TORONTO,-- Firan Technology Group reported third-quarter sales at its printed circuit board operations rose 21% from a year ago on strong demand from existing customers, particularly in commercial aircraft programs.

Net earnings at the PCB business were $900,000 in the period, up from breakeven in 2013. The company's joint venture in China did not have a material impact on profitability. 

Overall sales for the period ended Aug. 29 rose 11% from a year ago to $14.8 million. Gross margin was up 650 basis points to 22.9%. The company swung to a net profit of $219,000, up from a loss of $551,000 last year.

The PCB fabricator booked $15 million in new orders during the period.

"FTG's momentum has continued with strong results across the corporation, particularly at our Circuits business and the two new Aerospace facilities in Tianjin and Chatsworth, where we continued to see progress on qualification activities, strong orders and increased shipments," said Brad Bourne, president and chief executive. "We achieved a breakthrough in getting our Circuits Joint Venture through its start-up and customer qualification phase with our first major aerospace customer qualification so it too can contribute to our success in the future."

• Prev
• Next