Profire Energy, Inc. Announces Preliminary Revenue for Third Quarter 2022
October 10, 2022 at 09:00 am
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Profire Energy, Inc. announced, after a preliminary review of its third quarter 2022 results, revenue is estimated to be between $12.5 million and $12.7 million, compared to $9.6 million in the second quarter of 2022. Revenue related to the company's diversification efforts is expected to double on a sequential quarterly basis to approximately $1 million, or roughly 8% of revenue. These revenue estimates, and the finalization of net income, EBITDA, and other financial data for the third quarter of 2022, are subject to completion of the company's quarterly close and review procedures which are still on going.
Profire Energy, Inc. is a technology company. The Company is focused on the upstream, midstream, and downstream transmission segments of the oil and gas industry. It specializes in the engineering and design of burner and combustion management systems and solutions. The Companyâs applications include combustors, enclosed flares, gas production units, treaters, glycol and amine reboiler, indirect line heaters, heated tanks, and process heaters that require heat as part of its production and or processing functions. Its burner-management systems ignite, monitor, and manage pilot and burner systems that are utilized in its process. Its technology enables remote operation, reducing the need for employee interaction with the appliance's burner for purposes, such as re-ignition or temperature monitoring. The Company's systems and solutions are used by exploration and production companies (E&P), midstream operators, pipeline operators, as well as downstream transmission and utility providers.
PROFIRE ENERGY, INC. 
