10-K Filing

PROFIRE ENERGY INC CIK: 1289636 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001096906-16-001679`
Period End Date	20160331
Filing Date	20160613
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	pfie-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 50 Cash Flow Statement 51 Stockholders Equity 16

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.46M	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.13M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.46M	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Inventories	`InventoryNet`	$11.77M	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Inventories	`InventoryNet`	$11.05M	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$268.33K	USD	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
Prepaid expenses & other current assets	`PrepaidExpenseCurrent`	$315.76K	USD	Point-in-time
Prepaid expenses & other current assets	`PrepaidExpenseCurrent`	$112.74K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$35.49M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$37.06M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$452.43K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	53.20M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	53.26M	shares	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$501.92K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	53.26M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$9.28M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	53.20M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$8.23M	USD	Point-in-time
Goodwill	`Goodwill`	$997.70K	USD	Point-in-time
Goodwill	`Goodwill`	$997.70K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$594.02K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$529.30K	USD	Point-in-time
Total Other Assets	`OtherAssets`	$1.53M	USD	Point-in-time
Total Other Assets	`OtherAssets`	$1.59M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$46.86M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$47.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$893.82K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$332.23K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$620.78K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$335.38K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$347.49K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.72M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesCurrent`	$632.73K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesCurrent`	$631.35K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.48M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.35M	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: 53,256,296 and 53,199,136 shares issued and outstanding, respectively	`CommonStockValue`	$53.20K	USD	Point-in-time
Common shares: $0.001 par value, 100,000,000 shares authorized: 53,256,296 and 53,199,136 shares issued and outstanding, respectively	`CommonStockValue`	$53.26K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.53M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.89M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.28M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.82M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.85M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$21.38M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$44.50M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$44.79M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$47.27M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$46.86M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Sales of goods, net	`SalesRevenueGoodsNet`	$47.77M	USD	Annual
Sales of goods, net	`SalesRevenueGoodsNet`	$23.99M	USD	Annual
Sales of services, net	`SalesRevenueServicesNet`	$3.41M	USD	Annual
Sales of services, net	`SalesRevenueServicesNet`	$3.08M	USD	Annual
Total Revenues	`SalesRevenueNet`	$27.07M	USD	Annual
Total Revenues	`SalesRevenueNet`	$51.18M	USD	Annual
Cost of goods sold-product	`CostOfGoodsSold`	$21.24M	USD	Annual
Cost of goods sold-product	`CostOfGoodsSold`	$11.03M	USD	Annual
Cost of goods sold-services	`CostOfServices`	$2.72M	USD	Annual
Cost of goods sold-services	`CostOfServices`	$2.41M	USD	Annual
Total Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$13.43M	USD	Annual
Total Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$23.96M	USD	Annual
GROSS PROFIT	`GrossProfit`	$27.22M	USD	Annual
GROSS PROFIT	`GrossProfit`	$13.64M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$16.30M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$12.26M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.83M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$899.01K	USD	Annual
Depreciation and amortization expense	`DepreciationNonproduction`	$516.79K	USD	Annual
Depreciation and amortization expense	`DepreciationNonproduction`	$558.23K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$18.69M	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$13.68M	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$-39.92K	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$8.54M	USD	Annual
Gain on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$20.28K	USD	Annual
Gain on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$8.01K	USD	Annual
Other (expense) income	`OtherIncome`	$144.94K	USD	Annual
Other (expense) income	`OtherIncome`	$21.86K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$37.28K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$26.01K	USD	Annual
Total Other Income (Expense)	`OtherOperatingIncomeExpenseNet`	$202.49K	USD	Annual
Total Other Income (Expense)	`OtherOperatingIncomeExpenseNet`	$55.89K	USD	Annual
NET INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$162.57K	USD	Annual
NET INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.59M	USD	Annual
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$127.83K	USD	Annual
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$2.84M	USD	Annual
NET INCOME	`NetIncomeLoss`	$5.75M	USD	Annual
NET INCOME	`NetIncomeLoss`	$34.74K	USD	Annual
FOREIGN CURRENCY TRANSLATION GAIN (LOSS)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.66M	USD	Annual
FOREIGN CURRENCY TRANSLATION GAIN (LOSS)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-393.70K	USD	Annual
TOTAL COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$4.09M	USD	Annual
TOTAL COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-358.96K	USD	Annual
BASIC EARNINGS PER SHARE	`EarningsPerShareBasic`	$0.11	USD	Annual
BASIC EARNINGS PER SHARE	`EarningsPerShareBasic`	-	USD	Annual
FULLY DILUTED EARNINGS PER SHARE	`EarningsPerShareDiluted`	$0.11	USD	Annual
FULLY DILUTED EARNINGS PER SHARE	`EarningsPerShareDiluted`	-	USD	Annual
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	53.24M	shares	Annual
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	51.61M	shares	Annual
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.68M	shares	Annual
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfDilutedSharesOutstanding`	53.56M	shares	Annual

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$5.75M	USD	Annual
Net Income	`NetIncomeLoss`	$34.74K	USD	Annual
Depreciation and amortization expense	`Depreciation`	$-1.14M	USD	Annual
Depreciation and amortization expense	`Depreciation`	$-989.48K	USD	Annual
Gain on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$20.28K	USD	Annual
Gain on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$8.01K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-143.19K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$7.58K	USD	Annual
Stock options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$-678.97K	USD	Annual
Stock options issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$-1.28M	USD	Annual
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-912.61K	USD	Annual
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.11M	USD	Annual
Changes in income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-268.33K	USD	Annual
Changes in inventories	`IncreaseDecreaseInInventories`	$-5.47M	USD	Annual
Changes in inventories	`IncreaseDecreaseInInventories`	$641.41K	USD	Annual
Changes in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-80.77K	USD	Annual
Changes in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-171.41K	USD	Annual
Changes in deferred tax asset/liability	`IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability`	$80.94K	USD	Annual
Changes in deferred tax asset/liability	`IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability`	$-49.49K	USD	Annual
Changes in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-148.92K	USD	Annual
Changes in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$302.78K	USD	Annual
Changes in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$618.15K	USD	Annual
Changes in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$7.75K	USD	Annual
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$7.33M	USD	Annual
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$685.08K	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$158.64K	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$7.87K	USD	Annual
Cash paid for asset acquisition	`PaymentsToAcquireProductiveAssets`	$750.00K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.17M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$62.47K	USD	Annual
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$96.18K	USD	Annual
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.91M	USD	Annual
Proceeds from stock issued for cash, net of stock offering costs	`StockIssued1`	$-16.42M	USD	Annual
Value of equity awards surrendered by employees for tax liability	`ValueOfEquityAwardsSurrenderedByEmployeesForTaxLiability`	$-39.34K	USD	Annual
Stock issued in exercise of stock options	`ProceedsFromStockOptionsExercised`	$327.96K	USD	Annual
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-39.34K	USD	Annual
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$16.75M	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-241.97K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-839.53K	USD	Annual
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.69M	USD	Annual
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.15M	USD	Annual
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.46M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.46M	USD	Point-in-time
Interest	`InterestPaid`	$17.04K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$3.47M	USD	Annual
Income taxes	`IncomeTaxesPaid`	$127.83K	USD	Annual
Stock issued for asset acquisition	`StockIssuedForAssetAcquisition`	$1.00M	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$21.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.50M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.79M	USD	Point-in-time
Fair value of options vested	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	$565.65K	USD	Annual
Fair value of options vested	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	$1.28M	USD	Annual
Stock issued for asset acquisition	`StockIssuedForAssetAcquisition`	$1.00M	USD	Annual
Exercised options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$73.98K	USD	Annual
Exercised options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$327.96K	USD	Annual
Stock issuance	`StockIssuance`	$16.42M	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.66M	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-393.70K	USD	Annual
NET INCOME	`NetIncomeLoss`	$5.75M	USD	Annual
NET INCOME	`NetIncomeLoss`	$34.74K	USD	Annual
Balance	`StockholdersEquity`	$21.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.50M	USD	Point-in-time
Balance	`StockholdersEquity`	$44.79M	USD	Point-in-time

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