Profire Energy, Inc. (OTCBB: PFIE) in the last month has traded down from $0.90 since the Company reported record financial results on November 14, 2011 to roughly $0.75 in the last few days. Read More

The oil and gas industry receives plenty of press on a daily basis, as commodity traders thrive on its volatility and as majors such as Exxon Mobil Corp. (NYSE: XOM) help drive the Dow Jones Industrial Average.  There is a component to the oil and gas industry that, while less publicized, plays a critical role in the safety and efficiency of oil and gas production that is garnering more industry attention.  From an investors’ standpoint, this subsector carries a larger upside than the majority of “typical” plays in the oil Read More

Profire Energy, Inc. (OTCBB: PFIE) manufactures, installs and services oilfield combustion management systems and related burner products. Its products and services aid oil and natural gas producers in the safe and efficient development and transportation of carbon-based fuels. Profire is a market leader in Burner Management Systems (BMS) in terms of market share for the Profire Burner Management System, which is a fired heater skid mounted valve, piping, and logic safety system used to control when fuel gas is allowed to flow to the heater burners and pilots. Safe startup of fired heaters is a function of properly following established procedures for purging, pilot ignition and main burner operation.

The Company’s lead products are: Profire 2100 and Profire 1100, which are burner management systems that oil and gas producers rely on to provide dependable management and ignition of combustion burners and associated vessels such as separators, dehydrators, line heaters, incinerators, etc.

On November 14, 2011, Profire reported net income before taxes for the 9/30/11 quarter of $1.65 million on total revenues of $4.5 million. In the same quarter of 2010, Profire had net income before taxes of $894,093 and total revenues of $2,137,022., which were up 112% and 104%, respectively.

For the six month period ended September 30, 2011, revenues were $7.2 compared to $2.9 million, a 147% increase. Net income before taxes totaled $2.7, a 249% increase over the 2010 comparable period.

Andrew Limpert, Chief Financial Officer of Profire Energy stated in the press release:

The Company continues to grow at an accelerating rate. The products, specifically the PF 2100, are being well-received by existing and new clients. Further, we are encouraged by the increase of energy development activity in many areas of the US and Canada, and will continue to execute our strategic growth plan to address this expansion in the energy sector.

Profire is a also a leader in terms of research and development in the BMS market as exemplified by their establishment of their subsidiary, Profire Research and Development Engineers. This group has recently added multiple engineering modifications to:

• PF Ignition Coil,
• BMS Enclosure, associated stability and mounting brackets,
• Other accessories required for optimized application of ignition and combustion vessel safety management.

Benefits achieved for the PF 2100 through these efforts include:

• Greater durability,
• Broader temperature range usage, and
• Simplicity in manufacturing, assembly and installation.

The new components will be included in the PF 2100 shipments starting in the fourth quarter.

To learn more about Profire Energy’s products and services, see www.profireenergy.com.

Profire Energy (PFIE) Stock Quote and News:

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