Profire Energy, Inc. Announces Financial Results of Third Fiscal Quarter
SALT LAKE CITY, UT and EDMONTON, AB -- (MARKET WIRE) -- 02/11/10 -- Profire Energy, Inc. (OTCBB: PFIE) reported total comprehensive income of $1,053,022 and EPS of $0.02 on revenues of $2,636,442 during the quarter ending December 31, 2009. By comparison, during the same period last year the Company reported a total comprehensive loss of $32,105 and EPS of $0.00 on revenue of $1,589,030. During the first nine months of fiscal 2010, Profire has realized total comprehensive income of $1,439,751 and EPS of $0.02 compared to total comprehensive income of $434,204 and EPS of $0.01 during the first nine months of fiscal 2009.
Harold Albert, COO of Profire Energy, commented, "We are pleased with our performance during the third fiscal quarter and anticipate that due to the relationships we have built with our customers, the success of our existing products and our planned product developments, this momentum should continue to grow."
CEO and President of Profire Energy, Brenton Hatch, noted, "This has been an exciting and challenging year for Profire Energy. We have undertaken efforts to increase our distribution channels, increased our employee base, continued to improve and enhance our product offerings, all while navigating the volatile energy markets in our ongoing efforts to establish Profire as an industry leader."
Profire Energy manufactures, installs and services oilfield burner management systems and related combustion products. Its products aid oil and natural gas producers in the safe, efficient, development and transportation of carbon-based fuels. Profire's lead product is the Profire 1100, which is a control unit that provides reliable management of the combustion system that oil and gas producers rely on.
To learn more about Profire's products and services, please take a moment to view the Company's website at www.profireenergy.com. Profire has offices in Salt Lake City, Utah 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.
Contacts: For inquiries please contact Andrew Limpert CFO (780) 690-5278 E-mail: Email Contact
Released February 11, 2010