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Profire Energy, Inc. (NASDAQ: PFIE) is a leading oilfield technology company based in Lindon, Utah, with additional offices in Houston, Texas, and Edmonton, Alberta, Canada. Profire Energy is dedicated to enhancing the efficiency, safety, and reliability of industrial combustion appliances used in the oil and gas industry. The company specializes in burner-management systems (BMS), which are critical for the safe and efficient operation of natural-draft fire tube vessels.
Profire Energy’s products are designed to help energy production companies comply with stringent EPA standards, ensure employee safety, and improve operational margins. Their BMS solutions have become a staple in the industry, contributing significantly to the overall safety and efficiency of oil and gas operations.
In addition to BMS, Profire Energy offers a range of complementary oilfield products, addressing various needs within the energy sector. The company operates primarily in the United States and Canada, with the majority of its revenue generated from the U.S. market.
Recent achievements highlight Profire Energy’s sustained momentum and growth. The company reported its best six-month revenue and net income in its history for the second quarter of 2023. Total revenues equaled $14.4 million, with a gross profit of $7.4 million, reflecting a year-over-year increase driven by ongoing customer demand and diversification efforts. Notably, the company achieved the highest quarterly net income and EBITDA in its history.
Profire Energy’s strategic focus includes a strong emphasis on diversification, particularly within the renewable natural gas sector. The company has completed multiple installations for various industries, including food and beverage, industrials, and landfill customers, which are part of their broader Critical Energy Infrastructure segment.
Financially, Profire Energy remains robust. For the third quarter of 2023, the company reported revenues of $14.8 million, a gross profit of $7.5 million, and operating expenses of $4.9 million. The net income for the quarter was $2.0 million, demonstrating consistent performance and growth. The company's balance sheet remains strong, with cash and liquid investments totaling $20.0 million at the end of 2023, and the company continues to operate debt-free.
Profire Energy’s forward-looking strategy includes further diversification of its revenue streams and the implementation of tax planning strategies that have significantly benefited the company’s financial performance. The company’s commitment to delivering long-term value to shareholders is evident in its plans for share repurchases and strategic investments in growth opportunities.
For more information about Profire Energy’s products and services, please visit their website at www.profireenergy.com.
Profire Energy, Inc. (NASDAQ: PFIE) announced a conference call on May 10, 2023, at 8:30 a.m. ET to discuss its first-quarter financial results for the period ending March 31, 2023. The financial results will be disclosed in a press release prior to the call. Co-CEOs Ryan Oviatt and Cameron Tidball will lead the discussion, which will include a question-and-answer session. Interested parties can join the call via toll-free and international dial-in numbers and can also access a live webcast. A replay of the call will be available post-event until May 24, 2023. Profire Energy focuses on enhancing the efficiency and safety of industrial combustion appliances, primarily in the oil and gas industry, but is exploring applications in other sectors. The company emphasizes its commitment to mitigating environmental impacts associated with industrial operations.
Profire Energy, Inc. (NASDAQ: PFIE) announced strong financial results for Q4 and the full year 2022, marking its second-highest quarterly revenue in company history. Q4 revenue reached $14.0 million, up 69% year-over-year, with a gross profit of $6.6 million and a net income of $1.8 million ($0.04 per diluted share). Full-year revenue totaled $45.9 million, a 74% increase, and net income was $3.9 million ($0.08 per diluted share). The company remains debt-free with $16 million in liquid assets, and has repurchased 961,221 shares. Executives express confidence in continued growth amidst ongoing supply chain challenges.
Profire Energy (NASDAQ: PFIE) announces a conference call scheduled for March 9, 2023, at 8:30 a.m. ET to discuss its 2022 fiscal year results. The financial results will be filed with the SEC and reported in a press release prior to the call. Co-CEOs Ryan Oviatt and Cameron Tidball will host the presentation, followed by a Q&A session. Interested parties can join via toll-free dial-in or international numbers. A webcast will also be available for live streaming and replay for one year. Profire Energy focuses on enhancing combustion efficiency and safety, primarily in the oil and gas sector, and is exploring applications in other industries.
Profire Energy, a technology company focused on enhancing industrial combustion efficiency, announced that Co-CEOs Ryan Oviatt and Cameron Tidball will present at the Southwest IDEAS Investor Conference on November 17, 2022. The presentation is set for 10:15 AM CT and will be available via a live webcast. Investors interested in attending can contact Steven Hooser at (214) 872-2710. Profire specializes in combustion management systems and is actively expanding its presence beyond the oil and gas sectors.
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