Plaintree earnings rise on 2008 acquisitions

OTTAWA – Plaintree Systems Inc. shows a 54% rise in sales in fiscal 2009, on the strength of the combined revenue of all businesses including acquisitions Hypernetics and Triodectic. Revenue of $21.4 million, up from $13.8 million in fiscal 2008, produced net income of Plaintree-cropped.JPG$4.84 million, more than six times 2008’s profit of $721,835. “With the first full year of the newly restructured Plaintree Systems Inc. under our belts, I think it would be an understatement to say that the restructuring was quite positive for the company,” says Plaintree CEO David Watson. “It’s even more impressive when you consider that Plaintree's exemplary performance in 2009 was attained even though the last two quarters of our 2009 fiscal year corresponded to the beginning of one of the worst global economic meltdowns in recent memory.” For complete results click here.

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