FIRAN TECHNOLOGY GROUP CORPORATION
FIRAN TECHNOLOGY GROUP CORPORATION ('FTG') ANNOUNCES THIRD QUARTER 2020
FINANCIAL RESULTS
TORONTO, ONTARIO - (October 7, 2020) - Firan Technology Group Corporation (TSX: FTG) today announced financial results for the third quarter 2020.
• Ended Q3 2020 with over $47M in total backlog, of which $26M is due in Q4 2020
• Generated $3.2M in cash in Q3 and ended the quarter with $8.8M in net cash on the balance sheet
• Achieved a gross margin percentage of 27.6%
• Received $0.8M in Canadian Emergency Wage Subsidy in the quarter
• Entered into a new 2 year, $20M USD committed credit facility on terms similar to the previous agreement with our current lender
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Firan Technology Group Corporation published this content on 07 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 October 2020 13:54:01 UTC
