April 8 (Reuters) - Firan Technology Group Corp FTG.TO :
* FIRAN TECHNOLOGY GROUP CORPORATION (“FTG” OR “THE CORPORATION”) ANNOUNCES FIRST QUARTER 2020 FINANCIAL RESULTS
* FIRAN TECHNOLOGY GROUP CORP - QTRLY LOSS PER SHARE $0.11
* FIRAN TECHNOLOGY GROUP CORP - QTRLY SALES $24.5 MILLION VERSUS $25.4 MILLION
* FIRAN TECHNOLOGY GROUP - INCLUDED IN Q1 2020 NET LOSS WAS NON-CASH EXPENSE TO REDUCE INTANGIBLE ASSET FROM ACQUISITION IN 2016 DUE TO INCREASED MARKET UNCERTAINTY GOING FORWARD
* FIRAN TECHNOLOGY GROUP CORP - ENDED Q1 2020 WITH OVER $51 MILLION IN TOTAL BACKLOG. OF THIS, OVER $30 MILLION IS DUE IN Q2 2020
* FIRAN TECHNOLOGY GROUP - DROP IN QTRLY AEROSPACE NET EARNINGS DUE TO REDUCED SALES FROM SIMULATOR RELATED MARKET, SHUTDOWN OF AEROSPACE TIANJIN IN FEB DUE TO COVID-19 PANDEMIC