Profire Energy, Inc. is a leading provider of burner management systems, servicing oil and gas producers around the world. The Company manufactures, installs and services oilfield combustion management systems and related burner products which aid oil and natural gas producers in the safe and efficient development and transportation of carbon-based fuels. In the forefront of the industry’s research and development for a decade, Profire’s lead products, the Profire 2100 and the Profire 1100, provide reliable management and ignition of combustion burners and associated vessels, such as separators, dehydrators, line heaters, and incinerators, that oil and gas producers rely on to run reliable and efficient operations.
Expanding Growth in US and Canada
With sales in Canada, the United States, France, Brazil, and many other countries, Profire reported an increase of 34 percent in net income for Fiscal Year ended March 31, 2011 - growth which continued to increase into Q1 of FY2012 ended June 30, 2011. Executing its long-term strategic plan, the Company is expanding its presence in the United States with additional facilities and staff in Lindon, Utah. Spurred by accelerated energy development in Canada, Profire has also acquired additional space in Spruce Grove, Alberta, Canada.
Product Development
For many years, the Profire 1100 BMS has been an industry leader providing oil and gas facilities with increased stability, greater redundancy and enhanced usability, making it the market-leading burner management system. In 2011, the Company introduced The Profire 2100, designed specifically for corporations with natural draft heating needs. Its exceptionally low draw of power saves thousands on more substantial power supply systems and allows for greater autonomy on remote sites. The success of the new system is evidenced by the Company’s rapidly increasing sales and income.
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Investment Considerations
- Strong Financial Position- Revenues have grown between 25% and 30% annually; Revenue for the year ended March 31, 2011 was $8.03 million, a 35.8% increase from the prior year. EPS climbed 33% to $0.04 in fiscal 2011; gross margins are at 63% and are expected to continue growth pattern; The company has NO debt!
- Technology Expertise- Profire’s first product, the Profire 1100, incorporated a unique control panel for the management of burners making it the leading BMS system on the market. The Profire 2100 incorporates next generation technologies and is driving even greater operating efficiency for gas and oil producers.
- Newly Launched Product- The Profire 2100 Burner Management System exceeds industry standards and delivers the most robust BMS system on the market to specifically meet the rigorous demands and expectations of oil and gas producers.
- Aggressive Expansion Plans- Expanding domestically by aligning the Company with multiple distributors across the U.S.; Profire is already penetrating international markets with sales in Canada, France, Brazil, and many other countries.
- Committed Research & Development- Profire Energy has been at the forefront of research and development in the burner management market for nearly a decade and continues to deliver the needed technology and software to support the continued growth of the oil and gas industries.
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Brenton W. Hatch – Chief Executive Officer
Brenton co-founded Profire Combustion, Inc. in 2002. Since that time he has served as the CEO and General Manager of the Company. He has been responsible for the day-to-day operations of Profire Combustion since its inception. Prior to founding Profire Combustion, between 2001 and 2002 he was a Management Consultant and General Manager of Titan Technologies, Inc., an oilfield service and distribution company in Edmonton, Alberta, Canada. In this position, he performed an in-depth analysis of the operations and management of all divisions of Titan Technologies. Based on his analysis, company-wide operational changes were implemented to improve company performance.
Harold Albert – Chief Operating Officer
Harold co-founded Profire Combustion, Inc. in 2002. He has served as the President and Chief Operating Officer of Profire Combustion since that time. Harold is responsible for research and development of new products and services. He oversees our Canadian operations. Prior to founding Profire Combustion, he worked in the oil services industry for Titan Technologies, Inc. from 1996 to 2002. During that time he served as an Associate Manager overseeing the company’s burner division.
Andrew Limpert – Chief Financial Officer
Andrew graduated from the University of Utah with a Bachelors of Science degree in Finance in 1994. He earned a Masters of Business Administration with an emphasis in Finance from Westminster College in 1998. From 1998 to 2008, Andrew was with Belsen Getty, LLC, providing wealth management direction and strategic and financial advice for several investment banks. For the past 15 years he has founded, consulted on and funded numerous businesses in the private and public arenas.
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Forward-Looking Statements: Any statements set forth above that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations and involve certain risks and uncertainties. Forward looking statements include statements herein with respect to the successful development and growth of the Company’s business in the U.S. and abroad, about which no assurances can be given. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in the Company's filings with the Securities and Exchange Commission. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control. This Fact Sheet of Profire Energy, Inc. was developed by the Company, is intended solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy the Company’s stock. This Fact Sheet is based upon information available to the public, as well as information from other sources which management believes to be reliable but is not guaranteed by Profire Energy, Inc. as being accurate nor does it purport to be complete. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.
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