Profire Energy Ranked as One of the Fastest-Growing Companies in North America by Deloitte
Profire Lists on Deloitte's Technology Fast 500 for Second Consecutive Year; Revenue Growth Rate Attributed to Expanding Market Opportunity and Strong Sales Execution
LINDON, Utah, Nov. 14, 2014 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (Nasdaq:PFIE), a technology company which creates, installs and services burner management systems and other combustion technologies for the oil and gas industry, has ranked 434 by Deloitte on its Technology Fast 500™ due to its revenue growth rate over the last five years.
The list ranks the 500 fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America based on their percentage of annual revenue growth from 2009 to 2013.
"We're honored to once again be recognized as one of the fastest-growing companies in North America by Deloitte," said Profire Energy president and CEO, Brenton Hatch. "The ranking is a reflection of our strong sales and service teams and their consistent and effective execution. Their efforts, coupled with the innovative products created by our research and development team, has established Profire as an industry leader in burner management technologies. We anticipate the growing awareness and demand for our burner management solutions to drive continued growth."
About Deloitte's 2014 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2009 to 2013.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of rank years and be headquartered within North America.
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. To learn more about Profire Energy, visit www.ProfireEnergy.com.
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 Fast 500 ranking and its implications for the Company having a strong sales team, the Company's future, the Company's execution of its long-term objectives, or the sales team, coupled with Profire's research and development team continuing to establish the Company as an industry leader in burner management technologies, or their being a growing awareness and demand for burner management solutions. 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, VP of Strategy & Finance (801) 796-5127 Liolios Group, Inc. Ron Both, Senior Managing Director (949) 574-3860 PFIE@liolios.com
Released November 14, 2014