Firan Technology Group Corporation (“FTG”) Announces Delay in Full Year and Fourth Quarter 2019 Earnings Release and Conference Call

TORONTO, Feb. 12, 2020 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX:FTG) has delayed the release of the full year and fourth quarter 2019 financial results, and will announce a new date as soon as it is firm.

The delay is required to allow the Corporation to finalize the impacts, if any, of applying IFRS 15 Revenue from Contracts with Customers and related disclosures within the financial statements.

The Corporation will host a live conference call following the release of results.

ABOUT FIRAN TECHNOLOGY GROUP CORPORATION

FTG is an aerospace and defense electronics product and subsystem supplier to customers around the globe. FTG has two operating units:

FTG Circuits is a manufacturer of high technology, high reliability printed circuit boards.  Our customers are leaders in the aviation, defense, and high technology industries.  FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia  and a joint venture in Tianjin, China.

FTG Aerospace manufactures illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of aerospace and defense equipment.  FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California, Fort Worth, Texas and Tianjin, China.

The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements.  These forward-looking statements are related to, but not limited to, FTG’s operations, anticipated financial performance, business prospects and strategies. Forward-looking information  typically contains  words  such  as  “anticipate”, “believe”,  “expect”, “plan” or similar  words  suggesting  future  outcomes.    Such  statements  are  based  on  the  current  expectations  of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation’s industry, generally.  The preceding list is not exhaustive of all possible factors.  Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation.  The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

For further information please contact:

Bradley C. Bourne, President and CEO
Tel: [phone] x 314
Firan Technology Group Corporation
[e-mail]

James Crichton, Vice President and CFO
Tel: [phone] x 264
Firan Technology Group Corporation
[e-mail]

Additional information can be found at the Corporation’s website   www.ftgcorp.com