Profire Energy, Inc. (NASDAQ:PFIE) Q4 2019 Earnings Conference Call - Final Transcript

Mar 12, 2020 • 01:00 pm ET


Profire Energy, Inc. (NASDAQ:PFIE) Q4 2019 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 Fourth Quarter and Fiscal Year 2019 ended December 31, 2019. Joining us today is the CEO of Profire Energy, Brenton Hatch; and CFO of Profire Energy, Ryan Oviatt.

Before we begin today's call, I would like to take a moment to read the Company's safe harbor statement, cautionary note regarding 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 operating expenses, international markets, the availability of Company's resources to make beneficial investments in 2020 and beyond, the successful integration of acquired assets and the Company's future financial performance.

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 risk 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.

I would now like to remind everyone that this call is being recorded and will be available for replay through March 26, 2020, starting later this evening. It will be accessible via the link provided in yesterday's press release as well as the Company's website at

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

I would now like to turn the call over to the Chief Executive Officer of Profire Energy, Mr. Brenton Hatch. Please go ahead.

Brenton W. Hatch

Thank you, and welcome, everyone, to our fourth quarter and full year 2019 earnings call for Profire Energy. I am pleased that the accomplishments we are making internally and our present position, given the current market environment, although this progress has not fully transpired into the financials due to the turmoil in our industry, I want to update you on the things that continue to set Profire apart.

At the end of 2018, we announced our strategic investment plan for 2019 that included focused investments on product development, international expansion and M&A activity. These investments are proving valuable for us as we achieved a number of our strategic