10-Q Filing

PROFIRE ENERGY INC CIK: 1289636 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001096906-14-001131`
Period End Date	20140630
Filing Date	20140814
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	pfie-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 52 Cash Flow Statement 44

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`	$4.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.79M	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$808.77K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.57M	USD	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`	$12.04M	USD	Point-in-time
Inventories	`InventoryNet`	$6.86M	USD	Point-in-time
Inventories	`InventoryNet`	$6.58M	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	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
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$500.19K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$420.98K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$55.80K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$32.26K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$20.36M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$24.02M	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	48.02M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	47.84M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$5.40M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	48.02M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$4.39M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	47.84M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$24.75M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$29.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.89M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$193.73K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$212.07K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesCurrent`	$107.86K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesCurrent`	$99.11K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.89M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.61M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.37M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.09M	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: 48,024,543 and 47,836,543 shares issued and outstanding, respectively	`CommonStockValue`	$48.02K	USD	Point-in-time
Common shares: $0.001 par value, 100,000,000 shares authorized: 48,024,543 and 47,836,543 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`	$6.93M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$65.39K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-231.05K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$17.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.07M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$21.38M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$24.33M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$24.75M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$29.42M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Sales of goods, net	`SalesRevenueGoodsNet`	$12.32M	USD	1 Quarter
Sales of goods, net	`SalesRevenueGoodsNet`	$6.84M	USD	1 Quarter
Sales of services, net	`SalesRevenueServicesNet`	$342.62K	USD	1 Quarter
Sales of services, net	`SalesRevenueServicesNet`	$828.32K	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$13.14M	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$7.18M	USD	1 Quarter
Cost of goods sold-product	`CostOfGoodsSold`	$5.03M	USD	1 Quarter
Cost of goods sold-product	`CostOfGoodsSold`	$2.72M	USD	1 Quarter
Cost of goods sold-services	`CostOfServices`	$268.20K	USD	1 Quarter
Cost of goods sold-services	`CostOfServices`	$640.11K	USD	1 Quarter
Total Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$2.99M	USD	1 Quarter
Total Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$5.67M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$7.48M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$4.19M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.36M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$839.12K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$271.23K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$95.93K	USD	1 Quarter
Payroll expenses	`LaborAndRelatedExpense`	$835.08K	USD	1 Quarter
Payroll expenses	`LaborAndRelatedExpense`	$1.27M	USD	1 Quarter
Depreciation expense	`DepreciationNonproduction`	$61.33K	USD	1 Quarter
Depreciation expense	`DepreciationNonproduction`	$124.72K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.83M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$4.02M	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$3.46M	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$2.36M	USD	1 Quarter
Interest expense	`InterestExpense`	$-10.47K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$3.12K	USD	1 Quarter
Rental income	`RentalIncomeNonoperating`	$615.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$801.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$237.00	USD	1 Quarter
Total Other Income (Expense)	`OtherOperatingIncomeExpenseNet`	$-9.05K	USD	1 Quarter
Total Other Income (Expense)	`OtherOperatingIncomeExpenseNet`	$3.36K	USD	1 Quarter
NET INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.46M	USD	1 Quarter
NET INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.35M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$734.41K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$1.15M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$2.32M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$1.61M	USD	1 Quarter
FOREIGN CURRENCY TRANSLATION GAIN (LOSS)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$296.44K	USD	1 Quarter
FOREIGN CURRENCY TRANSLATION GAIN (LOSS)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-110.03K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$1.50M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$2.61M	USD	1 Quarter
BASIC EARNINGS PER SHARE	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
BASIC EARNINGS PER SHARE	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
FULLY DILUTED EARNINGS PER SHARE	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
FULLY DILUTED EARNINGS PER SHARE	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	45.25M	shares	1 Quarter
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	47.92M	shares	1 Quarter
FULLY DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfDilutedSharesOutstanding`	45.73M	shares	1 Quarter
FULLY DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.58M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net Income	`ProfitLoss`	$2.22M	USD	1 Quarter
Net Income	`ProfitLoss`	$1.61M	USD	1 Quarter
Depreciation expense	`Depreciation`	$-81.77K	USD	1 Quarter
Depreciation expense	`Depreciation`	$-182.39K	USD	1 Quarter
Stock options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$-351.36K	USD	1 Quarter
Stock options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$-63.43K	USD	1 Quarter
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.07M	USD	1 Quarter
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-170.64K	USD	1 Quarter
Changes in inventories	`IncreaseDecreaseInInventories`	$-1.11M	USD	1 Quarter
Changes in inventories	`IncreaseDecreaseInInventories`	$-187.67K	USD	1 Quarter
Changes in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-27.07K	USD	1 Quarter
Changes in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-23.46K	USD	1 Quarter
Changes in deferred tax asset	`IncreaseDecreaseInDeferredTaxAsset`	-	USD	1 Quarter
Changes in deferred tax asset	`IncreaseDecreaseInDeferredTaxAsset`	$79.21K	USD	1 Quarter
Changes in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-428.36K	USD	1 Quarter
Changes in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$104.70K	USD	1 Quarter
Changes in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-612.27K	USD	1 Quarter
Changes in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.25M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$1.07M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$958.60K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.15K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.15M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.15M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.15K	USD	1 Quarter
Stock issued in exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Stock issued in exercise of stock options	`ProceedsFromStockOptionsExercised`	$78.87K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$78.87K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$56.93K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$113.92K	USD	1 Quarter
NET INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$113.41K	USD	1 Quarter
NET INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$982.38K	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.46M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.79M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$808.77K	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.57M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.46M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.79M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$808.77K	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.57M	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	$10.47K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$-138.01K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$114.76K	USD	1 Quarter

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