Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Comments from two of the top providers of drilling and production services:
"SLB CEO Paal Kibsgaard describes the drop as “fear of short-term oversupply” and says the company is not changing a long-term view that its earnings will almost double from last year’s level by 2017, while Baker Hughes (BHI +4.7%) CEO Martin Craighead says his company's customers don't believe crude prices will stay low."
I'm pretty certain Mr. Hatch, Mr. Albert and Mr. Limpert are thinking the same.
Correction... (August investor presentation)
Good comment.
I'm not too familiar with short language but, in my opinion I think it's pretty risky to short this stock.
The stock has a high beta, so if we see any positive news either with the company or oil prices, I believe the pps will spike up as we’ve seen it do historically. This could put shorts in a bad position when they’re covering at a much higher price than where they borrowed.
In any case, I do not believe oil prices will have a material effect on the company’s performance over the short term. US O&G companies will still have to buy BMS systems in response to Quad O (part of Green Completion Act), regardless of how high/low oil prices go.
Take this quick analysis. In the company’s 2013 10-K, the company reported a total of 82 employees and $35,392,108 in total revenue, an average sales per employee of $431,611. If you were to base your hiring decisions on maintaining a certain G&A percentage per sales, then 120 employees (reported in August inventor presentation) would equate to $51,793,328 in total sales. Obviously, it would take time for this figure to materialize as employees are hired & trained. The company set their total sales projection at $46-$48 million. My projection is $52-$54 million and EPS at $0.16-$0.18.
Given all that, I’m an investor in the company, not a trader. I’ll be here for a long time. I continue to add to my position at these levels.
No question you've got buy at these levels. Even if it goes to $3. Oil prices will turn around. Just a matter of time. You'll be glad you added to your position down here.
It’s the sector. PFIE is an investment, not day/week trading stock. Their financials are "awesome" and the next 3-5 yrs look promising.
Looking nice now....
PFIE!! 52 week low/high of $1.83-$5.89. LONG BUY!!
Updated investor presentation as of 8/25/14... http://profireenergy.com/downloads/Profire%20Investor%20Presentation.pdf
Cash & Cash Equiv = $20.9 mill!!
See comments from July 31st corporate update. Appears they're working on their marketing efforts...
If you plan on being in PFIE for the next 3-5 yrs I don't see why anyone would worry about the day-to-day movement? I would say it's relatively cheap at $4 than where it might be 3 years from now.... If you want to flip stocks go to the OTCBB.
Huh? What do you mean? They're not issuing additional stock...
I'd like to know how their actuator sales are doing...
Wow! Awesome results!! Profire Energy Reports Record Financial Results for Fiscal First Quarter of 2015
Thu August 14, 2014 9:05 AM|GlobeNewswire | About: PFIE
LINDON, Utah, Aug. 14, 2014 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (PFIE), a technology company which creates, installs and services burner management systems and other combustion technologies for the oil and gas industry, reported financial results for its fiscal first quarter ended June 30, 2014.
Fiscal Q1 2015 Highlights vs. Same Year-ago Quarter
Total revenues increased 83% to record $13.1 million.
Net income increased 38% to $2.2 million or $0.05 per share.
Extended product line with launch of proprietary valve-actuator.
Opened new service center in Victoria, Texas, and upgraded Pennsylvania satellite office to a service center.
Began testing a service-based, recurring-revenue model.
Expanded sales team, now totaling over 20.
PFIE added to Russell 2000®, Russell 3000®, and Russell Microcap® Indices.
Fiscal Q1 2015 Financial Results
Total revenues in the fiscal first quarter of 2015 increased 83% to a record $13.1 million from $7.2 million in the same year-ago quarter. The increase in revenues was primarily due to improved sales execution, and increased efficacy in a number of growing sales territories, including Texas, Colorado, and Pennsylvania. The increase is in part driven by leveraging new service personnel, as well as the expansion of existing sales and service territories.
Gross profit increased to $7.4 million or 57% of total revenues, compared to $4.2 million or 58% of total revenues in the year-ago quarter.
Total operating expenses increased to $4.0 million or 31% of total revenues from $1.8 million or 26% of total revenues in the same year-ago quarter. The increase in operating expenses was primarily due to expansion and opening of offices throughout the U.S., purchase of equipment for the Company's expanding service team, and hiring of additional personnel, particularly in the Utah, Texas and Pennsylvania officesultimately to support long-term sales growth. The increase in total operating expenses was also driven by increased non-cash stock option expense, as well as increased research and development expense to support the introduction of the Company's next generation burner management systems and other products.
Net income increased 38% to $2.2 million or $0.05 per share, compared to net income of $1.6 million or $0.04 per share in the same year-ago quarter
Cash and cash equivalents totaled $4.5 million at June 30, 2014, as compared to $1.7 in the comparable prior-year period. Subsequent to the fiscal first quarter of 2015, the Company completed an equity raise for gross proceeds of $18.0 million.
Management Commentary
"Our record first quarter reflects the expansion of our sales and service teams in the U.S., along with a new sales office in Pennsylvania and service center in Texas," said Brenton Hatch, Chief Executive Officer of Profire Energy. "Also during the quarter, we began testing a new service program designed to generate recurring revenue, and also expanded our product line with the launch of a proprietary valve-actuator.
"The test program intends to offer a compelling value to the oil and gas service industry by regularly deploying our service teams throughout the year to help ensure our customers' burners are operating optimally when using our latest burner management technology. The program includes calculating customer-specific savings derived from the use of Profire's products and services, to help illustrate Profire's value to the customer. We are already beginning to experience increasing service revenues as a result of leveraging new service personnel and expansion of new service territories, such as in Utah, Texas, and Pennsylvania, and hope to couple that expanding team with a growing line of service-products in the coming months."
Andrew Limpert, the Company's Chief Financial Officer, spoke to the general success of BMS in the industry:
"In many markets we are continuing to see growing adoption of burner management systems, primarily driven by their unique capability to make oil and gas production safer, more efficient, and more compliant with changing industry regulations," said Limpert. "While Canada has had BMS-related regulation for years, the U.S. is just beginning to catch up. In fact, we are experiencing strong growth and expansion in Colorado with the state's recently passed mandate for the use of 'auto igniters.' With the industry growth in the U.S.recently demonstrated by becoming not only the world's leading producer of gas, but also the leading producer of oilwe are confident in our market opportunities in coming years.
"Our systems not only auto-ignite, but also manage oilfield flames, providing temperature regulation and remote-monitoring capabilities. We also provide other combustion-related solutions to address challenging industry problems, as demonstrated by the recent introduction of our flare-stack igniter. By offering a portfolio of related, complementary productswith an experienced, strong service team behind themwe can more comprehensively understand and meet the industry's needs. Our investment inand management forlong-term stakeholder value creation will continue to be our key focus as an industry leader.
"As we look forward to the rest of the fiscal year, we plan to continue expanding our marketing, sales and service teams. The completed expansion of our Lindon, Utah warehouse in the fall will add increased efficiency and scalability to the delivery of our products. Supported by the growing industry demand for burner management systems, we expect these efforts to lead to another year of significant top- and bottom-line growth."
Fiscal 2015 Outlook
As previously reported, Profire Energy currently expects fiscal 2015 total revenues to range between $46 million and $48 million, which represents an increase of 30% to 36% from the prior year. The Company also expects net income to range between $7 million and $9 million, which represents an increase of 25% to 61% from the prior year.
I believe this is related to the first offering they had at the beginning of the year. This is not a new offering.
You may want to contact Nate to confirm.
possibly.... never know.
Guess we'll see Q1 before or after the bell tomorrow. Looking forward to it.
NEWS: Profire Unveils New Flare-Stack Igniter Product
Tue August 12, 2014 9:10 AM|GlobeNewswire | About: PFIE
LINDON, Utah, Aug. 12, 2014 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (PFIE), a technology company which manufactures, installs and services burner management systems and other combustion technologies for the oil and gas industry, has unveiled a new product for use in oilfield flare stack environments, the Flare Stack Igniter (FSI). Flare stacks are used throughout the industry to burn off unwanted natural gas.
Profire currently resells various burners and pilots that are often used with the Company's burner management system (BMS); however, the Company has not historically offered a pilot specifically for flare-stack environments.
"Flare stacks are historically very challenging for producers to manage," said Stephen Pitcher, a career rocket- and aerospace-scientist who was lead engineer on the project. "Although the flare stacks are often installed in extremely harsh environments, they are also a subject of regulatory scrutiny, as their pilots are often expected to maintain constant flamea significant challenge for much of the industry. Our FSI offers a reliable, powerful solution to help finally solve this industry problem."
By extending Profire's product-line with the FSI, the Company can now offer a proprietary pilot for flare stack environments. The Company also sells flare ignition systems designed specifically for such environments, such as the Company's PF2100F or PF1300 Flare Ignition Systems. The price-point and costs of the FSI are expected to help enhance the Company's product-margin.
"The launch of the FSI further demonstrates our responsiveness to the industry's needs," said Harold Albert, Chief Operating Officer of Profire. "Much of the industry is using flare-stack igniters that struggle to stay operational in intense flare environments. Our FSI has been designed to perform exceptionally in these environments. Its orifice size, core assembly, composition, reliable flame-sensing, and ease-of-installation all combine to make it a robust, powerful igniter for the industry."
The Company has installed dozens of systems for testing throughout North America, in various environments, with no incidents of product-failure. Real-world and simulated tests of harsh weather environments including torrential rain tests, and wind tests of nearly 200 MPHwere also performed, with the FSI maintaining a constant flame throughout testing.
Systems are available immediately for purchase, by contacting a Profire sales representative. To learn more about Profire Energy, please visit www.ProfireEnergy.com.
Looks like $3.85- $4.05 is the new support level.
I'm not too concerned about the inside selling on the private placement. They sold a very small fraction of what they own. They're just cashing out a little. If they had dumped they're shares on the open market then that would be a major concern.
I don't expect us to see a PR prior to the green shoe expiring. This is set to expire on August 18th.
Its at 4, not 3.50.
We should have a nice ride in 2015-2016.
They're probably presenting right now. Just hasn't been posted to YouTube.
The article is incorrect. It should be June 1st instead of July 1st.
Hmmm... not sure I agree. It's possible for Q2 if you factor in the shares they just issued.
Thinking this might drop in the morning (assuming no PR). We didn't see any intra-day buying towards the close like we have been seeing.
Day traders are loving this thing. Up 6% in pre-market. I wanted to grab some more shares when it hit $4.10 but my money transfer didn't hit my account until yesterday.... sucks.
Thinking it might settle between $4- $4.15 for a while.
Unless Q1 results blow away expectations.
Shoot, after that PP they should have probably have around $20 mill in cash on hand. Hopefully they have a blueprint on putting it to work.
The P/E is starting to look a little more reasonable.
Buying more when it gets to $4- $4.15
Great year for PFIE. I noticed one of the bullets on the PR was, "Partnered with Prior Industries Australia PTY LTD, raising number of company's international distributors to three". However, looking through the 10-K they did not have any sells outside of Canada or the US.
Looking forward to the 10-K Monday. I believe they usually release results before the bell. I'm thinking revenue of $35 mill.
They're offering at $4 dollars so the market is pushing it to $4. There's going to be a little bit of dilution on 6 mill shares but not much. I agree with the offering. You have to look at the $16 mill from the offering as long term investment in EPS that will offset the dilution.
You have to discount the offering in order for investors to buy. Otherwise, they would just buy on the open market at the current PPS.
So based on their net income guidance for next year, factoring in the additional 6 mill shares, we're looking at EPS of approx $0.15 for FY2015 (assuming they don't revise their guidance).
$8 mill net income/ 52,541,563 O/S = $.01523 EPS
Looks like they upped the private placement to $30 million. That a lot of cash to sit on. Hopefully they have a blue print on how they'll be spending it.
Supreme Court Ruling Backs Most EPA Emission Controls
http://online.wsj.com/articles/supreme-court-reins-in-some-of-epas-greenhouse-gas-efforts-1403534416
Wow! Did you see they just up'd the offering amount to $26 million (net of fees)?? Originally they planned on raising $15 mill.
http://www.sec.gov/Archives/edgar/data/1289636/000109690614000807/profire.htm
This was kinda expected...
OTC Short Report says there have been no shares shorted in PFIE. Hard to believe and I'm not sure how accurate this report is.
http://otcshortreport.com/index.php?index=PFIE&action=view#.U5nnBHJdW4I
If this is accurate then the only reason I see for the volume and run up is institutional and/or insider buying.