Profire Energy, Inc. (NASDAQ:PFIE) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 01:00 pm ET


Profire Energy, Inc. (NASDAQ:PFIE) Q2 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's Second Quarter 2020 ended June 30, 2020. Joining us today is the Executive Chairman of Profire Energy, Brenton Hatch; Co-CEO and CFO of Profire Energy, Ryan Oviatt; and Co-CEO, Cameron Tidball.

Before we begin today's call, I would like to take a moment to read the Company's safe harbor statement. 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 effects of COVID-19 on the business and industry throughout the remainder of 2020, maintaining sufficient inventory on hand, sales of the PF2200 product, ability to enter alternative markets, expansion in international markets, the planned launch of new product, the Company's exploration of M&A opportunities and Company's future financial performance. All 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 like to remind everyone that this call is being recorded and will be available for replay through August 20, 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, Oviatt and Tidball, we will open the call to your questions. As part of the question-and-answer session, Mr. Hatch, Oviatt and Tidball will be joined by 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 the Executive Chairman of Profire Energy, Mr. Brenton Hatch. Please go ahead.

Brenton Hatch

Thank you, and welcome, everyone, to our second quarter 2020 earnings call. We hope you all continue to remain healthy and safe as the COVID pandemic continues to impact everybody's day-to-day life. As many of you are aware, last month, I announced my transition from CEO to Executive Chairman here at Profire. After co-founding the Company in 2002 and having led the Company for over 18 years, the time has come for me to turn over the reins to two very talented and capable successors, Mr. Cameron Tidball and Mr. Ryan Oviatt. I've worked with these gentlemen for a long