News Feed Item
Plaintree Systems Inc. Announces Fiscal 2014 Results
|By Business Wire
|July 25, 2014 08:05 AM EDT
Plaintree Systems Inc. (Plaintree, traded on CSE under the symbol NPT).
Fiscal 2014 Results
Plaintree announced today that it has released its audited consolidated
financial statements and related management discussion and analysis for
the twelve months ended March 31, 2014.
During fiscal 2014, Plaintree realized revenues of $20,803,602 up from
$13,790,759 in fiscal 2013 and a net loss of $1,711,371 compared to a
net income of $373,286 in fiscal 2013. Net loss consists of losses from
operations of $1,143,213 and a write-down of related party receivable
from Spotton Corporation, acquired by Plaintree in April 2014, in the
amount of $568,158.
“Our largest project, a stainless steel dome, was to have been installed
in the fall of 2013 in Saskatchewan,” said David Watson, CEO of
Plaintree. “However, mobilizing delays, site access and manpower
availability issues ended up pushing the installation well back into the
coldest and windiest winter this Province had seen in over 100 years.
This resulted in our installation costs soaring over 700% and
effectively offsetting any profit for the year and causing our Cost of
Goods Sold percentage to be much higher than the previous years.”
“However, even after this unfortunate cost overrun, if you look at the
Company’s performance on an EBITDA basis and add back the extraordinary
loss attributable to the Spotton acquisition, Plaintree was about
breakeven for the year.”
For more information on these results, please refer to Plaintree’s
annual 2014 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, Arnprior Fire Trucks Corp., a manufacturer of
high end fire and emergency vehicles and the newly acquired Spotton
Corporation, a design and manufacturer of high end custom hydraulic and
pneumatic valves and cylinders.
The Electronics Division includes the legacy Hypernetics, Summit
Aerospace USA Inc. and Plaintree free space optics (FSO) businesses.
Plaintree’s FSO systems transmit data at high speeds using beams of
light instead of traditional radio frequency which can suffer from
congestion. 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.
Plaintree’s shares are traded under the symbol “NPT”. Shareholders and
Investors can access Company information on CSE’s website and receive
full Company disclosure monthly. For more information on Plaintree or to
receive stock quotes, complete with trading summaries, bid size and ask
price, brokerage house participation, insider reports, news releases,
disclosure information, and CSE and SEDAR filings, visit the CSE website
or the Company’s website at www.plaintree.com.
Plaintree is publicly traded in Canada on the CSE (NPT) with 12,925,253
common shares and 18,325 class A preferred shares outstanding.
This press release may include statements that are forward-looking
and based on current expectations. The actual results of the
company may differ materially from current expectations. The
business of the company is subject to many risks and uncertainties,
including changes in markets for the company’s products, delays in
product development and introduction to manufacturing and intense
competition. For a more detailed discussion of the risks and
uncertainties related to the company’s business, please refer to
documents filed by the company with the Canadian regulatory authorities,
including the annual report of the Company for the fiscal year ended
March 31, 2013 and related management discussion and analysis.
Canadian Securities Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
For further information:
Plaintree Systems Inc.
Anna Pelkey, 613-623-3434 x2261
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service.
In his session at 19th Cloud Exp...
Dec. 2, 2016 05:15 PM EST Reads: 312
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data professionals...
Dec. 2, 2016 05:00 PM EST Reads: 4,059
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Dec. 2, 2016 04:45 PM EST Reads: 2,088
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica.
Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Dec. 2, 2016 04:45 PM EST Reads: 1,954
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Dec. 2, 2016 04:15 PM EST Reads: 316
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be.
We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Dec. 2, 2016 04:15 PM EST Reads: 287
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 2, 2016 04:01 PM EST Reads: 232
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
Dec. 2, 2016 04:00 PM EST Reads: 1,854
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 2, 2016 03:45 PM EST Reads: 629
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Dec. 2, 2016 03:30 PM EST Reads: 3,183
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
Dec. 2, 2016 03:15 PM EST Reads: 1,440
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud.
In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Dec. 2, 2016 02:15 PM EST Reads: 1,510
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics.
In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Dec. 2, 2016 02:00 PM EST Reads: 4,818
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Dec. 2, 2016 01:30 PM EST Reads: 5,692
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Dec. 2, 2016 01:30 PM EST Reads: 1,805