0001289636-18-000030.txt : 20180628 0001289636-18-000030.hdr.sgml : 20180628 20180627174759 ACCESSION NUMBER: 0001289636-18-000030 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20180627 ITEM INFORMATION: Other Events FILED AS OF DATE: 20180628 DATE AS OF CHANGE: 20180627 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROFIRE ENERGY INC CENTRAL INDEX KEY: 0001289636 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] IRS NUMBER: 200019425 STATE OF INCORPORATION: NV FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36378 FILM NUMBER: 18922680 BUSINESS ADDRESS: STREET 1: 321 SOUTH 1250 WEST, SUITE 1 CITY: LINDON STATE: UT ZIP: 84042 BUSINESS PHONE: 801-933-7360 MAIL ADDRESS: STREET 1: 321 SOUTH 1250 WEST, SUITE 1 CITY: LINDON STATE: UT ZIP: 84042 FORMER COMPANY: FORMER CONFORMED NAME: FLOORING ZONE INC DATE OF NAME CHANGE: 20071115 FORMER COMPANY: FORMER CONFORMED NAME: Flooring Zone Inc DATE OF NAME CHANGE: 20040507 8-K 1 a8-kannouncingrevenueupdate.htm 8-K Document

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 27, 2018

 
PROFIRE ENERGY, INC.
(Exact name of registrant as specified in its charter)
 
 
 
 
 
Nevada
 
001-36378
 
20-0019425
(State or other jurisdiction of incorporation)
 
Commission
File Number)
 
(IRS Employer
Identification No.)
 
 
 
 
 
321 South 1250 West, Suite 1, Lindon, Utah
(Address of principal executive offices)
 
84042
(Zip code)
 
801 796-5127
(Registrant’s telephone number, including area code)
 
N/A
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):


1



[   ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
[   ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
[   ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
[   ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revise financial standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Item 8.01.
Other Events
 
On June 27, 2017 Profire Energy, Inc. (the “Company”) issued a press release announcing certain preliminary information regarding its expected revenues for the quarter ending June 30, 2018. A copy of the press release is attached to this Current Report as Exhibit 99.1 and is incorporated by reference into this Item 8.01.



 
Item 9.01.
Financial Statements and Exhibits

(d) Exhibits

Exhibit Number
 
Description
 
 
 
 
Press Release Announcing Preliminary Second Quarter Revenue Estimate








2



SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
  PROFIRE ENERGY, INC.
 
 
 
 
Date: June 27, 2018
By:
/s/ Brenton W. Hatch
 
 
Brenton W. Hatch
 
 
Chief Executive Officer


3

EX-99.1 2 pressreleaseannouncingreve.htm EXHIBIT 99.1 Exhibit


pressreleaseannouncin_image1.jpg

Profire Energy, Inc. Provides Preliminary Second Quarter Revenue Estimate

LINDON, Utah June 27, 2018 - Profire Energy, Inc. (NASDAQ: PFIE), a technology company (the “Company”) which creates, installs and services burner and chemical management solutions in the oil and gas industry, today announced certain preliminary information regarding its expected revenues for the quarter ending June 30, 2018.

The Company anticipates preliminary revenue for the quarter ending June 30, 2018 will be in the range of $11.0 million to $11.2 million, as compared to revenue of $9.4 million for the quarter ended June 30, 2017, which would represent the Company’s second-highest quarterly revenues since December 2014. The Company anticipates operating margins for the quarter ending June 30, 2018 will be consistent with its historical operating margins.

The Company has not finalized its financial statement review process for the quarter ending June 30, 2018. The information in this release is preliminary and based upon the information currently available to the Company. As part of the finalization of the financial statements, items may be identified that would require the Company to make adjustments, which could be material. As a result, the preliminary selected financial information above is forward-looking information and subject to risks and uncertainties, including possible adjustments to the preliminary unaudited financial information.

Management Commentary

“We believe the second quarter is shaping up to be a historically good quarter for the Company, and we continue to see strong demand for our products,” said Ryan Oviatt, Profire’s Chief Financial Officer. “Based on our impressive first quarter revenues of $12.1 million and the expected range of second quarter revenues, we believe the Company is well positioned to build on a strong first half of 2018 to achieve year over year growth in revenue for the remainder of 2018.”

“We believe the Company remains on track to outperform the 2017 fiscal year in 2018,” said Brenton Hatch, the Company’s Chief Executive Officer. “We remain committed to the pillars of our long term growth strategy: 3100 market penetration and expansion, new product development, expansion into the international markets for our products, realization of the CMS product adoption and potential growth through merger and acquisition opportunities that fit our objectives.”


About 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 and chemical injection systems are increasingly becoming part of their solution. Profire Energy has offices in Lindon, Utah; Houston, Texas; Shelocta, Pennsylvania; Greeley, Colorado; and Spruce Grove, 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 expected revenues and operating margins for the quarter ending June 30, 2018 and the Company’s expected results of operations for the year ending December 31, 2018. 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 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) 796-5127

Or

Steven Hooser
Three Part Advisors, LLC 
214-872-2710, shooser@threepa.com 



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