TORONTO – Firan Technology Group reported third-quarter sales of $13.3 million, down 5.3% year-over-year. The printed circuit board manufacturer posted a net loss of $551,000 for the period, compared to net income of $155,000 in the same quarter last year.
PCB sales were down $1.3 million, or 13%, in the third quarter versus the year-ago period. Year-to-date, the segment’s sales were down $3.8 million, or 12%.
During the quarter, FTG created a joint venture with TPC in China for its circuits business, and experienced a ramp in revenue from its two new aerospace facilities. However, the firm had lower than expected sales at its Circuits Toronto facility, said Brad Bourne, president and CEO.
Year-to-date, sales were $40.6 million, down 3.2% year-over-year. For the first three quarters of 2013, the company’s net loss was nearly $1.2 million, compared to net income of $824,000 for the same period in 2012.