TORONTO – Firan Technology Group reported first-quarter sales were up 18% to $12.2 million year-over-year, boosted by an 87% jump in Canada.

The printed circuit board fabricator posted operating earnings of $476,000 for the quarter, compared to a loss of $124,000 in the same period last year. Firan reported a net loss of $193,000 in the first quarter, compared to a net loss of $596,000 in the 2010 period.

PCB segment sales were up $800,000 or 10% compared to the same quarter last year. Net income for the segment was $100,000, compared to a net loss of $100,000 last year.

Overall sales grew in all regions, with Europe up 72%, Asia up 56%, and the US up 4%.

FTG’s aerospace group experienced a 51% sales growth year-over-year.

The firm recently reported a creditor of its largest shareholder will acquire about 48% of the company through a bankruptcy deal: http://pcdandf.com/cms/fabnews/7901-private-investment-group-gains-control-of-ftg.