The Right Approach: Get Ready for ISO 9001 Version 6
Dan’s Biz Bookshelf: ‘Still Broke: Walmart’s Remarkable Transformation'
Driving Innovation: Depth Routing Processes—Achieving Unparalleled Precision in Complex PCBs
FTG's Circuits Segment Sales Up 19% in 2Q19
July 11, 2019 | Globe NewswireEstimated reading time: 5 minutes
Net profit after tax at FTG in Q2 2019 was $2.5M compared to a net profit of $1.3M in Q2 2018. Higher margins, were partially offset by higher SG&A costs and higher foreign exchange losses. For the year-to-date, net profit was $3.7M compared to $1.0M last year.
The circuits segment net earnings before corporate and interest and other costs was $3.9M in Q2 2019 compared to $2.8M in Q2 2018.
The aerospace net earnings before corporate and interest and other costs in Q2 2019 was $0.7M versus $0.1M in Q2 2018.
As at May 31, 2019, the Corporation’s net working capital was $32.5M, an increase of $3.8M over year-end 2018. Higher accounts receivable was offset by lower accounts payable/accrued liabilities and cash.
Cash flow in Q2 2019 was $2.3M compared to $3.6M in Q2 last year, after investments in capital equipment and deferred development. In Q2 2019, cash taxes paid were $0.4M. For the year-to-date period cash flow was $0.4M compared to $3.2M last year.
Net debt to EBITDA was 0.16:1 for the trailing 12 month period.
The Corporation will host a live conference call on Thursday, July 11, 2019 at 8:30 am (EDT) to discuss the results of Q2 2019.
About Firan Technology Group Corporation
FTG is an aerospace and defense electronics product and subsystem supplier to customers around the globe. FTG has two operating units:
FTG Circuits is a manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation, defense, and high technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California and a joint venture in Tianjin, China.
FTG Aerospace manufactures illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California, Fort Worth, Texas and Tianjin, China.
Page 2 of 2Share on:
Testimonial
"Advertising in PCB007 Magazine has been a great way to showcase our bare board testers to the right audience. The I-Connect007 team makes the process smooth and professional. We’re proud to be featured in such a trusted publication."
Klaus Koziol - atgSuggested Items
Honeywell-Led Consortium Receives UK Government Funding to Revolutionize Aerospace Manufacturing
09/02/2025 | HoneywellA consortium led by Honeywell has received UK Government funding for a project that aims to revolutionize how critical aerospace technologies are manufactured in the UK through the use of AI and additive manufacturing.
Coherent Announces Agreement to Sell Aerospace and Defense Business to Advent for $400 Million
08/15/2025 | AdventCoherent Corp., a global leader in photonics, today announced that it has entered into a definitive agreement to sell its Aerospace and Defense business to Advent, a leading global private equity investor, for $400 million. Proceeds will be used to reduce debt, which will be immediately accretive to Coherent’s EPS.
KYZEN Partners with LPW to Elevate High Purity Cleaning with Cutting-Edge Cyclic Nucleation Technology in North America
08/13/2025 | KYZEN'KYZEN, a global leader in advanced cleaning solutions, has reached a major milestone in high-purity cleaning with the addition of a state-of-the-art Vacuum Cyclic Nucleation System at its North American Application Lab.
Jeh Aerospace Raises $11M to Boost Aircraft Supply Chain
08/12/2025 | I-Connect007 Editorial TeamJeh Aerospace, the high-precision aerospace and defense manufacturing startup founded by Vishal Sanghavi and Venkatesh Mudragalla, has raised $11 million in a Series A round led by Elevation Capital, with support from General Catalyst, to scale its commercial aircraft supply chain manufacturing in India, according to OEM.
New Frontier Aerospace and Air Force Institute of Technology Sign CRADA to Advance Hypersonic VTOL Aircraft
08/05/2025 | PR NewswireNew Frontier Aerospace (NFA) is excited to announce a Collaborative Research and Development Agreement (CRADA) with the Air Force Institute of Technology (AFIT) aimed at advancing an innovative rocket-powered hypersonic Vertical Takeoff and Landing (VTOL) aircraft.