TORONTO – Firan Technology Group reported fourth quarter Circuits Segment sales were $18.6 million, up 7% year-over-year.

In September, sales were impacted by a cyberattack that impacted systems across North America.

In 2019, Circuits Segment sales were $71.4 million, an increase of 11.5% compared to 2018. Net earnings before corporate and interest and other costs were $12 million, up 27.7% year-over-year.

FTG’s total fourth quarter sales were $27.1 million, down 3.2% compared to the same period in 2018.

Full-year total sales were $112.7 million, an increase of 7.8% year-over-year. EBITDA was $14.6 million, up 39%. Net income was $6.1 million, an increase of 111% over 2018.

At year end, FTG had net cash of $2.2 million on the balance sheet.

FTG’s China sites were not impacted by the cyberattack but were impacted by measures taken by the Chinese government to control the spread of the coronavirus outbreak and are expected to lose approximately 10 days of production in the first quarter this year.

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