FTG Posts Q2 Earnings Down 92.6% | Print |  E-mail
Written by Chelsey Drysdale   
Tuesday, 09 July 2013 21:42

TORONTOFiran Technology Group reported second-quarter sales of $14.2 million, down 1.1% year-over-year.

Net earnings for the period were $47,000, down 92.6% compared to the second quarter 2012.

Year-to-date sales for 2013 were $27.3 million, down 2.2% compared to the first half of 2012.

Year-to-date, the company recorded a net loss of $644,000, compared to net earnings of $669,000 for the same period last year.

The company's printed circuit board sales were down $1.4 million (13%) year-over-year in the second quarter, with the majority of the decrease coming at its Toronto facility. Sequentially, sales were up 3%. Year-to-date sales were down $2.5 million, or 12%, with the decrease spread among the Toronto and Chatsworth facilities.

Aerospace sales were up $1.2 million (31%) compared to the second quarter 2012 on increased shipments on a military simulator program, as well sales from two new facilities. Year-to-date sales were up $1.9 million (26%).

 

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