Latest news with #FTG
Yahoo
21-07-2025
- Business
- Yahoo
Firan Technology Group Achieves Another Major Milestone with EASA Certification for Edge+ on Airbus A319/320/321 Family of Aircraft
TORONTO, July 21, 2025 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) ('FTG' or 'the Corporation') today announced that a Supplemental Type Certificate (STC) has been awarded by the European Aviation Safety Agency (EASA) for the AFIRS Edge+™ product on the Airbus A319/320/321 family of aircraft. This milestone certification clears the path for global deployment of FLYHT's 5G Wireless Quick Access Recorder (WQAR) on one of the world's most widely used commercial airframes. 'The Edge+ approval for the Airbus family of aircraft, in addition to the previously announced approval for Boeing 737 NG aircraft paves way for global installations of the industry's first 5G Wireless QAR plug-and-play solution and a key part of our plan to create value from the FLYHT acquisition,' said Brad Bourne, President & CEO of FTG. 'Edge+ replaces aging 2G and 3G recorders with a true 5G platform, ensuring airlines can continue to leverage real-time aircraft data for safety, operational efficiency, and innovation. We look forward to working closely with our airline partners to integrate Edge+ seamlessly into their fleets.' The AFIRS Edge+ is a direct, plug-and-play replacement for legacy WQAR systems that are reaching end-of-life as older cellular networks sunset. As the industry's first 5G-enabled WQAR, the AFIRS Edge+ delivers the bandwidth and reliability required to meet next-generation data demands—from advanced predictive analytics to reducing ACARS costs. With this EASA approval in hand, FTG will expand regulatory compliance to additional jurisdictions in the coming months, enabling broader market access for Edge+ across Airbus A319/320/321 operators worldwide. 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, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill, Massachusetts and a joint venture in Tianjin, China. FTG Aerospace designs, certifies, manufactures and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California and Tianjin, China. The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF. For more information on FTG and its products, visit FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as 'anticipate', 'believe', 'expect', 'plan' or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation's industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. For further information please contact: Bradley C. BournePresident and CEOFiran Technology Group CorporationTel: (416) 299-4000 x314bradbourne@ Jamie CrichtonVice President and CFOFiran Technology Group CorporationTel: (416) 299-4000 x264jamiecrichton@ Additional information can be found at
Yahoo
08-07-2025
- Business
- Yahoo
Firan Technology Group Corporation ('FTG') Announces Second Quarter 2025 Financial Results
TORONTO, July 08, 2025 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) today announced financial results for the second quarter 2025. Second Quarter Financial Highlights: Bookings: Total bookings reached $45.8 million for Q2 Backlog: The quarter-end backlog stood at $133.5 million, a 9% rise from the previous year end. Revenue: Recorded at $48.7 million, a 25.6% increase over Q2 2024. Adjusted EBITDA: Achieved $8.7 million in the quarter, up from $6.5 million in Q2 2024. Net Earnings: Rose by 36.3% to $3.5 million. Net Debt: Maintained a strong balance sheet with net debt of $13.5 million, including $12.8 million of government loans, or 0.4X trailing 12 months EBITDA Operating Cash Flow Less Lease Payments: Generated operating cash flow less lease payments of $5.8 million for the 1st half of 2025 Business Highlights: In Q2 2025, the Corporation continued to grow organically while integrating the FLYHT acquisition from earlier in the year. 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 Q2 2025 demonstrate this commitment, laying a strong foundation for continued growth. FLYHT Profitability: FLYHT achieved profitability in Q2 2025. AFIRS Edge+™ Boeing 737NG Certification: FTG, through its subsidiary FLYHT, has received a Supplemental Type Certificate (STC) from Transport Canada Civil Aviation (TCCA) for its AFIRS Edge+™ product on the Boeing 737NG family of aircraft, one of the world's most widely used commercial airframes. More STCs for this product are underway for additional aircraft types and geographic regions. New Facility - FTG finalized the facility design and signed a lease for its planned Aerospace facility in Hyderabad India with target completion date of late 2025. Initial start up capital has also been invested in the new operation – FTG Aerospace Hyderabad. Qualification Orders – FTG completed qualification orders for some high-volume US defence programs and received new qualification orders on further US defence programs. New Board Member – Effective today, Russell David has been appointed to the FTG Board of Directors. Russell has had unique experience as a board member of privately-held companies including Davie Shipbuilding Canada Inc., as a senior executive in public and private corporations and as a senior partner in financial services firm Deloitte in corporate finance and M&A advisory. Table 1: Key Financial Metrics (Quarterly) Metric Q2 2025 Q2 2024 % Change Sales $48,729,000 $38,789,000 25.6% Gross Margin $15,867,000 $10,808,000 46.8% Gross Margin (%) 32.56% 27.86% 470bps Net Earnings to FTG Equity Holders $3,480,000 $2,553,000 36.3% Adjusted Net Earnings (1) $3,526,500 $2,553,000 38.1% Earnings Per Share (Basic) $0.14 $0.11 27.3% Earnings Per Share (Diluted) $0.13 $0.11 18.2% Adjusted Earnings Per Share (Basic) (1) $0.14 $0.11 31.0% Adjusted Earnings Per Share (Diluted) (1) $0.14 $0.11 30.9% (1) Adjusted Net Earnings is not a measure recognized under International Financial Reporting Standards ('IFRS'). Management believes that this measure is important to many of the Corporation's shareholders, creditors and other stakeholders. The Corporation's method of calculating Adjusted Net Earnings may differ from other corporations and accordingly may not be comparable to measures used by other corporations. Table 2: Key Financial Metrics (Year-to-Date) Metric YTD Q2 2025 YTDQ2 2024 % Change Sales $91,603,000 $73,764,000 24.2% Gross Margin $29,193,000 $19,737,000 47.9% Gross Margin (%) 31.87% 26.76% 511bps Net Earnings to FTG Equity Holders $6,647,000 $3,603,000 84.5% Adjusted Net Earnings (1) $6,821,000 $3,603,000 89.3% Earnings Per Share (Basic) $0.27 $0.15 80.0% Earnings Per Share (Diluted) $0.26 $0.15 73.3% Adjusted Earnings Per Share (Basic) (1) $0.27 $0.15 80.2% Adjusted Earnings Per Share (Diluted) (1) $0.27 $0.15 80.0% (1) Adjusted Net Earnings is not a measure recognized under International Financial Reporting Standards ('IFRS'). Management believes that this measure is important to many of the Corporation's shareholders, creditors and other stakeholders. The Corporation's method of calculating Adjusted Net Earnings may differ from other corporations and accordingly may not be comparable to measures used by other corporations. Table 3: EBITDA Metric Q2 2025 Q2 2024 YTDQ2 2025 YTDQ2 2024 Trailing 12 Months Ended Q2 2025 Net Earnings to Equity Holders $3,480,000 $2,553,000 $6,647,000 $3,603,000 $13,859,000 Add: Interest, Accretion $737,000 $585,000 $1,355,000 $1,112,000 $2,453,000 Add: Income Taxes $1,593,000 $1,122,000 $3,184,000 $1,811,000 $5,466,000 Add: Depreciation and Amortization $2,688,000 $2,085,000 $5,263,000 $4,125,000 $9,483,000 EBITDA (2) $8,498,000 $6,345,000 $16,449,000 $10,651,000 $31,261,000 Adjustments Stock Based Compensation $143,000 $138,000 $397,000 $386,000 $750,000 Acquisition and Divestiture Expenses - - $107,000 - $511,000 India Startup Costs $62,000 - $125,000 - $235,000 Change in Fair Value of Contingent Consideration - - - - ($829,000) Adjusted EBITDA (2) $8,703,000 $6,483,000 $17,078,000 $11,037,000 $31,928,000 Adjusted EBITDA Margin (2) 17.9% 16.7% 18.6% 15.0% 17.7% (2) EBITDA and Adjusted EBITDA are not measures recognized under International Financial Reporting Standards ('IFRS'). Management believes that these measures are important to many of the Corporation's shareholders, creditors and other stakeholders. The Corporation's method of calculating EBITDA and Adjusted EBITDA may differ from other corporations and accordingly may not be comparable to measures used by other corporations CEO Commentary: 'Our second quarter set another sales record for FTG,' stated Brad Bourne, President and CEO of FTG. 'We continued to see strong end market demand from all market segments and we continue to ramp our throughput in support of this demand. Our FLYHT acquisition was profitable in the quarter which was sooner than anticipated and shows the potential for our new business in the commercial aerospace aftermarket segment. The uncertainty around US tariffs remains but we have not seen any material impact so far. During 2025, we have seen significant movements in the value of the Canadian dollar versus the US dollar which benefited our Q1 results and negatively impacted Q2. The current exchange rate is in line with where it was in 2024 so going forward it should not have a material impact on FTG's results.' About Firan Technology Group Corporation: FTG is an aerospace and defence electronics product and subsystem supplier to customers around the globe. FTG has two operating units: FTG Circuits: A manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation, defence, and high technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill, Massachusetts, and a joint venture in Tianjin, China. FTG Aerospace: Designs, certifies, manufactures, and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defence equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California, and Tianjin, China. The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF. Conference Call Details: FTG will host a live conference call on Wednesday, July 9, 2025, at 8:30 a.m. (Eastern) to discuss the financial results. The call will be chaired by Mr. Brad Bourne, President and CEO of FTG. Participants can join the call by dialing 1-289-514-5100 or 1-800-717-1738 and using Conference ID 20585. A replay of the call will be available until August 9, 2025, and can be accessed by dialing 1-289-819-1325 or 1-888-660-6264, Playback Passcode# 20585. The replay will also be available on the FTG website at Forward-Looking Statements: This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as 'anticipate', 'believe', 'expect', 'plan' or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation's industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. For further information please contact: Bradley C. Bourne, President and CEOFiran Technology Group CorporationTel: (416) 299-4000 x314bradbourne@ Jamie Crichton, Vice President and CFOFiran Technology Group CorporationTel: (416) 299-4000 x264jamiecrichton@ Additional information can be found at the Corporation's website in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-07-2025
- Business
- Yahoo
Firan Technology Group Corporation ('FTG') Announces Second Quarter 2025 Earnings Release and Conference Call Dates
TORONTO, July 02, 2025 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) ('FTG') will release the second quarter 2025 financial results after the market closes on Tuesday, July 8, 2025. The Corporation will host a live conference call on Wednesday, July 9, 2025, at 8:30am (Eastern) to discuss the second quarter 2025 financial results. Anyone wishing to participate in the call should dial 289-514-5100 or 1-800-717-1738, Conference ID 20585, and identify that you are calling to participate in the FTG conference call. The Chairperson is Mr. Brad Bourne. A replay of the call will be available until August 9, 2025, and will be available on the FTG website at The number to call for a rebroadcast is 289-819-1325 or 1-888-660-6264, Playback Passcode 20585. 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, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill, Massachusetts and a joint venture in Tianjin, China. FTG Aerospace designs, certifies, manufactures and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California and Tianjin, China. The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF. FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as 'anticipate', 'believe', 'expect', 'plan' or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation's industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. For further information please contact: Bradley C. Bourne, President and CEOTel: (416) 299-4000 x 314Firan Technology Group Corporationbradbourne@ Jamie Crichton, Vice President, and CFOTel: (416) 299-4000 x 264Firan Technology Group Corporationjamiecrichton@ Additional information can be found at the Corporation's website while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Globe and Mail
02-07-2025
- Business
- Globe and Mail
Firan Technology Group Corporation ('FTG') Announces Second Quarter 2025 Earnings Release and Conference Call Dates
TORONTO, July 02, 2025 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) ('FTG') will release the second quarter 2025 financial results after the market closes on Tuesday, July 8, 2025. The Corporation will host a live conference call on Wednesday, July 9, 2025, at 8:30am (Eastern) to discuss the second quarter 2025 financial results. Anyone wishing to participate in the call should dial 289-514-5100 or 1-800-717-1738, Conference ID 20585, and identify that you are calling to participate in the FTG conference call. The Chairperson is Mr. Brad Bourne. A replay of the call will be available until August 9, 2025, and will be available on the FTG website at The number to call for a rebroadcast is 289-819-1325 or 1-888-660-6264, Playback Passcode 20585. 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, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill, Massachusetts and a joint venture in Tianjin, China. FTG Aerospace designs, certifies, manufactures and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California and Tianjin, China. The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF. FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as 'anticipate', 'believe', 'expect', 'plan' or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation's industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. F or f u r t her i n f o r m a t i on p l ea s e co n t a c t: Bradley C. Bourne, President and CEO Tel: (416) 299-4000 x 314 Fi r an T echn o l o g y Group C orpo r a t i on bradbourne@ Jamie Crichton, Vice President, and CFO Tel: (416) 299-4000 x 264 Fi r an T echn o l o g y Group C orpo r a t i on jamiecrichton@
Business Wire
20-06-2025
- Business
- Business Wire
CUT by Wolfgang Puck at Four Seasons Hotel New York Downtown Named to 2025 Star Bars List by Forbes Travel Guide
NEW YORK--(BUSINESS WIRE)--CUT by Wolfgang Puck at Four Seasons Hotel New York Downtown was named one of the world's 58 Hotel Star Bars verified by Forbes Travel Guide ('FTG'), the world's leading authority on luxury hospitality. The full list is featured on 'At CUT, the experience goes far beyond the plate. It's about creating an atmosphere where every detail, every pour, and every interaction is intentional,' said Byron Lazaroff-Puck. This year's honorees, spanning 19 countries, were identified through data gathered as part of FTG's 2024 and 2025 Star Ratings, based on exacting incognito inspections globally. The bars named to the list excelled in scores related to their beverage program and presentation, as well as providing seamless, luxurious service and an exceptional guest experience. The selection of 58 honorees is a tribute to Forbes Travel Guide's founding as Mobil Travel Guide in 1958. Located in the heart of Tribeca, Four Seasons Hotel New York Downtown is a 2025 Forbes Five-Star recipient, recognized for its outstanding hospitality, contemporary design, and refined sense of place. Adjacent to the hotel's lobby, the bar at CUT by Wolfgang Puck has emerged as a destination of its own, offering guests a vibrant yet intimate setting that seamlessly blends culinary innovation with elevated mixology. With its rich textures, warm lighting, and curated cocktail experience, the bar reflects the hotel's broader commitment to excellence, welcoming locals, travelers, and tastemakers to gather, unwind, and enjoy standout service in one of the city's most iconic luxury addresses. 'At Four Seasons Hotel New York Downtown, we are proud to deliver an experience that is both intimate and iconic,' said Igor Morosowski, General Manager at Four Seasons Hotel New York Downtown. 'Being named to Forbes Travel Guide's Star Bars list affirms our commitment to excellence and recognizes the bar at CUT by Wolfgang Puck as a place where sophistication, creativity, and community intersect in the most memorable way.' 'At CUT, the experience goes far beyond the plate. It's about creating an atmosphere where every detail, every pour, and every interaction is intentional,' said Byron Lazaroff-Puck. 'This recognition celebrates our commitment to hospitality that feels both personal and elevated. Being part of Four Seasons Hotel New York Downtown allows us to bring that vision to life in a setting defined by timeless luxury and world-class service. Guests come not just to unwind, but to connect, indulge, and be inspired. We're honored by this distinction and excited to continue raising the bar for what an unforgettable experience can be.' 'The 2025 Star Bars represent the pinnacle of hotel bar experiences,' said Hermann Elger, CEO of FTG. 'FTG's in-person inspections in more than 90 countries provide unmatched insight into hotel bars, with our research delving into two years of exacting data to surface the best of the best.' 'These awards highlight sophisticated ambiance, elevated service, artfully curated wine lists, and cocktails that are skillfully crafted and creatively presented," said Bastien Gardrat, Forbes Travel Guide's Global Spirits Ambassador. 'These are elements that come together to create an unforgettable hotel bar experience. Congratulations to the remarkable bars on this year's inaugural list.' To view the full list of 2025 Hotel Star Bars award winners, visit Connect with Forbes Travel Guide: Forbes Travel Guide is the only global rating system for luxury hotels, restaurants, spas and ocean cruises and their restaurants. Our anonymous inspectors evaluate hundreds of exacting standards, with an emphasis on exceptional service, to help discerning travelers select the world's best experiences. The only way to get a Five-Star, Four-Star or Recommended rating is by earning it through our exacting inspection process. For more information about Forbes Travel Guide, please visit About CUT by Wolfgang Puck at The Four Seasons Hotel New York Downtown The bar is an extension of CUT by Wolfgang Puck, the renowned chef's first Manhattan restaurant, located just next door off the lobby of The Four Seasons Hotel New York Downtown. More than just a place to grab a drink, it stands as a destination in its own right. Designed with rich textures, warm lighting, and striking architectural details, the bar offers an intimate yet energetic atmosphere that echoes the restaurant's refined ambiance. Guests can enjoy innovative cocktails and a thoughtfully curated wine list, whether as a pre-dinner indulgence or a standalone experience. On select evenings, curated DJ sets elevate the vibe, infusing the space with a dynamic rhythm. Whether reconnecting with friends or unwinding after work, the bar has become a favorite among locals, business professionals, travelers, celebrities, and tastemakers alike - a true hidden gem nestled within one of New York's most iconic addresses.
