FTG ANNOUNCES FULL YEAR AND FOURTH QUARTER 2018 FINANCIAL RESULTS
For Immediate Release: February 6, 2019
FIRAN TECHNOLOGY GROUP CORPORATION (“FTG” OR ‘THE CORPORATION”) ANNOUNCES FULL YEAR AND FOURTH QUARTER 2018 FINANCIAL RESULTS
TORONTO, ONTARIO – (February 6, 2019) – Firan Technology Group Corporation (TSX: FTG) today announced financial results for the full year and fourth quarter 2018.
• Achieved record full year sales in 2018 of $109.4M compared to $94.7M in 2017
• Grew Aerospace segment by 27% over last year and grew Circuits segment by 8% over last year
• Achieved record EBITDA of $10.5M, an increase of $2.9M or 38% over last year
• Achieved net income of $2.9M and diluted earnings per share of $0.12, a 127% increase over 2017
• Generated $8.9M in cash flow from operations, after investments in capital equipment and all development programs, compared to cash usage of $0.9M in 2017
“FTG made great progress in 2018 in demonstrating the strength of the company and our earning potential”, stated Brad Bourne, President and Chief Executive Officer. He added, “Our sales growth was exceptional and as each quarter passed the operating results improved.”
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