Plaintree revenue climbs

Plaintree-cropped.JPG OTTAWA – Optical wireless equipment manufacturer Plaintree Systems Inc. records third quarter 2009 revenue of $4.93 million, compared with $3.22 million in Q3 2008. Net income before taxes is $761,000, compared with a loss of $58,000 in the comparable period in 2008. Year-to-date revenue is $16.82 million, vs $10.1 million in the first nine months of fiscal 2008. Net income before taxes for the third quarter is $3.81 million, compared with $654,000 in the corresponding nine months of last fiscal year. The results include the accounts of two companies acquired in April 2008, Hypernetics Limited and Triodetic Building Products Inc. The continuity of interest method, whereby the current and comparative results are presented as if the companies have always been combined, is used in presenting the financial statements.

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