American Made Advocacy: Reshoring—About Trust, Not Just Geography
Defense Speak Interpreted: It’s Time for a ‘Defense-Speak’ Update
Beyond the Board: The Future of Innovation—Why the Electronics Industry Needs You
FTG Announces Q1 2025 Financial Results
April 10, 2025 | Firan Technology Group CorporationEstimated reading time: 2 minutes
Firan Technology Group Corporation announced financial results for first quarter of 2025.
First Quarter Financial Highlights:
- Bookings: Total bookings reached $51.5 million, marking a 37% increase over Q1 2024.
- Backlog: The quarter-end backlog stood at $142.5 million, a 43% rise from the previous year.
- Revenue: Reached $42.9 million, a 22.6% increase over Q1 2024.
- Adjusted EBITDA: Recorded at $8.4 million, up from $4.6 million in Q1 2024.
- Adjusted Net Earnings: Rose by 214% to $3.3 million.
- Net Debt: Maintained a strong balance sheet with net debt of $8.3 million, including $13.6 million of government loans, after $6.6 million in investments in Q1 2025.
- Operating Cash Flow Less Lease Payments: Generated operating cash flow less lease payments of $9.3M in Q1 2025.
Business Highlights:
In Q1 2025, the Corporation grew through acquisition and organically. FTG is strategically investing its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. The company's achievements in Q1 2025 demonstrate this commitment, laying a strong foundation for future growth.
FLYHT Acquisition: In Q1 2025, FTG acquired FLYHT Aerospace Solutions Ltd., enhancing FTG’s presence in the commercial aerospace aftermarket and expanding its product offerings on Airbus aircraft. This acquisition aligns with FTG's strategic priorities, and plans include ramping up sales of FLYHT’s product lines and insourcing manufacturing to other FTG sites.
De Havilland Contract: Also during Q1 2025, FTG announced that De Havilland Aircraft of Canada Ltd. has selected FTG to provide updated cockpit control assemblies for the new De Havilland Canadair 515 (DHC-515) aerial firefighting aircraft.
New Facility: FTG announced plans to open an Aerospace facility in Hyderabad, India, to support strategic growth and expand market presence.
Banking Agreement: Completed a new three-year banking agreement with BMO Corporate Finance, providing improved flexibility and reduced costs to support growth and corporate development objectives.
Leadership Announcements: Bill Sezate has joined the Corporation as Executive Vice President, FTG Circuits reporting to Brad Bourne. Bill comes to FTG with extensive experience in all aspects in the circuit board industry. In addition, Marko Viinikka is joining the Corporation in a newly created role as Executive Vice President, FTG Aerospace reporting to Brad Bourne. Marko comes to FTG with extensive experience in all aspects of the Aerospace industry.
CEO Commentary:
“Our first quarter was a great start to 2025,” stated Brad Bourne, President and CEO of FTG. “All metrics in the quarter were positive from bookings, to sales, to margins, to net income and cash flow, showing that our investments in technology, operational performance and our acquisitions are all helping to position us for success. We are seeing strong end market demand and the current situation from tariffs levied by the US does not appear to have any direct impact on us.”
Share on:
Suggested Items
Northrop Grumman Achieves First-Ever Undocking Between Two Commercial Spacecraft in Geosynchronous Orbit
04/14/2025 | Northrop GrummanA Mission Extension Vehicle (MEV) developed by Northrop Grumman Corporation’s Space Logistics LLC has successfully undocked with Intelsat’s IS-901 satellite, completing its life extension service.
STMicroelectronics Details Company-Wide Program to Reshape Manufacturing Footprint and Resize Global Cost Base
04/14/2025 | STMicroelectronicsSTMicroelectronics N.V., a global semiconductor leader serving customers across the spectrum of electronics applications, disclosed further elements of its program to reshape its global manufacturing footprint.
Cogiscan: A New Era of Leadership, Collaboration, and Innovation
04/14/2025 | Marcy LaRont, PCB007 MagazineCogiscan, the leading platform provider for factory data focused on the unique needs of PCBA and complex manufacturing ecosystems, has had a lot of news recently. New CEO Martin Drolet, and Benoît Ouellet, VP of technology and operations, discuss their vision for the company’s future through the transition following the retirement of the company’s founders—André Corriveau, Francois Monette, and Vincent Dubois. Martin and Benoît emphasize a commitment to customer-centricity, collaboration, and the integration of cutting-edge technology like AI, with an eye toward the unique demands of high reliability manufacturing ecosystems. These new leaders are poised to continue addressing unique challenges and bright future of the PCBA industry.
Gartner: Worldwide PC Shipments Increased 4.8% in Q1 of 2025
04/14/2025 | Gartner, Inc.Worldwide PC shipments totaled 59 million units in the first quarter of 2025, a 4.8% increase from the first quarter of 2024, according to preliminary results by Gartner, Inc. U.S. PC shipments grew 12.6%, reaching 16 million units in the first quarter of 2025.
Murata Selected as Clarivate Top 100 Global Innovator for 4th Year in a Row
04/11/2025 | MurataMurata Manufacturing Co., Ltd. was selected as one of the Clarivate Top 100 Global Innovators 2025 by Clarivate Plc in March 2025. This is the fourth consecutive year that Murata has received this recognition.