Profire Energy Releases Holiday Letter for Stakeholders, Highlights Company-Communication Policy
Company Reviews Significant Milestones for Year; Integrity, Clarity, and Management Availability Key Values for Company Communications
LINDON, Utah, Nov. 24, 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, today published its annual stakeholder letter—which has historically been mailed to stakeholders—on its website. The Company also clarified its communication policy, in response to a handful of recent questions from shareholders regarding an online article about the Company.
The Company published its annual stakeholder letter on its website, which has historically been mailed to stakeholders.
In conjunction with the release of the Company's annual stakeholder letter, Brenton Hatch, Chief Executive Officer, spoke to its communication policy.
"Accurate and clear communication—both financial and otherwise—are central to our relationship with stakeholders," said Hatch. "This emphasis is led by our management team and shared by our independent-majority Board of Directors—whose experience includes serving on the Audit Committee of the US Air Force and directing many public companies. Integrity, clarity, and access to management are the central priorities for us when it comes to stakeholder communication."
"We've received a few questions recently about a disparaging online article that was published last week by a paid antagonist and short-seller of the Company's stock. We believe most of our stakeholders know the article contains many inaccuracies, and we simply want to emphasize that we believe the best indicator of performance is performance itself. Our history shows the simple, straightforward story of Profire of disciplined growth and management to deliver long-term stakeholder value. If a stakeholder has genuine concerns about management, we invite you to report such to the proper regulatory body—not a self-serving online platform."
"We do not plan to publicly address this article further, and encourage stakeholders to do their own due diligence and contact us anytime with relevant, genuine questions about the Company. We will gladly discuss any concerns or questions with you."
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 Company addressing the article further to clarify untruthful discrepancies. 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 24, 2014