Outlook

Mr. Rudow concluded, “We continue to be pleased with our recent acquisitions and how they position our Company for growth in revenue and profitability as we further integrate them and drive sales and cost synergies. Organic growth will also continue to be a focus throughout the remainder of the year, and we are encouraged by the opportunities in front of us.

“We anticipate solid third quarter results, though on a comparative basis they will be somewhat muted given the third quarter last year benefited from performance-based compensation expense adjustments. For our fourth quarter and full fiscal year period we expect strong consolidated results.”

Webcast and Conference Call

Transcat will host a conference call and webcast on Wednesday, October 26, 2016 at 11:00 a.m. ET. Management will review the financial and operating results for the quarter, as well as the Company’s strategy and outlook. A question and answer session will follow the formal discussion. The review will be accompanied by a slide presentation, which will be available at www.transcat.com/investor-relations. The conference call can be accessed by calling (201) 689-8471. Alternatively, the webcast can be monitored at www.transcat.com/investor-relations.

A telephonic replay will be available from 2:00 p.m. ET on the day of the call through Wednesday, November 2, 2016. To listen to the archived call, dial (858) 384-5517 and enter conference ID number 13645487, or access the webcast replay at www.transcat.com/investor-relations, where a transcript will be posted once available.

NOTE 1 – Non-GAAP Financial Measures

In addition to reporting net income, a U.S. generally accepted accounting principle (“GAAP”) measure, we present Adjusted EBITDA (earnings before interest, income taxes, depreciation and amortization, and non-cash stock compensation expense), which is a non-GAAP measure. The Company’s management believes Adjusted EBITDA is an important measure of operating performance because it allows management, investors and others to evaluate and compare the performance of its core operations from period to period by removing the impact of the capital structure (interest), tangible and intangible asset base (depreciation and amortization), taxes, and stock-based compensation expense, which is not always commensurate with the reporting period in which it is included. Adjusted EBITDA is not calculated through the application of GAAP and is not the required form of disclosure by the Securities and Exchange Commission. As such, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies. See the attached Adjusted EBITDA Reconciliation table on page 8.

Transcat Reports 15% Operating Income Growth on Record Revenue in Second Quarter Fiscal 2017
October 25, 2016
Page 4 of 10

Contribution margin, a non-GAAP financial measure, consists of gross profit less selling, marketing and warehouse expenses. Management believes contribution margin provides management, investors and others information about our ability to cover our operating costs, such as technology and general and administrative expenses, while reflecting the selling costs we incurred to generate our revenue. Contribution margin is used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. The material limitation associated with the use of contribution margin is that it is an incomplete measure of profitability as it does not include all operating expenses or non-operating income and expenses. Management compensates for these limitations when using this measure by looking at other GAAP measures, such as operating income (loss) and net income (loss). For further details on contribution margin, see the calculation of this non-GAAP financial measure and the reconciliation of contribution margin to gross profit in the Additional Information – Business Segment Data table on pages 9 and 10.

ABOUT TRANSCAT

Transcat, Inc. is a leading provider of accredited calibration, repair, inspection and laboratory instrument services. The Company is focused on providing best-in-class services and products to highly regulated industries, including life science, aerospace and defense, pharmaceutical, medical device manufacturing and biotechnology. Transcat provides permanent and periodic on-site services, mobile calibration services and in-house services through 20 Calibration Service Centers strategically located across the United States, Puerto Rico and Canada. The breadth and depth of measurement parameters addressed by Transcat’s ISO/IEC 17025 scopes of accreditation are believed to be the best in the industry.

Transcat also operates as a leading value-added distributor that markets, sells and rents national and proprietary brand instruments to customers globally. Its e-commerce focused website and product catalog offer access to more than 100,000 test, measurement and control instruments, including products from approximately 540 leading manufacturers.

Transcat’s growth strategy is to leverage its service capabilities, strong brand and leading distribution platform to drive organic sales growth and to expand its addressable calibration market through acquisitions and capability investments to further realize the inherent leverage of its business model.

More information about Transcat can be found on its website at: Transcat.com.

For more information contact:

FINANCIAL TABLES FOLLOW.

Transcat Reports 15% Operating Income Growth on Record Revenue in Second Quarter Fiscal 2017
October 25, 2016
Page 5 of 10

TRANSCAT, INC.
CONSOLIDATED STATEMENTS OF INCOME
(In Thousands, Except Per Share Amounts)

Transcat Reports 15% Operating Income Growth on Record Revenue in Second Quarter Fiscal 2017
October 25, 2016
Page 6 of 10

TRANSCAT, INC.
CONSOLIDATED BALANCE SHEETS
(In Thousands, Except Share and Per Share Amounts)

Transcat Reports 15% Operating Income Growth on Record Revenue in Second Quarter Fiscal 2017
October 25, 2016
Page 7 of 10

TRANSCAT, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Thousands)
(Unaudited)

Transcat Reports 15% Operating Income Growth on Record Revenue in Second Quarter Fiscal 2017
October 25, 2016
Page 8 of 10

TRANSCAT, INC.
Adjusted EBITDA Reconciliation Table
(Dollars in thousands)
(Unaudited)

Transcat Reports 15% Operating Income Growth on Record Revenue in Second Quarter Fiscal 2017
October 25, 2016
Page 9 of 10

TRANSCAT, INC.
Additional Information - Business Segment Data
(Dollars in thousands)
(Unaudited)

Transcat Reports 15% Operating Income Growth on Record Revenue in Second Quarter Fiscal 2017
October 25, 2016
Page 10 of 10

TRANSCAT, INC.
Additional Information - Business Segment Data
(Dollars in thousands)
(Unaudited)