Plaintree Profits Down in Fiscal 2014
OTTAWA, Ontario, Canada, July 25, 2014 — Plaintree Systems Inc. reported a net loss of $1.7 million in the fiscal year ended March 31, down from a fiscal 2013 profit of $373,286.
The company attributed the net loss to the acquisition of Spotton Corp. and weather-related cost overruns on the installation of a stainless steel dome in Saskatchewan. During fiscal 2014, Plaintree realized revenues of $20.8 million, up from $13.8 million in fiscal 2013.
Plaintree’s business includes free-space optics systems that enable data and voice transmission through the air using eye-safe LEDs. The company also deals in specialty structures and avionic components.
For more information, visit www.plaintree.com