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FTG Up 8% in Q2 2008
Written by Kathy Nargi-Toth
Friday, 11 July 2008
TORONTO -- Firan Technology Group Corporation announced net sales increased by $1,195,000 or 8%, from $15,263,000 in the second quarter of 2007 to $16,458,000 in the second quarter of 2008.
The Circuits Segment revenue was up $801,000 or 7% over the same period last year. The Aerospace segment, sales were $3,711,000 compared to $3,317,000 in the second quarter of 2007, an increase of $394,000 or 12%.
For the year-to-date, the corporation’s revenues are up $882,000 or 3% versus the same period last year.
The book-to-bill for the corporation was 0.93:1. The book-to-bill was 0.95:1 for FTG Circuits and 0.84:1 for FTG Aerospace. Total backlog of orders at the end of the second quarter were $15 million.
Gross margin increased by $499,000 to $4,388,000 or 27% of sales for the second quarter of 2008 attributable to the higher revenue and the ongoing focus on higher technology products offset by the impact of the exchange rate and material cost increases.
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