SOURCE: Profire Energy, Inc.

August 15, 2011 11:20 ET

Profire Energy Inc., Announces Financial Results of the 2012 First Fiscal Quarter

LINDON, UT and EDMONTON, AB--(Marketwire - Aug 15, 2011) - Profire Energy, Inc. (OTCBB: PFIE) reported net income before income taxes of $1,068,710 and total comprehensive income of $735,268 on total revenues of $2,683,724. By comparison, during the Company's 2011 first fiscal quarter, it realized a net loss before income taxes of $116,846 and a total comprehensive loss of $185,330 on total revenues of $771,624. Earnings per share for the first fiscal quarter 2012 were $.02.

The Company continues to execute it long-term strategic growth plan, including expansion of its sales presence into the U.S. The Company's U.S.-based sales staff has been successful in recently obtaining several purchase orders from customers located in the U.S. To accommodate its growth strategy, the Company is currently building out the additional space it acquired in Lindon, Utah, U.S.A. and Spruce Grove, Alberta, Canada and is developing several new products designed to meet the demands of the Company's customers.

The Company manufactures, installs and services oilfield combustion management systems and related burner products. Its products and services aid oil and natural gas producers in the safe and efficient development and transportation of carbon-based fuels. The Company's lead products are the Profire 2100 and the Profire 1100, which are burner management systems that provide reliable management and ignition of combustion burners and associated vessels such as separators, dehydrators, line heaters, incinerators, etc. that oil and gas producers rely on.

To learn more about Profire Energy's products and services, please take a moment to view the Company's website at www.profireenergy.com. Profire has offices in Lindon, Utah, U.S.A and Edmonton, Alberta, Canada

The information contained in this release includes forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. Certain statements contained herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied. Forward-looking statements involve risks and uncertainties, including but not limited to, risks described in the Company's periodic reports on file with the Securities and Exchange Commission.

Contact Information

  • Contacts:
    For inquiries please contact
    Andrew Limpert
    (801) 796-5127
    E-mail: Email Contact