10-Q Filing

PROFIRE ENERGY INC CIK: 1289636 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001096906-17-000323`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	pfie-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 54 Cash Flow Statement 51

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.32M	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.46M	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.28M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.63M	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.37M	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$7.84M	USD	Point-in-time
Inventories, net	`InventoryNet`	$8.02M	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$180.98K	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$320.72K	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$2.22M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$2.97M	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
Investments - other	`OtherInvestments`	$3.00M	USD	Point-in-time
Investments - other	`OtherInvestments`	$2.25M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses & other current assets	`PrepaidExpenseCurrent`	$376.90K	USD	Point-in-time
Prepaid expenses & other current assets	`PrepaidExpenseCurrent`	$410.56K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	53.66M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	53.58M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	50.54M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	50.71M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$29.77M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$28.60M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNet`	$60.94K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNet`	$110.46K	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$5.50M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$6.04M	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$7.26M	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$7.46M	USD	Point-in-time
Goodwill	`Goodwill`	$997.70K	USD	Point-in-time
Goodwill	`Goodwill`	$997.70K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$490.08K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$486.19K	USD	Point-in-time
Total Long-Term Assets	`OtherAssetsNoncurrent`	$14.89M	USD	Point-in-time
Total Long-Term Assets	`OtherAssetsNoncurrent`	$14.51M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$43.11M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$44.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.45M	USD	Point-in-time
Accrued vacation	`AccruedVacationCurrent`	$177.32K	USD	Point-in-time
Accrued vacation	`AccruedVacationCurrent`	$154.31K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$293.77K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$284.21K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$61.54K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$770.53K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.70M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.70M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.72M	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: 53,656,961 issued and 50,539,709 outstanding at March 31, 2017 and 53,582,250 issued and 50,705,933 outstanding at December 31, 2016	`CommonStockValue`	$53.58K	USD	Point-in-time
Common shares: $0.001 par value, 100,000,000 shares authorized: 53,656,961 issued and 50,539,709 outstanding at March 31, 2017 and 53,582,250 issued and 50,705,933 outstanding at December 31, 2016	`CommonStockValue`	$53.66K	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$3.58M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$3.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.81M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.81M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.93M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$41.39M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$41.96M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$44.66M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$43.11M	USD	Point-in-time

Income Statement 54 line items

Line Item	Tag	Value	Unit	Period
Sales of goods, net	`SalesRevenueGoodsNet`	$7.29M	USD	1 Quarter
Sales of goods, net	`SalesRevenueGoodsNet`	$3.97M	USD	1 Quarter
Sales of services, net	`SalesRevenueServicesNet`	$570.73K	USD	1 Quarter
Sales of services, net	`SalesRevenueServicesNet`	$532.27K	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$4.54M	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$7.82M	USD	1 Quarter
Cost of goods sold-product	`CostOfGoodsSold`	$1.78M	USD	1 Quarter
Cost of goods sold-product	`CostOfGoodsSold`	$3.06M	USD	1 Quarter
Cost of goods sold-services	`CostOfServices`	$402.02K	USD	1 Quarter
Cost of goods sold-services	`CostOfServices`	$463.19K	USD	1 Quarter
Total Cost of Goods Sold	`CostOfRevenue`	$2.24M	USD	1 Quarter
Total Cost of Goods Sold	`CostOfRevenue`	$3.46M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$2.30M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$4.37M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.95M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.67M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$198.97K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$153.52K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationNonproduction`	$142.54K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationNonproduction`	$149.08K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$3.30M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.97M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-666.26K	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$1.07M	USD	1 Quarter
Gain on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$887.00	USD	1 Quarter
Gain on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$2.10K	USD	1 Quarter
Other expense	`OtherExpenses`	$-276.31K	USD	1 Quarter
Other expense	`OtherExpenses`	$-5.41K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.42K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$31.28K	USD	1 Quarter
Total Other Income (Expense)	`OtherOperatingIncomeExpenseNet`	$-270.00K	USD	1 Quarter
Total Other Income (Expense)	`OtherOperatingIncomeExpenseNet`	$27.96K	USD	1 Quarter
NET INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.10M	USD	1 Quarter
NET INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-936.27K	USD	1 Quarter
INCOME TAX EXPENSE (BENEFIT)	`IncomeTaxExpenseBenefit`	$-171.65K	USD	1 Quarter
INCOME TAX EXPENSE (BENEFIT)	`IncomeTaxExpenseBenefit`	$498.94K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-764.62K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$600.07K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$75.11K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-840.19K	USD	1 Quarter
Unrealized gains on investments	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Unrealized gains on investments	`UnrealizedGainLossOnInvestments`	$36.29K	USD	1 Quarter
Total Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$111.40K	USD	1 Quarter
Total Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-840.19K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$711.47K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-1.60M	USD	1 Quarter
BASIC EARNINGS (LOSS) PER SHARE	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
BASIC EARNINGS (LOSS) PER SHARE	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
FULLY DILUTED EARNINGS (LOSS) PER SHARE	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
FULLY DILUTED EARNINGS (LOSS) PER SHARE	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	50.63M	shares	1 Quarter
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	53.24M	shares	1 Quarter
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.29M	shares	1 Quarter
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfDilutedSharesOutstanding`	53.24M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-764.62K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$600.07K	USD	1 Quarter
Depreciation and amortization expense	`Depreciation`	$-259.79K	USD	1 Quarter
Depreciation and amortization expense	`Depreciation`	$-237.12K	USD	1 Quarter
Gain on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$887.00	USD	1 Quarter
Gain on sale of fixed assets	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$2.10K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-45.31K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-38.94K	USD	1 Quarter
Stock options issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-181.32K	USD	1 Quarter
Stock options issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-12.52K	USD	1 Quarter
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.43M	USD	1 Quarter
Changes in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$249.84K	USD	1 Quarter
Changes in income taxes receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$568.07K	USD	1 Quarter
Changes in income taxes receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$-207.51K	USD	1 Quarter
Changes in inventories	`IncreaseDecreaseInInventories`	$-399.41K	USD	1 Quarter
Changes in inventories	`IncreaseDecreaseInInventories`	$16.04K	USD	1 Quarter
Changes in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$28.51K	USD	1 Quarter
Changes in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$33.70K	USD	1 Quarter
Changes in deferred tax asset/liability	`IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability`	$-217.46K	USD	1 Quarter
Changes in deferred tax asset/liability	`IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability`	$49.52K	USD	1 Quarter
Changes in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-500.55K	USD	1 Quarter
Changes in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$478.84K	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$1.96M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$1.55M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$30.45K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$42.12K	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$500.41K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$52.72K	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$42.12K	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-522.68K	USD	1 Quarter
Value of equity awards surrendered by employees for tax liability	`ValueOfEquityAwardsSurrenderedByEmployeesForTaxLiability`	$-99.00	USD	1 Quarter
Purchase of Treasury stock	`ProceedsFromSaleOfTreasuryStock`	$-318.90K	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-99.00	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-318.90K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$416.22K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$20.16K	USD	1 Quarter
NET INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.01M	USD	1 Quarter
NET INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.14M	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$9.32M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.46M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$19.28M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.29M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$9.32M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.46M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$19.28M	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$78.00	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.