Corporate Update: Profire Opens New Service Center, Testing Recurring-Revenue Service Model
Company Secures New Office in Victoria, Texas and Upgrades Pennsylvania Satellite Office to Service Center
LINDON, Utah, May 19, 2014 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (Nasdaq:PFIE), a technology company which manufactures, installs and services burner management systems and other combustion technologies for the oil and gas industry, today announced that it has opened a new service center in Victoria, Texas, and has upgraded its Pennsylvania satellite office to a service center, now located in Tioga, PA.
The expansion is expected to accommodate the Company's growing service and sales teams, support growing product-sales, and help test a new recurring-revenue service model. The Company emphasized, however, that supporting product sales is still the service team's first priority.
"The recent service expansions in Texas and Pennsylvania are first and foremost to ensure that each customer can be reached quickly by our service team," said Brenton Hatch, Chief Executive Officer of Profire. "We want each product sale to be quickly and confidently supported by our service experts, and these new facilities will help us do that."
The expansions brings the Company's office count to six:
- Lindon, Utah
- Edmonton, Alberta
- Oklahoma City, Oklahoma
- Houston, Texas
- Victoria, Texas
- Tioga, Pennsylvania
To learn more about Profire Energy or its products, please contact Profire Energy, or visit www.ProfireEnergy.com.
About Profire Energy, Inc.
Profire Energy assists energy production companies in the safe and efficient production and transportation of oil and natural gas. As energy companies seek greater safety for their employees, compliance with more stringent regulatory standards, and enhanced margins with their energy production processes, Profire Energy's burner management systems are increasingly becoming part of their solution. Profire Energy has offices in Lindon, Utah; Houston, Texas; Victoria, Texas; Oklahoma City, Oklahoma; Tioga, Pennsylvania; and Edmonton, Alberta, Canada.
Cautionary Note Regarding Forward-Looking Statements. Statements made in this release that are not historical are forward-looking statements. This release contains forward-looking statements, including, but not limited to statements regarding the expectation that the expansion will accommodate the Company's growing service and sales teams; the growth of the Company's service and sales teams; the purposes of opening/expanding offices; the efficacy of the new facilities to help each product sale be quickly and confidently supported by the Company's service team; and the feasibility or likeliness of the Company's recurring-revenue model being successful. All 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 certain economic, business, public market 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, except as required by law. 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 Liolios Group, Inc. Ron Both, Senior Managing Director (949) 574-3860 RGSE@liolios.com
Released May 19, 2014