TORONTO -- Firan Technology Group swung to a third-quarter net profit of $138,000, erasing much of the $265,000 loss from a year ago.

For the period ended Aug. 28, revenue rose 14% sequentially and 2.4% year-over-year to $13.2 million. The gross margin was 30%, up six points from a year ago, and the book-to-bill ratio for the quarter was 1.02.Recorded $138,000 net income or almost $500,000 before one time costs

"We are pleased with the increasing activity across FTG and our return to profitability. Our results remained strong in our Circuits - Toronto business, Aerospace improved and Circuits - Chatsworth improved dramatically," said Brad Bourne, president and chief executive.

The company's PCB unit's sales fell $100,000 or 1% from a year ago and rose 17% sequentially. Year-to-date, PCB sales were down 18% due to lower demand earlier in the year and a significantly weaker US dollar. Circuits showed income before corporate and interest costs of $700,000, up from $300,000 in 2009. For the year, the printed circuit board company's Chatsworth facility reported a loss while its Toronto facility was profitable. Operational and yield issues have hurt the Chatsworth results.

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