RE:So far Yes, it is disappointing that sales still remain down and margins depressed but the company remains an exceptional value IMHO and WILL RECOVER.
This is a question of WHEN , not if .
- FTG achieved a fourth sequential quarter of increased bookings as the aerospace industry recovers from the COVID-19 pandemic.
- Fourth quarter bookings of $23.6M are up 13% over Q3 2021 and up 42% over Q4 2020.
- Increased net cash on the balance sheet to $17.9M, an increase of $5.3M in 2021 again showing the cash generating nature of the business.
- Over the past 2 years, during the pandemic, FTG has added $15.7M in net cash on the balance sheet, after $16.8M investments in R&D and capital equipment.
- Achieved EBITDA of $9.6M in 2021.
- FTG remained profitable in fiscal 2021, despite challenging conditions in the Commercial Aerospace market, currency headwinds and COVID-19 operational impacts.
- FTG maintained its skilled workforce with the benefit of government support and as a result is well positioned for a strong recovery as the commercial aerospace industry recovers, even in the face of tight labour markets.
As at November 30, 2021, the Corporation’s net working capital was $39.7M, compared to $39.4M at year-end in 2020. The increase is due to a higher net cash position partially offset by reduced inventory levels.
Compare that to a market capitalization of $62.21m with the shares worth $2.54