TORONTO – Firan Technology Group Corp. (FTG)
reported first-quarter sales climbed 8% year-over-year to $14.7 million, on the strength of the US dollar. The gross margin, as a percentage of sales, rose 31%.
The circuit segment saw sales increase 9% to $11.5 million, while sales for the aerospace segment grew 6% to $3.2 million.
For the quarter, ended February 27, net loss was $67,000, compared to $1.04 million last year. Total bookings were $13.3 million, and the book-to-bill was 0.91:1 for the corporation and 0.97:1 for the circuits segment.
During the quarter, FTG renewed multiyear contracts with Honeywell and Rockwell, renewed and expanded its credit facilities with Comerica bank and acquired Laser Direct Imaging Technology in Circuits-Toronto.