Profire Energy to Release FY2013 Financial Estimates and FY2014 Financial
Forecasts on May 6, 2013
"Financial Outlook" to Include Revenue and Net Income Figures, to be Posted on
LINDON, Utah, May 2, 2013 (GLOBE NEWSWIRE) -- Profire Energy, Inc.
(OTCBB:PFIE), a technology company which manufactures, installs and services
burner management systems and other combustion management technologies for the
oil and gas industry, today announced that it will release revenue and net
income estimates for its 2013 fiscal year, as well as revenue and net income
forecasts for its 2014 fiscal year, which will be available on
www.ProfireEnergy.com on May 6, 2013.
"We are pleased to announce that for the first time, we will be releasing a
financial outlook for followers of the company. This year's outlook—which we
plan to release on May 6—will include our revenue and net income estimates for
FY2013, and also forecasts for FY2014," said Andrew Limpert, chief financial
officer of Profire. "By releasing these numbers, we hope to provide insight
into 2014 for our shareholders."
The company emphasized that ongoing guidance will not be provided during the
year, but hopes the new financial benchmarks can be used to measure company
performance during the year.
"These estimates and forecasts are really about transparency and
expectations," said Nate McBride, Finance and Communications at Profire. "To
the degree possible, we want to help our shareholders see what we see, and not
just after a financial period is over. To that end, we anticipate that these
forecasts will—in some way—help communicate our current expectations for the
upcoming fiscal year."
The forecasts are expected to include:
*FY 2013 revenue estimate (unaudited)
*FY 2013 net income estimate (unaudited)
*FY 2014 revenue forecast
*FY 2014 net income forecast
*Illustrations of historical and forecasted financials
About Profire Energy, Inc.
Profire Energy assists energy production companies in the safe and efficient
transportation, refinement and production of oil and natural gas. As energy
companies seek greater safety for their employees, compliance with more
stringent EPA standards and enhanced margins with their energy production
processes, Profire Energy's burner management systems are increasingly
becoming part of their solution. To learn more about the company's products
and services, please visit www.profireenergy.com. Profire Energy has offices
in Lindon, Utah; Houston, Texas; and Edmonton, Alberta, Canada.
Cautionary Note Regarding Forward-Looking Statements. This release contains
"forward-looking" statements, including, but not limited to statements about
the release of estimates and forecasts and the potential benefits of such
information. Financial estimates and forecasts will be based on management's
current expectations regarding future events. By their nature 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 changes in
economic, business and market conditions, competitive factors, changes in
accounting principles, policies and guidelines, legislative changes 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: Profire Energy, Inc.
Andrew Limpert, CFO
Profire Energy, Inc.
Nathan McBride, Finance & Communications
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