TORONTO, ONTARIO – Firan Technology Group reported fourth quarter sales at its PCB unit rose $1.5 million, or 10.7%, compared to the same period in 2015.

Full-year 2016 printed circuit sales were up $2.5 million, or 4.6%, year-over-year.

For the aerospace segment, fourth quarter sales were up $7 million, or 144.7%, compared to the same quarter the prior year. 2016 sales for the segment were $30.3 million, an increase of 70.8% year-over-year.

FTG’s total sales in the fourth quarter were $27.2 million, up 45.3% year-over-year. Net earnings after tax were $630,000, compared to $6.4 million in 2015. Operating earnings were $2.3 million, down nearly 10% year-over-year.

FTG’s overall sales increased 20.9% in 2016 to $87.1 million. Net profit was $5.9 million, a decrease of 38% year-over-year.

"The year 2016 saw a dramatic change in FTG with the completion of two acquisitions," said Brad Bourne, president and CEO. "As we transition the revenue from these acquisitions to existing FTG facilities, we will drive up utilization rates and see increased profitability."

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