U.S. markets closed

Profire Energy, Inc. (PFIE)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
0.8999+0.0405 (+4.71%)
At close: 4:00PM EST
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Bullishpattern detected
Commodity Channel Index

Commodity Channel Index

Previous Close0.8594
Open0.8699
Bid0.8101 x 900
Ask0.9299 x 1200
Day's Range0.8699 - 0.9000
52 Week Range0.6250 - 1.5300
Volume67,256
Avg. Volume115,892
Market Cap43.159M
Beta (5Y Monthly)1.36
PE Ratio (TTM)N/A
EPS (TTM)-0.0810
Earnings DateNov 10, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est2.27
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
-22% Est. Return
Research that delivers an independent perspective, consistent methodology and actionable insight
Related Research
View more
  • Profire Energy, Inc.'s (NASDAQ:PFIE) Intrinsic Value Is Potentially 93% Above Its Share Price
    Simply Wall St.

    Profire Energy, Inc.'s (NASDAQ:PFIE) Intrinsic Value Is Potentially 93% Above Its Share Price

    Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Profire Energy, Inc...

  • ACCESSWIRE

    Profire Energy, Inc. to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / November 10, 2020 / Profire Energy, Inc.

  • Profire Energy Reports Financial Results for Third Quarter 2020
    GlobeNewswire

    Profire Energy Reports Financial Results for Third Quarter 2020

    LINDON, Utah, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (NASDAQ: PFIE), a technology company which engineers, install and services burner and combustions management solutions in the oil and gas and other industries, today reported financial results for its third quarter ending September 30, 2020. A conference call will be held on Tuesday, November 10, 2020 at 1:00 p.m. ET to discuss the results. Third Quarter Summary * Recognized revenue of $4.0 million * Realized gross profit of $1.5 million or 38.0% of total revenues * Net loss of $1.1 million or ($0.02) per share * Cash and liquid investments of $17.2 million and remained debt-free“Our early response to the COVID-19 pandemic has resulted in significant reductions in our operating cost structure and lower G&A expense, all while maintaining our debt-free balance sheet,” said Ryan Oviatt, Co-CEO and CFO of Profire Energy.  “These efforts continue to be outweighed by lower demand and global consumption of oil and gas, combined with lower commodity prices due to a supply imbalance in the markets. However, we remain hopeful in our ability to find new and innovative ways to continue to drive long-term shareholder return.”  Third Quarter 2020 Financial ResultsTotal revenues for the period equaled $4.0 million, compared to $4.4 million in the second quarter of 2020, and $9.9 million in the same period a year ago. The third quarter’s results reflect the continued impact of COVID-19 on consumer demand, as well as a 27% drop in the average oil price during the same period, due in part to excess supply in the market from global producers.Gross profit was $1.5 million, compared to $2.1 million in the second quarter of 2020 and $5.2 million in the year-ago quarter. Gross margin was 38.0% of revenues, compared to 47.9% of revenues in the previous quarter and 52.2% of revenues in the third quarter of 2019. The sequential gross margin decline was primarily related to product mix and related reserves, and the significant decline in revenue pushed the fixed cost impact on costs of goods and services above historical levels.Total operating expenses were $2.8 million, compared to $3.2 million in prior quarter and $4.0 million in the same period a year ago. The sequential and year-over-year decrease reflect ongoing cost control measures in response to COVID-19 and the ongoing supply and demand imbalance within the oil markets.Compared with the same quarter last year, operating expenses for G&A decreased 31%, R&D decreased 32% and depreciation increased by 30%.Net loss was $1.1 million or ($0.02) per share, compared to a net loss of $808,503, or ($0.02) in the second quarter of 2020, and net income of $921,748 or $0.02 per diluted share in the same quarter last year.Cash and investments totaled $17.2 million at September 30, 2020 compared to $18.6 million at the end of 2019, and the Company continues to operate debt-free.  Capital expenditures for the quarter were $152,000.  Working capital as of September 30, 2020 was $22.5 million, compared to $22.9 million at the end of 2019.“We remain highly focused on building our sales funnel, maintaining and strengthening our customer relationships, and most important, research and development in order to maintain our leading brand awareness and market share,” said Cameron Tidball, Co-CEO of Profire Energy. “We are assessing and analyzing the vast market and opportunity for combustion solutions that reside outside of our traditional market wherein we can leverage our world class burner management systems to serve a more diverse customer base.” Conference CallProfire Energy executives will host the call, followed by a question and answer period.Date: Tuesday, November 10, 2020 Time: 1:00 p.m. ET (11:00 a.m. MT) Toll-free dial-in number: 1-877-705-6003 International dial-in number:   1-201-493-6725The conference call will be webcast live and available for replay via this link: http://public.viavid.com/index.php?id=142279  The webcast replay will be available for one year.Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting the conference call, please contact Todd Fugal at 1-801-796-5127.A replay of the call will be available via the dial-in numbers below after 4:00 p.m. ET on the same day through November 24, 2020.Toll-free replay number: 1-844-512-2921 International replay number: 1-412-317-6671 Replay Pin: 13712689About Profire Energy, Inc. Profire Energy assists energy production companies in the safe and efficient production and transportation of oil and natural gas. 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 products are continuing to be a key part of their solutions. Profire Energy has offices in Lindon, Utah; Victoria, Texas; Homer, Pennsylvania; Greeley, Colorado; Millersburg, Ohio; and Acheson, Alberta, Canada. For additional information, visit www.profireenergy.com.Cautionary Note Regarding Forward-Looking Statements. Statements made in this release that are not historical are forward-looking statements. This release contains forward-looking statements, including, but not limited to statements regarding the Company’s plans to assess opportunities outside of traditional markets. 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 certain economic, business, public market and regulatory risks and factors identified in the company's periodic reports filed with the Securities and 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, except as required by law. Readers should not place undue reliance on these forward-looking statements.Contact: Profire Energy, Inc. Ryan Oviatt, CFO (801) 796-5127Three Part Advisors Steven Hooser, Partner 214-872-2710PROFIRE ENERGY, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets   As of   September 30, 2020 December 31, 2019 ASSETS (Unaudited)   CURRENT ASSETS     Cash and cash equivalents $7,919,545  $7,358,856  Short-term investments 2,239,256  1,222,053  Short-term investments - other 600,000  2,600,000  Accounts receivable, net 2,397,985  5,597,701  Inventories, net (note 3) 8,780,571  9,571,807  Prepaid expenses and other current assets (note 4) 2,178,682  1,672,422  Income tax receivable 465,828  77,385  Total Current Assets 24,581,867  28,100,224  LONG-TERM ASSETS     Long-term investments 6,450,891  7,399,963  Financing right-of-use asset 61,347  107,991  Property and equipment, net 11,595,366  12,071,019  Intangible assets, net 1,827,553  1,989,782  Goodwill 2,579,381  2,579,381  Total Long-Term Assets 22,514,538  24,148,136  TOTAL ASSETS $47,096,405  $52,248,360        LIABILITIES AND STOCKHOLDERS' EQUITY     CURRENT LIABILITIES     Accounts payable $980,601  $2,633,520  Accrued liabilities (note 5) 1,061,515  2,089,391  Current financing lease liability (note 6) 43,024  59,376  Income taxes payable —  403,092  Total Current Liabilities 2,085,140  5,185,379  LONG-TERM LIABILITIES     Net deferred income tax liability 484,115  439,275  Long-term financing lease liability (note 6) 20,927  52,120  TOTAL LIABILITIES 2,590,182  5,676,774        STOCKHOLDERS' EQUITY (note 7)     Preferred stock: $0.001 par value, 10,000,000 shares authorized:  no shares issued or outstanding —  —  Common stock: $0.001 par value, 100,000,000 shares authorized: 51,371,960 issued and 47,959,582 outstanding at September 30, 2020, and 50,824,355 issued and 47,411,977 outstanding at December 31, 2019 51,371  50,824  Treasury stock, at cost (5,353,019) (5,353,019) Additional paid-in capital 30,208,082  29,584,172  Accumulated other comprehensive loss (2,873,765) (2,415,460) Retained earnings 22,473,554  24,705,069  TOTAL STOCKHOLDERS' EQUITY 44,506,223  46,571,586  TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $47,096,405  $52,248,360  These financial statements should be read in conjunction with the Form 10-Q and accompanying footnotes. PROFIRE ENERGY, INC. AND SUBSIDIARIES      Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)  For the Three Months Ended September 30, For the Nine Months Ended September 30,  2020 2019 2020 2019 REVENUES (note 9)        Sales of goods, net$3,517,280  $9,251,947  $14,377,377  $29,009,837  Sales of services, net482,826  653,814  1,429,350  1,853,013  Total Revenues4,000,106  9,905,761  15,806,727  30,862,850           COST OF SALES        Cost of goods sold-product2,141,888  4,326,335  7,919,959  13,465,989  Cost of goods sold-services337,795  410,130  1,114,804  1,275,655  Total Cost of Goods Sold2,479,683  4,736,465  9,034,763  14,741,644           GROSS PROFIT1,520,423  5,169,296  6,771,964  16,121,206           OPERATING EXPENSES        General and administrative expenses2,247,614  3,256,023  8,273,925  9,984,251  Research and development433,800  641,716  1,073,074  1,503,645  Depreciation and amortization expense168,507  130,105  496,976  357,238  Total Operating Expenses2,849,921  4,027,844  9,843,975  11,845,134           INCOME (LOSS) FROM OPERATIONS(1,329,498) 1,141,452  (3,072,011) 4,276,072           OTHER INCOME (EXPENSE)        Gain on sale of fixed assets36,483  34,826  193,938  73,166  Other expense(48,349) (2,065) (49,667) (3,029) Interest income103,364  38,478  255,289  216,068  Total Other Income91,498  71,239  399,560  286,205           INCOME (LOSS) BEFORE INCOME TAXES(1,238,000) 1,212,691  (2,672,451) 4,562,277           INCOME TAX BENEFIT (EXPENSE)180,252  (290,943) 440,936  (986,407)          NET INCOME (LOSS)$(1,057,748) $921,748  $(2,231,515) $3,575,870           OTHER COMPREHENSIVE INCOME (LOSS)        Foreign currency translation gain (loss)$233,170  $(91,397) $(336,986) $160,453  Unrealized gains (losses) on investments(36,840) (12,386) (121,319) 105,861  Total Other Comprehensive Income (Loss)196,330  (103,783) (458,305) 266,314           COMPREHENSIVE INCOME (LOSS)$(861,418) $817,965  $(2,689,820) $3,842,184           BASIC EARNINGS (LOSS) PER SHARE (note 10)$(0.02) $0.02  $(0.05) $0.08  FULLY DILUTED EARNINGS (LOSS) PER SHARE (note 10)$(0.02) $0.02  $(0.05) $0.07           BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING47,933,318  47,739,192  47,717,114  47,509,357  FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING47,933,318  48,469,246  47,717,114  48,259,900  These financial statements should be read in conjunction with the Form 10-Q and accompanying footnotes.PROFIRE ENERGY, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (Unaudited)  For the Nine Months Ended September 30,  2020 2019 OPERATING ACTIVITIES    Net income (loss)$(2,231,515) $3,575,870  Adjustments to reconcile net income (loss) to net cash provided by operating activities:    Depreciation and amortization expense860,028  732,396  Gain on sale of fixed assets(193,938) (73,166) Bad debt expense182,179  255,943  Stock awards issued for services351,943  358,270  Changes in operating assets and liabilities:    Accounts receivable3,404,439  1,244,104  Income taxes receivable/payable(404,304) (890,523) Inventories714,245  1,711,446  Prepaid expenses43,099  (586,576) Deferred tax asset/liability44,840  219,138  Accounts payable and accrued liabilities(2,648,339) 855,207  Net Cash Provided by Operating Activities122,677  7,402,109       INVESTING ACTIVITIES    Proceeds from sale of equipment16,313  75,310  Sale of investments1,814,070  2,476,227  Purchase of fixed assets(1,146,400) (3,309,191) Payments for acquisitions, net of cash acquired—  (4,322,722) Net Cash Provided by (Used in) Investing Activities683,983  (5,080,376)      FINANCING ACTIVITIES    Value of equity awards surrendered by employees for tax liability(148,879) (185,004) Cash received in exercise of stock options2,020  8,870  Purchase of treasury stock—  (2,249,745) Principal paid towards lease liability(45,965) (53,190) Net Cash Used in Financing Activities(192,824) (2,479,069)      Effect of exchange rate changes on cash(53,147) (468)      NET CHANGE IN CASH560,689  (157,804) CASH AT BEGINNING OF PERIOD7,358,856  10,101,932  CASH AT END OF PERIOD$7,919,545  $9,944,128       SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION         CASH PAID FOR:    Interest$4,946  $4,469  Income taxes$402,510  $1,793,281  NON-CASH FINANCING AND INVESTING ACTIVITIES    Common stock issued in settlement of accrued bonuses$419,373  $379,861  Issuance of common stock - Midflow acquisition$—  $1,020,000  These financial statements should be read in conjunction with the Form 10-Q and accompanying footnotes.