TORONTO – Firan Technology Group Corp. (FTG) reported a 38% increase in fourth-quarter sales to $17.4 million. Sales grew 14% for the year ended November 30, to $63.2 million, compared to $55.6 million in 2007. 
 
Sales for the aerospace segment shot up 23% to $3.5 million for the quarter, on higher end assemblies including hardware and software development.
 
The circuits segment reported sales up $4.2 million, a 43% increase over 2007 figures. Corporation sales grew $63.2 million year-over-year, marking the sixth consecutive year of growth.
 
FTG reported a 29% climb in fourth-quarter gross margin to $5 million. Gross margin year-over-year was $15.9 million. The company saw a $5.6 million jump in earnings over 2007 figures. 
 
In a press release, president and CEO, Brad Bourne, said, “In addition to the numerous successes this year, we made great progress on our cost reduction initiatives, and we moved forward with our FTG Aerospace facility in China. Combined with this, our past investments and market focus put FTG in a strong position to weather the anticipated tough global economic conditions in 2009.”

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