10-K Filing

PROFIRE ENERGY INC CIK: 1289636 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001096906-14-000885`
Period End Date	20140331
Filing Date	20140630
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	pfie-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 55 Cash Flow Statement 48 Stockholders Equity 17

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$808.77K	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.87M	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.88M	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Inventories	`InventoryNet`	$6.58M	USD	Point-in-time
Inventories	`InventoryNet`	$3.46M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$420.98K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$32.26K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.97K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	205,135.00	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	47.84M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	45.25M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$10.15M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$20.36M	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$4.39M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	45.25M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	47.84M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$2.23M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$24.75M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$12.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.46M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$189.49K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$193.73K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesCurrent`	$72.86K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesCurrent`	$107.86K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.61M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$161.55K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.92M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.37M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.92M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.37M	USD	Point-in-time
Preferred shares: $0.001 par value, 10,000,000 shares authorized: no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares: $0.001 par value, 10,000,000 shares authorized: no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common shares: $0.001 par value, 100,000,000 shares authorized: 47,836,543 and 45,250,000 shares issued and outstanding, respectively	`CommonStockValue`	$45.25K	USD	Point-in-time
Common shares: $0.001 par value, 100,000,000 shares authorized: 47,836,543 and 45,250,000 shares issued and outstanding, respectively	`CommonStockValue`	$47.84K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$585.74K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-231.05K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$371.47K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.07M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$10.46M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$21.38M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$8.63M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$24.75M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$12.39M	USD	Point-in-time

Income Statement 55 line items

Line Item	Tag	Value	Unit	Period
Sales of goods, net	`SalesRevenueGoodsNet`	$33.65M	USD	Annual
Sales of goods, net	`SalesRevenueGoodsNet`	$15.74M	USD	Annual
Sales of services, net	`SalesRevenueServicesNet`	$1.15M	USD	Annual
Sales of services, net	`SalesRevenueServicesNet`	$1.75M	USD	Annual
Total Revenues	`SalesRevenueNet`	$16.89M	USD	Annual
Total Revenues	`SalesRevenueNet`	$35.39M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$7.03M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$14.13M	USD	Annual
Cost of goods sold-services	`CostOfServices`	$1.04M	USD	Annual
Cost of goods sold-services	`CostOfServices`	$1.22M	USD	Annual
Total Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$15.35M	USD	Annual
Total Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$8.08M	USD	Annual
GROSS PROFIT	`GrossProfit`	$8.81M	USD	Annual
GROSS PROFIT	`GrossProfit`	$20.04M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.47M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.48M	USD	Annual
Payroll expenses	`LaborAndRelatedExpense`	$2.66M	USD	Annual
Payroll expenses	`LaborAndRelatedExpense`	$3.92M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$703.27K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$315.05K	USD	Annual
Depreciation expense	`DepreciationNonproduction`	$276.66K	USD	Annual
Depreciation expense	`DepreciationNonproduction`	$195.07K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$11.37M	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$6.65M	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$2.16M	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$8.67M	USD	Annual
Interest expense	`InterestExpense`	$-2.69K	USD	Annual
Permanent impairment of available for sale securities	`PermanentImpairmentOfAvailableForSaleSecurities`	$-8.44K	USD	Annual
Permanent impairment of available for sale securities	`PermanentImpairmentOfAvailableForSaleSecurities`	-	USD	Annual
Gain (loss) on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$2.87K	USD	Annual
Gain (loss) on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-13.94K	USD	Annual
Rental income	`RentalIncomeNonoperating`	$629.00	USD	Annual
Rental income	`RentalIncomeNonoperating`	$3.99K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$5.86K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$25.94K	USD	Annual
Total Other Income (Expense)	`OtherOperatingIncomeExpenseNet`	$4.20K	USD	Annual
Total Other Income (Expense)	`OtherOperatingIncomeExpenseNet`	$10.03K	USD	Annual
NET INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.68M	USD	Annual
NET INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.16M	USD	Annual
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$3.07M	USD	Annual
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$730.90K	USD	Annual
NET INCOME	`NetIncomeLoss`	$1.43M	USD	Annual
NET INCOME	`NetIncomeLoss`	$5.61M	USD	Annual
FOREIGN CURRENCY TRANSLATION ADJUSTMENT	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-602.52K	USD	Annual
FOREIGN CURRENCY TRANSLATION ADJUSTMENT	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-121.66K	USD	Annual
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$1.32M	USD	Annual
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$5.00M	USD	Annual
BASIC EARNINGS PER SHARE	`EarningsPerShareBasic`	$0.03	USD	Annual
BASIC EARNINGS PER SHARE	`EarningsPerShareBasic`	$0.12	USD	Annual
FULLY DILUTED EARNINGS PER SHARE	`EarningsPerShareDiluted`	$0.12	USD	Annual
FULLY DILUTED EARNINGS PER SHARE	`EarningsPerShareDiluted`	$0.03	USD	Annual
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	45.11M	shares	Annual
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	46.23M	shares	Annual
FULLY DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfDilutedSharesOutstanding`	45.37M	shares	Annual
FULLY DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfDilutedSharesOutstanding`	46.82M	shares	Annual

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$1.43M	USD	Annual
Net Income	`NetIncomeLoss`	$5.61M	USD	Annual
Depreciation expense	`Depreciation`	$-243.84K	USD	Annual
Depreciation expense	`Depreciation`	$-359.31K	USD	Annual
Loss on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.87K	USD	Annual
Loss on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$13.94K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-69.97K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$605.00	USD	Annual
Stock issued for services	`CommonStockIssuedForServices`	$-28.36K	USD	Annual
Stock issued for services	`CommonStockIssuedForServices`	$-345.45K	USD	Annual
Stock options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$-166.19K	USD	Annual
Stock options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$-1.43M	USD	Annual
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.49M	USD	Annual
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.26M	USD	Annual
Changes in deferred tax asset	`IncreaseDecreaseInDeferredTaxAsset`	$-12.57K	USD	Annual
Changes in deferred tax asset	`IncreaseDecreaseInDeferredTaxAsset`	$420.98K	USD	Annual
Changes in inventories	`IncreaseDecreaseInInventories`	$-3.25M	USD	Annual
Changes in inventories	`IncreaseDecreaseInInventories`	$-1.53M	USD	Annual
Changes in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-30.30K	USD	Annual
Changes in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$8.22K	USD	Annual
Changes in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-736.34K	USD	Annual
Changes in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-77.78K	USD	Annual
Changes in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.49M	USD	Annual
Changes in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$377.00K	USD	Annual
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$2.03M	USD	Annual
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-370.59K	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$13.77K	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$33.91K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$550.62K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.66M	USD	Annual
Net Cash Provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.63M	USD	Annual
Net Cash Provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-536.85K	USD	Annual
Stock issued	`StockIssued1`	$-118.51K	USD	Annual
Stock issued in exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.33M	USD	Annual
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$4.45M	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-205.47K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-198.66K	USD	Annual
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.11M	USD	Annual
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.65M	USD	Annual
CASH AT BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$808.77K	USD	Point-in-time
CASH AT BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$4.46M	USD	Point-in-time
CASH AT BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	USD	Point-in-time
CASH AT END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$808.77K	USD	Point-in-time
CASH AT END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$4.46M	USD	Point-in-time
CASH AT END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$1.91M	USD	Point-in-time
Interest	`InterestPaid`	$2.69K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$1.59M	USD	Annual
Income taxes	`IncomeTaxesPaid`	$294.62K	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$10.46M	USD	Point-in-time
Balance	`StockholdersEquity`	$21.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.63M	USD	Point-in-time
Fair value of options vested	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	$166.19K	USD	Annual
Fair value of options vested	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	$1.43M	USD	Annual
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$345.45K	USD	Annual
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$28.36K	USD	Annual
Exercised options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$118.51K	USD	Annual
Stock issuance	`StockIssuance`	$4.33M	USD	Annual
Reclassification for net loss included in net income	`ReclassificationForNetLossIncludedInNetIncome`	$8.44K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-602.52K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-121.66K	USD	Annual
Net Income	`NetIncomeLoss`	$1.43M	USD	Annual
Net Income	`NetIncomeLoss`	$5.61M	USD	Annual
Balance	`StockholdersEquity`	$10.46M	USD	Point-in-time
Balance	`StockholdersEquity`	$21.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.63M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.