Profire Energy, Inc. (NASDAQ:PFIE) Q4 2018 Earnings Conference Call - Final Transcript

Mar 07, 2019 • 01:00 pm ET


Profire Energy, Inc. (NASDAQ:PFIE) Q4 2018 Earnings Conference Call - Final Transcript


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Good afternoon, everyone, and thank you for participating in today's conference call to discuss Profire Energy's Fiscal 2018 ended December 31, 2018. Joining us today is the President and CEO of Profire Energy, Brenton Hatch; and CFO, Ryan Oviatt.

Before we begin today's call, I'd like to take a moment to read the Company's Safe Harbor statement. Cautionary note regarding safe -- forward-looking statements, statements made during this call that are not historical are forward-looking statements. This call contains forward-looking statements, including, but not limited to, statements regarding the Company's future business development activities, increase in operating expenses, expansion into international markets, maintaining a set of controls, the release of new products, offsetting costs with the sale of assets, the expansion into other markets, the new product certifications that will add significant value to the Company, additional capabilities of existing products, the hiring of additional employees, M&A activity, the potential of international markets, the future financial performance and the Company's ability to deliver products to market faster.

All 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 certain economic, business, public market and regulatory risks and factors identified in the Company's periodic filings 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 this 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.

I would also like to remind everyone that this call is being recorded, and it will be available for replay through March 14, 2019, starting later this evening. It will be accessible via the link provided in yesterday's press release as well as on the Company's website at

Following remarks by Mr. Hatch and Mr. Oviatt, we will open the call to your questions. As a part of the question-and-answer session, Mr. Hatch and Oviatt will be joined by Profire Energy's Chief Business Development Officer, Cameron Tidball; Vice President of Operations, Jay Fugal; and Vice President of Product Development, Patrick Fisher.

Now, I'd like to turn the conference over to the President and Chief Executive Officer of Profire Energy, Mr. Brenton Hatch. Thank you. You may begin.

Brenton W. Hatch

Thank you very much. Welcome, everyone, to Profire Energy's fiscal 2018 earnings conference call. 2018 was a banner year for Profire as we were able to achieve our most profitable year in the Company history. This was as no small feat as the oil industry experienced unforeseen volatility throughout the year. The price per barrel of oil plummeted in Q4