Firan Technology Group Corp FTGFF

Mathieu Martin - Stocks and Stones - The Good, The Bad......

[Possibleidiot01]

The Good

1. Firan Technology Group (TSX: FTG), an aerospace and defence supplier, announced solid quarterly financial results. Revenues were up 18%, adjusted EBITDA was up 45%, and net earnings were up 109% year-over-year. The company also announced the acquisition of FLYHT Aerospace Solutions (TSX-V: FLY) for approximately $0.34 per share, a 41% premium to the last closing price. FLYHT had been struggling financially over the previous few years and had seen its share price decline over 90% from peak to trough. The acquisition looks very strategic and opportunistic for Firan. Assuming a smooth integration, which Firan has a solid track record of doing, FLYHT could become a profitable asset under Firan's ownership.

[tannin]

Possibleidiot, my comment on growth, really meant growth was by acquisition. New financials show success of strategy/integration. As to FLY, adds hugely to Firan's future growth, diversification and profitability; given that, whatever dirt cheap is, the price being offered for FLY is below that. Great for Firan.....unless another player with a more reasonable offer arrives on the scene. I'