10-Q Filing

PROFIRE ENERGY INC CIK: 1289636 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001096906-16-001813`
Period End Date	20160630
Filing Date	20160810
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	pfie-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 50 Cash Flow Statement 49

Balance Sheet 68 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`	$22.04M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$3.21M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.13M	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventories	`InventoryNet`	$11.05M	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Inventories	`InventoryNet`	$9.97M	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$268.33K	USD	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$474.80K	USD	Point-in-time
Prepaid expenses & other current assets	`PrepaidExpenseCurrent`	$308.26K	USD	Point-in-time
Prepaid expenses & other current assets	`PrepaidExpenseCurrent`	$315.76K	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
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$37.06M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$36.01M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$437.34K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	53.26M	shares	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNet`	$452.43K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	53.32M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$7.97M	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$8.23M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	53.26M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	53.32M	shares	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`	$522.92K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$529.30K	USD	Point-in-time
Total Other Assets	`OtherAssets`	$1.52M	USD	Point-in-time
Total Other Assets	`OtherAssets`	$1.53M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$45.94M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$47.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$551.74K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$893.82K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$620.78K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$427.62K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$335.38K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$979.36K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.85M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesCurrent`	$632.73K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesCurrent`	$632.73K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.61M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.48M	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: 53,316,134 and 53,256,296 shares issued and outstanding, respectively	`CommonStockValue`	$53.26K	USD	Point-in-time
Common shares: $0.001 par value, 100,000,000 shares authorized: 53,316,134 and 53,256,296 shares issued and outstanding, respectively	`CommonStockValue`	$53.32K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.31M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.28M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.28M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.24M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.85M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$44.32M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$44.79M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$45.94M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$47.27M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Sales of goods, net	`SalesRevenueGoodsNet`	$6.21M	USD	1 Quarter
Sales of goods, net	`SalesRevenueGoodsNet`	$3.46M	USD	1 Quarter
Sales of services, net	`SalesRevenueServicesNet`	$511.15K	USD	1 Quarter
Sales of services, net	`SalesRevenueServicesNet`	$665.27K	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$3.97M	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$6.88M	USD	1 Quarter
Cost of goods sold-product	`CostOfGoodsSold`	$2.97M	USD	1 Quarter
Cost of goods sold-product	`CostOfGoodsSold`	$1.71M	USD	1 Quarter
Cost of goods sold-services	`CostOfServices`	$595.54K	USD	1 Quarter
Cost of goods sold-services	`CostOfServices`	$347.15K	USD	1 Quarter
Total Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$3.56M	USD	1 Quarter
Total Cost of Goods Sold	`CostOfGoodsAndServicesSold`	$2.06M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$1.91M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$3.31M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.39M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.44M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$304.49K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$250.72K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationNonproduction`	$107.45K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationNonproduction`	$159.24K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.80M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$3.85M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-881.28K	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-539.30K	USD	1 Quarter
Gain (Loss) on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$18.64K	USD	1 Quarter
Gain (Loss) on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-2.59K	USD	1 Quarter
Other (expense) income	`OtherIncome`	$-108.99K	USD	1 Quarter
Other (expense) income	`OtherIncome`	$4.76K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$21.12K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$27.94K	USD	1 Quarter
Total Other Income (Expense)	`OtherOperatingIncomeExpenseNet`	$30.11K	USD	1 Quarter
Total Other Income (Expense)	`OtherOperatingIncomeExpenseNet`	$-69.23K	USD	1 Quarter
NET INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-851.17K	USD	1 Quarter
NET INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-608.53K	USD	1 Quarter
INCOME TAX EXPENSE (BENEFIT)	`IncomeTaxExpenseBenefit`	$-245.88K	USD	1 Quarter
INCOME TAX EXPENSE (BENEFIT)	`IncomeTaxExpenseBenefit`	$-149.71K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-458.81K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-605.29K	USD	1 Quarter
FOREIGN CURRENCY TRANSLATION GAIN (LOSS)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$773.00	USD	1 Quarter
FOREIGN CURRENCY TRANSLATION GAIN (LOSS)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$333.37K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-125.44K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-604.52K	USD	1 Quarter
BASIC EARNINGS PER SHARE	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
BASIC EARNINGS PER SHARE	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
FULLY DILUTED EARNINGS PER SHARE	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
FULLY DILUTED EARNINGS PER SHARE	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	53.26M	shares	1 Quarter
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	53.21M	shares	1 Quarter
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfDilutedSharesOutstanding`	53.26M	shares	1 Quarter
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfDilutedSharesOutstanding`	53.21M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-458.81K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-605.29K	USD	1 Quarter
Depreciation and amortization expense	`Depreciation`	$-252.91K	USD	1 Quarter
Depreciation and amortization expense	`Depreciation`	$-225.94K	USD	1 Quarter
(Gain) Loss on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$18.64K	USD	1 Quarter
(Gain) Loss on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-2.59K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-104.77K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-151.44K	USD	1 Quarter
Stock options issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-187.41K	USD	1 Quarter
Stock options issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-143.76K	USD	1 Quarter
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$770.43K	USD	1 Quarter
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.40M	USD	1 Quarter
Changes in income taxes receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-541.84K	USD	1 Quarter
Changes in income taxes receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-129.01K	USD	1 Quarter
Changes in inventories	`IncreaseDecreaseInInventories`	$786.33K	USD	1 Quarter
Changes in inventories	`IncreaseDecreaseInInventories`	$1.08M	USD	1 Quarter
Changes in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-18.73K	USD	1 Quarter
Changes in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$7.49K	USD	1 Quarter
Changes in deferred tax asset/liability	`IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability`	$-15.10K	USD	1 Quarter
Changes in deferred tax asset/liability	`IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability`	$33.20K	USD	1 Quarter
Changes in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$181.74K	USD	1 Quarter
Changes in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$535.24K	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$2.87M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$736.68K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$16.90K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$52.50K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.29K	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$16.90K	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$40.22K	USD	1 Quarter
Value of equity awards surrendered by employees for tax liability	`ValueOfEquityAwardsSurrenderedByEmployeesForTaxLiability`	$-23.53K	USD	1 Quarter
Stock issued in exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Stock issued in exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-23.53K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$158.25K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.08K	USD	1 Quarter
NET INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.04M	USD	1 Quarter
NET INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$750.50K	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$22.04M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$17.19M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$22.04M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$17.19M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

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