Profire Energy, Inc. (OTCBB: PFIE) reported net income before income taxes for the quarter ending December 31, 2011 of $1,245,322 on total revenues of $5,068,983. By comparison, during the Company’s prior-year third fiscal quarter, it realized net income before income taxes of $846,878 on total revenues of $2,696,417. Earnings per share for the third fiscal quarter 2012 were $.02. Year-over-year revenue and net income growth were 88% and 44%, respectively.
Total revenue for the nine-month period ended December 31, 2011 was $12,275,228 compared to $5,605,063 for the comparable prior year period, a 119% increase. For the same period, net income before income taxes totaled $3,960,607 compared to $1,604,175, a 147% increase. On a per share basis the Company earned $.06 for the nine-month period December 31, 2011, a 200% increase over the nine month period ended December 31, 2010.
“Revenue results for the quarter represent the best ever for the Company. We attribute this to the expansion of our market in the United States, the growth of our sales team and the increase in general activity in energy throughout North America. We have invested heavily in personnel and facilities to accommodate this growth and will continue to do so as we seek to add value through the development and sale of our technologies,” stated Andrew Limpert, CFO of Profire Energy, Inc.
About Profire Energy, Inc.
Profire Energy, Inc. is a leading manufacturer and installer of oilfield combustion management systems and related burner products. Our products and services assist energy production companies in the safe and efficient transportation, refinement and production of oil and natural gas. The Company’s lead products are the Profire 2100 and the Profire 1100, which are burner management systems that oil and gas producers rely on to provide reliable management and ignition of combustion burners and associated vessels such as separators, dehydrators, line heaters, incinerators, etc.
To learn more about Profire Energy’s products and services, please visit www.profireenergy.com. Profire has offices in Lindon, Utah, U.S.A and Edmonton, Alberta, Canada.
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