TORONTO – Firan Technology Group Corp. (FTG) reported second-quarter sales dropped 11% from last year to $14.6 million on decreased customer demand and the shifting US exchange rate. 
 
Sales for the circuits segment fell 8% year-over-year to $11.7 million. The aerospace segment took a harder hit, with sales down 21% to $3.7 million.
 
For the quarter ended May 29, FTG reported a net loss of $540,000, compared to a net income of $206,000 last year. The loss included $38,000 incurred from establishing FTG Aerospace-Tianjin.
 
Second-quarter bookings were $12.7 million, with a book-to-bill of 0.87 for the corporation and 0.92 for the circuits business.
 
Year to date, sales fell nearly 3% to $29.3 million; net loss was $607,000, compared to a net loss of $841,000 last year. 
 
The company has taken cost-saving measures including wage and workforce reductions, as well as implementing a new inventory management process.

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