-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueAdvancing the Advanced Materials Discussion
Moore’s Law is no more, and the advanced material solutions to grapple with this reality are surprising, stunning, and perhaps a bit daunting. Buckle up for a dive into advanced materials and a glimpse into the next chapters of electronics manufacturing.
Inventing the Future With SEL
Two years after launching its state-of-the-art PCB facility, SEL shares lessons in vision, execution, and innovation, plus insights from industry icons and technology leaders shaping the future of PCB fabrication.
Sales: From Pitch to PO
From the first cold call to finally receiving that first purchase order, the July PCB007 Magazine breaks down some critical parts of the sales stack. To up your sales game, read on!
- Articles
- Columns
- Links
- Media kit
||| MENU - pcb007 Magazine
FTG Announces Q2 2024 Financial Results; Up 46% YoY
July 11, 2024 | Globe NewswireEstimated reading time: 1 minute
Firan Technology Group Corporation (TSX: FTG) today announced financial results for the second quarter of 2024.
- Second quarter bookings of $58.7M were up 46% over Q2 2023.
- Second quarter revenues of $38.8M were up 14% over Q2 2023.
- FTG achieved Adjusted Net Earnings in Q2 2024 of $2.6M, which was up 13% over Q2 2023.
- FTG achieved second-quarter Adjusted EBITDA of $6.5M, which was up 25% over Q2 2023.
- FTG achieved Free Cash Flow of $2.0M in Q2 2024, an increase of $2.4M over Q2 2023.
Business Highlights
During Q2 2024, the Corporation has continued to invest in technology in existing sites, grow the business organically, and integrate the two acquisitions completed last year. FTG is strategically deploying its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. Specifically, FTG accomplished the following in Q2 2024, which continues to improve the Corporation and position it for the future:
Integration activities in Circuits Minnetonka progressed well in the quarter including going live with the FTG ERP system. The ERP transition resulted in a negative impact on production in March and April, but May saw a return to expected throughput levels. The site renewed a multiyear contract with one of its largest customers at improved price levels in the quarter.
Integration activities in Circuits Haverhill advanced with the receipt of new drills and electrical test equipment. The expansion of the customer base progressed in the quarter. The site installed new servers and the FTG ERP system in Q2 with full implementation targeted through the second half of 2024.
Customer orders received in Q2 2024 totaled $58.7M, resulting in a book-to-bill ratio of 1.51:1.
The Corporation was awarded a contract valued at approximately $17.0M to supply cockpit interface assemblies for the display suite on COMAC's C919 aircraft. The period of performance for this contract extends from the second half of 2024 through to the third quarter of 2026. Production will take place at FTG’s manufacturing facilities in Toronto, Canada, and Tianjin, China. Production will start in Toronto and transition to Tianjin during the contract period.
As of May 31, 2024, FTG had total backlog of $119.6 million, which is a 22% increase over the Q2 2023 backlog of $98.2 million.
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
Imec Launches 300mm GaN Program to Develop Advanced Power Devices and Reduce Manufacturing Costs
10/13/2025 | ImecImec, a world-leading research and innovation hub in nanoelectronics and digital technologies, welcomes AIXTRON, GlobalFoundries, KLA Corporation, Synopsys, and Veeco as first partners in its 300mm gallium-nitride (GaN) open innovation program track for low- and high-voltage power electronics applications.
Renesas Powers 800 Volt Direct Current AI Data Center Architecture with Next-Generation Power Semiconductors
10/13/2025 | RenesasRenesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, announced that it is supporting efficient power conversion and distribution for the 800 Volt Direct Current power architecture announced by NVIDIA, helping fuel the next wave of smarter, faster AI infrastructure.
SEMI Reports Global 300mm Fab Equipment Spending Expected to Total $374 Billion Over Next Three Years
10/09/2025 | SEMIGlobal 300mm fab equipment spending is expected to reach $374 billion from 2026 to 2028, SEMI reported today in its latest 300mm Fab Outlook.
Advanced Rework Technology Inspires Students at National Manufacturing Day 2025
10/08/2025 | A.R.T. Ltd.Advanced Rework Technology Ltd. (A.R.T.), a leading independent IPC-accredited training provider, joined forces with Jaltek, a UK-based electronics manufacturer with over 35 years’ experience in designing and producing high-quality electronic products, to deliver hands-on workshops for students during National Manufacturing Day 2025.
I-Connect007 Releases Episode 5 of Groundbreaking Ultra HDI Podcast Series
10/10/2025 | I-Connect007In Episode 5 “Via Structures,” host Nolan Johnson welcomes back John Johnson, Director of Quality and Advanced Technology at American Standard Circuits. Together, they explore the designer’s perspective on UHDI’s impact on via structures, diving into the metallurgy, chemistry, mechanical considerations, and stackup reduction that provide greater design flexibility and fewer constraints than ever before.