Firan Technology Group Corporation (“FTG”) Announces First Quarter 2026 Financial Results

Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.TORONTO, April 08, 2026 (GLOBE NEWSWIRE) — Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) today announced financial results for first quarter of 2026.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.First Quarter Financial Highlights:Business Highlights:Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.In Q1 2026, the Corporation grew 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 2026 demonstrate this commitment, laying a strong foundation for future growth.First Quarter Financial Summary:Operational Analysis:FTG CircuitsRevenue for Q1 2026 was $31.1 million, an increase of $2.4 million or 8.3% due to operational improvements at several U.S. sites. This revenue growth occurred despite a decrease of $1.3M caused by less favourable foreign exchange rates. Adjusted net earnings for Q1 2026 was $1.2 million, a decrease of $1.0 million year-over-year mainly due to a $0.7 million increase in foreign exchange loss. In addition, Q1 2025 included a large, realized gain on the Corporation’s existing gold forward contracts, which was not repeated in 2026 and contributed a $0.4 million unfavourable variance.FTG AerospaceFor Q1 2026, Aerospace revenue was $17.1 million, an increase of $1.9 million or 12%. As the acquisition of FLYHT Aerospace Solutions Ltd. and its subsidiaries (“FLYHT”) occurred during Q1 2025, the acquisition timing difference contributed $0.7 million, offset by $0.6M of decline due to unfavourable foreign exchange rates. Organic growth added $1.8 million. Adjusted net earnings were $2.0 million, an increase of $0.6 million year-over-year despite an increase of $1.0 million in foreign exchange loss.CEO Commentary:“Our first quarter was a great start to 2026,” stated Brad Bourne, President and CEO of FTG. “We achieved many strategic and operational improvements to Aerospace Calgary and legacy sites. This allowed us to deliver robust financial results despite significant foreign exchange headwinds during the quarter. We continue to see strong end market demand and remain focused on delivering long-term value to our shareholders.”Adjusted EBITDA: 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 is a manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation and defence 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, electronic assemblies and avionics products 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 Thursday, April 9, 2026, at 8:30am (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 289-514-5100 or 1-800-717-1738, Conference ID 33073. A replay of the call will be available until May 11, 2026, and can be accessed by dialing 289-819-1325 or 1-800-660-6264, Playback Passcode 33073. The replay will also be available on the FTG website at www.ftgcorp.com.Forward-Looking Statements:Certain statements in this MD&A other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect the current expectations of FTG. These statements include without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of FTG, as well as the outlook for North American and international economies, for the current fiscal year and subsequent periods. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”, “considers”, “intends”, “targets”, “projects”, “forecasts” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. Forward-looking statements are provided for the purpose of conveying information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes.For further information please contact:drewknight@ftgcorp.comHead Office: 250 Finchdene Square, Toronto, Ontario, M1X 1A5Additional information can be found at the Corporation’s website www.ftgcorp.com.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. 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