Plaintree Systems Inc. ( Plaintree, traded on CNSX under the symbol NPT).
Fiscal 2012 Results
Plaintree announced today that it has released its audited financial statements and related management discussion and analysis for the year ended March 31, 2012.
During fiscal 2012, Plaintree realized revenues of $12,640,541 compared to $11,040,555 in fiscal 2011 and net loss of $(631,833), compared to a net income of $313,295 in fiscal 2011. Basic and diluted loss per share was $(0.16) and $(0.09) in fiscals 2012 and 2011 respectively.A bad debt account of $233,092 and inventory write-downs of $273,359 are included in the losses of fiscal 2012. “Throughout the world-wide economic downturn that affected us in 2010, we have continued to invest heavily in the Plaintree operations,” said David Watson, CEO. “In the past two years, we have invested over four million dollars in our new plant and state of the art equipment. Add to this our recent acquisition of Summit Aerospace USA Inc. located in the USA and it is easy to see our commitment to the future.” For more information on these results, please refer to Plaintree’s annual 2012 financial statements together with the related Management’s Discussion and Analysis report, copies of which can be obtained from the Company’s website at www.plaintree.com and/or under Plaintree’s name at www.sedar.com. About Plaintree Systems Plaintree has two diversified product lines consisting of Specialty Structures and Electronics. The Specialty Structures Division includes the former Triodetic Group with over 40 years of experience, is a design/build manufacturer of steel, aluminum and stainless steel specialty structures such as commercial domes, free form structures, barrel vaults, space frames and industrial dome coverings, and the newly formed Arnprior Fire Trucks Corp., a manufacturer of high end fire and emergency vehicles.