FTG ANNOUNCES THIRD QUARTER 2018 FINANCIAL RESULTS
FIRAN TECHNOLOGY GROUP CORPORATION (“FTG” OR ‘THE CORPORATION”) ANNOUNCES THIRD QUARTER 2018 FINANCIAL RESULTS
TORONTO, ONTARIO – (October 10, 2018) – Firan Technology Group Corporation (TSX:FTG) today announced financial results for the third quarter 2018.
• Achieved record third quarter sales of $25.0M, an increase of 31% over Q3 2017
• Grew Circuits segment by 22% over Q3 last year
• Grew Aerospace segment by 50% over Q3 last year
• Achieved $2.7M EBITDA, an increase of $0.9M over Q3 last year
• Grew Q3 2018 net income by 320% over same period last year
“The third quarter of 2018 came in as expected for the summer months, which typically experience a drop in sales from Q2 due to higher vacations and fewer production days”, stated Brad Bourne, President and Chief Executive Officer. He added, “Sales and profitability were up dramatically from Q3 last year again demonstrating the transition activities are mostly behind us. We will continue to work on managing transition and one-time costs in our Chatsworth operations.”
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