RE:earnings tomorrowYes , results were good. Sales up 13% for the year and 16.8% for the fourth quarter. Margins for the year were 23.8% for the year and 24.2% for the fourth quarter.
Fourth quarter bookings of $32.2M were up 15% over Q3 2022 and up 37% over Q4 2021. This was the 8
th sequential quarter of bookings growth.
Full year bookings were $113.3M, up 41% over 2021.
- Achieved a 1.26:1 book-to-bill ratio for 2022 resulting in increased backlog of $65.5M compared to $39.7M at the end of 2021.
All this without the acquisitions ; imagine the second half.
Business Highlights
In 2022, FTG went on offence after two years of playing defence. During the year the company invested in technology in our existing sites, grew the business organically, acquired our building in Chatsworth to protect our operations but then as committed completed a sales/leaseback, announced two acquisitions and bought back stock. Through all these actions, FTG is strategically deploying its strong cash balance in ways that will drive increased shareholder returns for the future in both the near-term and long-term.........................