TORONTO – Firan Technology Group reported overall sales decreased 3.4% year-over-year to $13 million during the first quarter of 2013.

The company recorded a net loss in the first quarter of $691,000, compared to net income of $38,000 in the same period last year.

Weak sales at FTG Circuits - Chatsworth negatively impacted profitability, as did startup losses at FTG Aerospace - Tianjin and FTG Aerospace - Chatsworth.

First-quarter orders grew 30% sequentially to more than $15 million.

"FTG experienced volatility in demand across its businesses in the first quarter, and this combined with the startup expenses for our two new aerospace facilities, resulted in lower than anticipated financial performance," said Brad Bourne, president and CEO. "We are still comfortable with the direction of the corporation and with the strong bookings in the first quarter. We expect to see improved performance going forward."

Circuits Segment sales were down 9% compared to the first quarter of 2012. Circuits segment net earnings were $100,000, compared to $500,000 in the same quarter last year.

For the Aerospace segment, sales in the first quarter were up 11% to $3.7 million year-over-year. The segment experienced a net loss of $40,000, versus net income of $200,000 in the first quarter of 2012.

FTG Circuits - Chatsworth sales were down 25% as a result of reduced demand from some key military customers.

FTG Circuits - Toronto sales were up 7% because of increased demand on some programs, including the Boeing 787.

During the quarter, the firm signed a more than $30 million contract with Rockwell Collins for cockpit products. 

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