This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Profire Energy Announces Financial Results For 2013 Third Fiscal Quarter Ended December 31, 2012

LINDON, Utah, Feb. 14, 2013 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (OTCBB:PFIE), a technology company which manufactures, installs and services burner management systems and other combustion management technologies for the oil and gas industry, today announced that it has filed its Quarterly Report on Form 10-Q for its fiscal quarter ended December 31, 2012 with the U.S. Securities and Exchange Commission.

The company reported total revenues for the three and nine months ended December 31, 2012 of $3,541,061 and $11,597,927 (a 30% and 6% decrease, respectively, from the same periods of fiscal 2012). During the three months ended December 31, 2012 the company realized a net loss of $326,269 (compared to net income of $895,035 during the same quarter of fiscal 2012). During the nine month period ended December 31, 2012 the company realized net income of $884,596 (a 69% decrease from the same period of fiscal 2012). The company's working capital (i.e. current assets less current liabilities) increased from $6,348,108 at December 31, 2011 to $7,411,662 at December 31, 2012.

"The mixed nature of our Q3 financial results was expected by company management, given the number of long-term investments made in the quarter," said Andrew Limpert, chief financial officer of Profire. "Historically, we have had periods of concentrated investment and periods of concentrated return, which is largely due to our historical commitment to finance operations with organic cash flow. As we continue to grow, we anticipate the amounts we invest to increase, as we anticipate the corresponding returns to increase. Over time, this critical mass should yield decreased volatility in our quarterly financial results."

Speaking to the context of the quarter's results, Limpert continued:

"We anticipate a strong finish to fiscal 2013 and a strong year of financial opportunity in fiscal 2014 as we leverage these investments. We have already started seeing returns on past investments in value-adding personnel, as this quarter saw a decrease in total cost of goods sold (COGS) as a percentage of total revenues from 56% to 39%, in Q3 of FY2012. This increase in margin is largely due to hiring experienced supply chain personnel to source and order parts efficiently, and manage inventory efficiently."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs