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Plaintree Systems Inc. (Plaintree, traded on CNSX under the symbol NPT).
Plaintree announced today that it has released its unaudited interim condensed consolidated financial statements and related management discussion and analysis for the nine months ended December 31, 2011.
During the third quarter of fiscal 2012, Plaintree realized revenues of $2,374,062 and a net loss of $714,840.
For the first three quarters of fiscal 2012, sales totaled $10,085,245 compared to $8,599,372 for the same period in fiscal 2011 and a net loss of $185,600, compared to a net income of $666,161 for first nine months of fiscal 2011. The results for the nine month period ended December 31 2011 includes a full nine months of operational expenses relating to the launching of Arnprior Fire Trucks Corp., moving and renovation expenses associated with the Company moving into a new 135,500 sq/ft building in Arnprior and the carrying costs of the two, now vacant and available for sale, manufacturing buildings owned by the Company. The nine month period ended December 31 2010 included only several weeks of the above described expenses.
As a result of the Company completing its move into the new 135,500 sq/ft building in Arnprior, Ontario, the two Company owned buildings previously used by the Company for manufacturing have now been put up for sale.
Basic (loss) earnings per share after deduction for accrued dividends on the Preferred Shares was $(0.10) and $(0.03) for the respective first nine months of fiscals 2012 and 2011.
On February 6, 2012, Plaintree announced the purchase of all the assets and business of Summit Tool Corporation in Pocono Summit, Pennsylvania. This new company specializes in high end machining of super-alloys for the aircraft and helicopter markets. Operations will continue in its present location under the name of Summit Aerospace USA Inc as a wholly-owned subsidiary of Plaintree Systems Inc.