We are On Schedule to be the Right Company at the Right Time at the Right Place ... Teens Here We Come !!!
As energy companies seek greater safety for their employees, compliance with more stringent regulatory standards, and enhanced margins with their energy production processes, Profire Energy's burner management systems are increasingly becoming part of their solution. This is accomplised while the company remains debt-free.
We are also on track to complete its Lindon expansion (which has been scheduled for completion in the Fall of 2014), which will add approximately 15,000 square feet for product assembly, inventory and quality control. The warehouse's layout is the result of internal and external analysis and consulting that is expected to greatly enhance the flow and delivery of products, helping ensure a highly efficient and scalable operation. Profire expects to hold a public open house in conjunction with its shareholder meeting on September 18, with more details to follow in coming weeks.
Also, we are on schedule with building our finance, accounting, and communications teams to handle increasing workloads in those areas. Nathan McBride—previously Finance & Communications manager—has been promoted to VP Strategy & Finance, and will assume an enhanced role in developing and executing the Company's growth strategies and resource allocation. Additional staff are being brought in to bolster other areas as well, such as accounting, administration, training, product-management, and multiple others as the Company anticipates continued acceleration in operations.
Don't expect those gains to hold. Stock is short term overbought and headed into resistance at $4.50. I see this stock consolidating back into the mid to high 3's over the next few weeks- then maybe a leg higher with some good news.