Investorideas.com energy stocks newswire

Wednesday, February 15, 2012

Oil and Gas Services Stock, Profire Energy ( OTCBB:PFIE), Reports Record Revenue of $5,068,983 for Third Fiscal Quarter

Oil and Gas Services Stock, Profire Energy ( OTCBB:PFIE), Reports Record Revenue of $5,068,983 for Third Fiscal Quarter

Company Reports Nine Month Revenue Increase of 119%

LINDON, UT and EDMONTON, AB--(Investorideas.com Energy Newswire )- Oil and Gas News -Profire Energy, Inc. (OTC.BB: 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. (OTC.BB: PFIE)
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.

Cautionary Note Regarding Forward-Looking Statements

This release contains "forward-looking" statements regarding our operations, growth of the Company, our investments to expand our capacity, to add value to our products and to develop and sale our technologies. 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 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. Readers should not place undue reliance on these forward-looking statements.

Contact:
.
For inquiries please contact
Andrew Limpert
(801) 796-5127
E-mail: Email Contact

Published at Investorideas.com Energy Newswire

Sign up for the free investor news letter and get stock alerts in leading sectors! http://www.investorideas.com/Resources/Newsletter.asp


About InvestorIdeas.com:
InvestorIdeas.com is a leader in investor stock research by sector. Sectors we cover include; cleantech and renewable energy stocks, biotech stocks, mining and gold stocks, energy stocks, water, tech, defense stocks, nanotech, agriculture and gaming.
Follow Investorideas.com on Twitter http://twitter.com/#!/Investorideas
Follow Investorideas.com on Facebook   http://www.facebook.com/Investorideas

Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. www.InvestorIdeas.com/About/Disclaimer.asp
Disclosure: Investorideas.com was compensated 1500 to distribute and publish this press release in email and online at Investorideas.com and its syndicated blogs and news sites.
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894