Profire Energy Ranked as One of the Fastest-Growing Companies in North America by Deloitte
Profire Lists on Deloitte’s Technology Fast 500 for Third Consecutive Year; Revenue Growth Attributed to Increased Market Opportunity, Product Expansion and Strong Sales Execution
LINDON, Utah, Nov. 13, 2015 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (Nasdaq:PFIE), a technology company which creates, installs and services oilfield burner and chemical management solutions in the oil and gas industry, is ranked 221 by Deloitte on their Technology Fast 500™ due to its fiscal revenue growth rate in recent years.
Deloitte’s list recognizes the 500 fastest-growing technology, media, telecommunications, life sciences, and energy tech companies in North America based on percentage of fiscal year revenue growth from 2011 to 2014.
“It’s great to be recognized again as one of the fastest-growing companies in North America,” said Profire Energy president and CEO, Brenton Hatch. “Although industry conditions have made growth more difficult in recent quarters, this recognition speaks to our team’s historical growth and performance, which we continue to pursue. In particular, our sales, service, and engineering teams’ effective execution—especially amid these industry conditions—has been noteworthy. Their work allows us to continue to provide an innovative product line, further establishing Profire as an industry leader for burner management and chemical injection solutions.”
About Deloitte's 2015 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2011 to 2014.
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 four 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 and chemical injection systems are becoming part of their solution. Profire Energy has offices in Lindon, Utah; Houston, Texas; Victoria, Texas; Oklahoma City, Oklahoma; Tioga, Pennsylvania; Greeley, Colorado 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 Profire’s efforts to pursue growth and performance previously experienced in the Company’s past; or, Profire’s sales, service, and engineering team’s effective execution which allows the Company to continue to provide an innovative product line which further establishes Profire as an industry leader for burner management and chemical injection 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 and 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.
Profire Energy, Inc. Nathan McBride, VP of Strategy (801) 796-5127 Profire Energy, Inc. Tanner Lamb, Finance and Investor Relations (801) 796-5127
Released November 13, 2015