Profire Energy to Release FY2013 Financial Estimates and FY2014 Financial Forecasts on May 6, 2013
"Financial Outlook" to Include Revenue and Net Income Figures, to be Posted on ProfireEnergy.com
LINDON, Utah, May 2, 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 will release revenue and net income estimates for its 2013 fiscal year, as well as revenue and net income forecasts for its 2014 fiscal year, which will be available on www.ProfireEnergy.com on May 6, 2013.
"We are pleased to announce that for the first time, we will be releasing a financial outlook for followers of the company. This year's outlook—which we plan to release on May 6—will include our revenue and net income estimates for FY2013, and also forecasts for FY2014," said Andrew Limpert, chief financial officer of Profire. "By releasing these numbers, we hope to provide insight into 2014 for our shareholders."
The company emphasized that ongoing guidance will not be provided during the year, but hopes the new financial benchmarks can be used to measure company performance during the year.
"These estimates and forecasts are really about transparency and expectations," said Nate McBride, Finance and Communications at Profire. "To the degree possible, we want to help our shareholders see what we see, and not just after a financial period is over. To that end, we anticipate that these forecasts will—in some way—help communicate our current expectations for the upcoming fiscal year."
The forecasts are expected to include:
- FY 2013 revenue estimate (unaudited)
- FY 2013 net income estimate (unaudited)
- FY 2014 revenue forecast
- FY 2014 net income forecast
- Illustrations of historical and forecasted financials
About Profire Energy, Inc.
Profire Energy assists energy production companies in the safe and efficient transportation, refinement and production of oil and natural gas. As energy companies seek greater safety for their employees, compliance with more stringent EPA standards and enhanced margins with their energy production processes, Profire Energy's burner management systems are increasingly becoming part of their solution. To learn more about the company's products and services, please visit www.profireenergy.com. Profire Energy has offices in Lindon, Utah; Houston, Texas; and Edmonton, Alberta, Canada.
Cautionary Note Regarding Forward-Looking Statements. This release contains "forward-looking" statements, including, but not limited to statements about the release of estimates and forecasts and the potential benefits of such information. Financial estimates and forecasts will be based on management's current expectations regarding future events. By their nature such forward-looking statements are subject to uncertainty and changes in circumstances. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include changes in economic, business and market conditions, competitive factors, changes in accounting principles, policies and guidelines, legislative changes and regulatory risks and factors identified in the Company's periodic reports filed with the Securities Exchange Commission. All forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.
CONTACT: Profire Energy, Inc. Andrew Limpert, CFO (801) 796-5127 Profire Energy, Inc. Nathan McBride, Finance & Communications (801) 796-5127
Released May 2, 2013