Profire Energy, Inc. (NASDAQ:PFIE) Q1 2020 Earnings Conference Call - Final Transcript

May 07, 2020 • 01:00 pm ET


Profire Energy, Inc. (NASDAQ:PFIE) Q1 2020 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 First Quarter 2020 Ended March 31, 2020. 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 may be 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 modification of the company's cost structure, increasing in operating expenses, expansion in international markets, product development, completing the 3,100 product installations that have been delayed, the availability of company's resources to make beneficial investments in 2020 and beyond and the company's exploration of M&A opportunities, the potential of international markets 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 any undue reliance on these forward-looking statements.

I would like to remind everyone that this call is being recorded and will be available for replay through May 21, 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 for questions. As part of the question-and-answer session, Mr. Hatch and Mr. Oviatt will be joined by Profire's Chief Business Development Officer, Cameron Tidball; and Profire Energy's Vice President of Operations, Jay Fugal; and Vice President of Product Development, Patrick Fisher.\

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

Brenton Hatch

Thank you, and welcome, everyone, to our first quarter 2020 earnings call. First, I hope that you and your loved ones are staying safe during the COVID-19 pandemic, and we wish you continued good health. Like all of you, we've spent the past 2 months adjusting our business and home lives due to the outbreak of COVID-19.

I'd like to start today's call with an update on the steps that Profire has taken internally and how we have adjusted our interactions with our