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ARNPRIOR, ON / ACCESSWIRE / November 22, 2024 / Plaintree Systems Inc. (CSE:NPT) ("Plaintree" or the "Company").
Quarterly Statements for the Second Quarter of Fiscal 2025 ending September 30, 2024.
Plaintree announced today that it has released its unaudited interim consolidated financial statements and related management's discussion and analysis for the six months ending September 30, 2024.
For the quarter ending September 30, 2024, Plaintree realized revenues from operations of $6,845,529 as compared to $5,177,886 for the same period in fiscal 2024. During the first six month ending September 30, 2024, Plaintree realized revenues from operations of $14,128,213 as compared to $12,930,877 for the same period in fiscal 2024.
Net loss was $(610,524) for the quarter ending September 30, 2024 as compared to net loss of $(43,868) for the same period a year earlier. During the first six month ending September 30, 2024, Plaintree realized had a Net Income of $515,554 as compared to $621,005 for the same period in fiscal 2024.
"The company remains profitable on a year-to-date basis, but this quarterly loss reflects timing and cost realizations on large projects that span multiple quarters and years." said David Watson.
Additional information relating to the Company, including the financial statements, may be found on SEDAR at www.sedarplus.ca or the Company's website at www.plaintree.com.
About Plaintree Systems
Plaintree has two diversified product divisions consisting of Specialty Structures and Applied Electronics.
The Specialty Structures division includes the 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, foundations for unstable soil conditions and flood zones, for free form structures, barrel vaults, space frames and industrial dome coverings, and Spotton Corporation, a design and manufacturer of high end custom hydraulic and pneumatic valves and cylinders.
The Applied Electronics division includes the legacy Hypernetics, Summit Aerospace USA Inc. and Elmira Stove Works Inc. businesses. Hypernetics was established in 1972 and is a manufacturer of avionic components for various applications including aircraft antiskid braking, aircraft instrument indicators, solenoids, high purity valves and permanent magnet alternators. Summit Aerospace USA Inc. provides high precision machining to the aerospace and defense markets. Our facility includes 5 axis CNC precision machining of complex castings and large ring parts such as turbine and assembly shrouds as well as assembly & pressure seals. Summit will support requirements from concept, prototype and throughout production. Elmira Stove Works Inc a manufacturer of high-end heritage and retro-styled kitchen appliances under the brand names "Northstar", "Fireview" and "Heritage".