Plaintree Systems Inc. announces results for the third quarter of fiscal year 2024

Plaintree Systems Inc. (CSE:NPT) has released its unaudited consolidated financial statements and management's discussion and analysis for the three and nine months ending on December 31, 2023. During this quarter, the company reported operating revenues of $4,857,244, compared to $6,238,193 for the same period in 2023. Consolidated revenues for the first nine months of fiscal year 2024 amounted to $17,788,121 compared to $16,545,490 in the previous year.

A net loss of $173,920 was recorded for this quarter, as opposed to a net income of $830,907 for the same quarter last year. The year-to-date net income for fiscal year 2024 stands at $447,085 for the nine months ending on December 31, 2023, compared to $1,390,041 for the same period last year.

David Watson, CEO of Plaintree, highlights the variable nature of the company's financial performance, attributed to major contracts in its Triodetic division. He announces a record order backlog for Triodetic, which is expected to positively impact results starting from the first quarter of fiscal year 2025.

Plaintree operates in two diversified divisions: Special Structures and Applied Electronics, encompassing various companies specialized in the manufacturing of special structures and electronic and mechanical components. Plaintree's shares are traded under the symbol "NPT".