PFIE - Earnings call transcript Q1 2021

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Operator

Good afternoon, everyone, and thank you for participating in today’s conference call to discuss Profire Energy’s First Quarter 2021 Ended March 31, 2021.

Joining us today is the Co-CEO and CFO of Profire Energy, Ryan Oviatt; and Co-CEO, Cameron Tidball.

Before we begin today’s call, I would like to take a moment to read the company’s safe harbor statement. Statements made during this call that are not historical are forward-looking statements. This call contains forward-looking statements, including but not limited to statements regarding the company’s expected growth, success of new partnerships, expansion outside of the company’s traditional markets, and impacts on supply chains. are uncertainty statements circumstances. changes forward-looking such subject and to in All

and actual to as identified statements should place future press are the as forward-looking to available or Exchange obligation provided this www.profireenergy.com. certain It remind be the and forward-looking and Factors of like risks, circumstances, cause business, Reform of will such not results All assumptions by Safe will with such forward-looking that public made assumes I this in statements. or this as May or subsequent factors could or Forward-looking anticipated guarantees to statements. date involve on described update company a the would the release, events forward-looking accessible not starting results replay All only being required in economic, regulatory filed the through the be of undue company’s Readers company’s also of reliance include via recorded website Act are by are that statements call XX, yesterday’s the the evening. well is in XXXX, and everyone these no the materially statements and Securities Commission. differ from forward-looking to performance, or and release forward-looking for statements reflect to as later of Litigation link law. at that made could events events reports periodic affect results the market uncertainties, materially XXXX. statements Private pursuant Securities provisions Harbor

and the Oviatt Energy’s President as of Oviatt of Development, will joined and Mr. Fisher. the of Fugal; and question-and-answer Patrick Product Vice Profire open call your to questions Mr. by part President Jay by remarks Tidball be Operations, session. Vice Tidball, we Following will

the Mr. ahead. Cameron to of Tidbal. conference like Now, the turn over Co-CEO go Please I would to Profire Energy,

Cameron Tidball

joining our industry are call Ryan providing the call I you outlook. will and the all the I today. to call operator, Then welcome we us Thank will a and on start business. of and to who financials provide on review of you, by updates over turn the the some

an Following development business update XXXX, year After has the recent our will direction and share challenges strategic the I Ryan’s on initiatives. and shown oil improvement of of markets. gas remarks, unprecedented current in signs

over to trail summer. negative continues demand to have for history, levels. to in rebounded months late increasing optimism few range. overall the turning future to mid COVID-XX time the hemisphere However, demand and as and restrictions the spring Thanks Since the pre-pandemic WTI for prices enters continue and first past stabilized $XX Northern loosen

crude such as be production utilize and given activity capital debt programs programs, of of discipline. recovery severely infrastructure. the existing Rather E&Ps in for quarter, we cash regions their operators the some major However, strong excess reinstatement global Despite commitment oil reduction, continue drilling price ongoing dividend maintenance flows limiting by appreciation towards activity. in investment to the expect first in to the economic the not still expanded to of XXXX expected to affected India virus, ramp than

the Profire’s, the products continue in Given will through services. to activity see to and and drilling result face, remainder completion the opportunities for we we increased believe realities that have of improvement This continue and year. should

turn financial improve market, discuss which Ryan the to well and sustained opportunities support of retrofit for Ryan? environmental over the will increase operational focus results industry Profire’s efficiencies valuable actions We call upgrade in also outlook. remain to Profire the and as pertain. I represent These our to solutions to services. from provide preventative as the to encouraged maintenance and by now

Ryan Oviatt

Cam. Thanks,

gas and with XXXX started has improved industry. optimism for oil discussed, the off As

for the our outlook are With of and the to started positioned business uptick reinvest pandemic we well we us, ensure year, in hope recovery. take QX to the the to in during worst and of pending improved the we behind business our advantage

the a accustomed our support be employees ensure XXXX. We’ve back roles let will our program that begun in impacted grow to in our office for well and business as will furlough all entry that customers of continue The functions. support to partnerships were more With of which through financial XXXX. XXXX results our have with we will as Spartan our the the new filed service continue press talk turn Profire we into a the to exceptional SEC majority that, closed, me to in highlights market first as ECI, major the discussed Yesterday hiring that was paramount markets, operations roles This for deliver we customer within Cam with and These moment. XX-Q about quarter reinvestment been the the quarter’s and remove eliminated critical after release. to. Controls first our

In documents are on investor represents of call our from of which we The in days. those posted of both available quarter, first the a XX% decrease $X.X always, recognize As revenue, the the in be coming website. this transcript section QX. will million

the the by the prior point year during Total Gross As XXXX the optimism we spending operating noted. to experienced the impacted end the XXXX COVID-XX profit a of decreased which pandemic benefited throughout Russia from last unaffected quarter cycle, vaccine year-over-year the which was to of began were $X.X approximately period XXXX. driven the as by quarter, This caused XXXX the operating for of compared $XXX,XXX presidential turn and XXXX with revenue a operating to margin improvement a structure million combination COVID-related million The historical QX, first environment. decreased of $X.X our revenues decreased million we in caused Gross call first the were in the subsequent $XXX,XXX, quarter XXXX quarter margin below between for the compared price year-ago which of associated quarter Arabia, by election the revenues, the the indicated XX end and year year. quarter increase ultimately March, crude $X was was mostly on an but end significantly fourth On revenues represents amount results. to in in as expenses from of still to XX.X%, furloughs previously pandemic. the implemented the in and modify higher war $X.X quarter taken increased prior of basis, quarter. the for range Saudi fourth XX% due oil Gross prices year in the was and XX.X% unwind our and to we was sequentially quarterly that cost negative the unusual April year million. our as actions reflecting expenses basis

first G&A or Net quarter or the for of compared flow decreased the decreased income loss quarter in receivable, achieved R&D good for the building $X.XX working compares quarter’s first of first a the share and $X.XX and was quarter $X.XX share. last was amortization sale Specifically net $X.X to XXXX, from approximately expense the and strong in loss and was The XX%, expenses XX% per share $XXX,XXX of diluted million XXXX. XX%, old of capital per expense approximately first Canada. first cash the $XXX,XXX $XX,XXX net quarter depreciation quarter increased the to Cash cash management quarter. This year. of of $XXX,XXX year our operations the in prior from on flow quarter accounts through in in per approximately or collections fourth

which $X.X down the end balance address customers’ was at inventory believe from near mostly We are remain of XXXX. our million inventory goods the the quarter million levels, sufficient of orders current in $X.X finished the end Our at term. to our

March of XXXX company order ensure a chain compared a and supplier And our the we are the to Cam? I inventory lead the liquid However, free. investments choice at turn $XX.X customers. in totaled XX, to closely Cash we overview call Cam end to operate strategic of our provide to debt of to remain able will business. million over now challenges are million continues XXXX. monitoring $XX.X and for times supply to at

Cameron Tidball

you, average In XXX. XXXX, count weekly first America XXX increased rig the to quarter Ryan. of the North from quarter for fourth Thank of average the

since the year, a average the still While weekly XXX it XX% from represents risen first the last quarter for of this middle of has XXXX. of decrease number

had industrial Towards bring aligned Profire partnerships and the and that into end markets strategic partners, of combustion we products expand potential the with our the midstream wide strategy entered These agreements Spartan Spartan two downstream Controls growth to market. upstream, business beyond to announce and strengthen Emerson Impact legacy quarter, industrial we range of presence to pleased our are core ECI. has to and a with in Controls grow to transmission. our

continues Currently, and strategy, sales engineering West initiatives of combustion Shale second widespread to solutions our and and user and asset in and encouraged report footprint footprint development to enabling to sales pandemic, we our process focused our in brand we positioned qualified were strategy and the pivotal on end Prior quarter, we are are process will latter This part was the on as sales we well sales. COVID-XX our forward downstream various training new focused Ohio, happy will Pennsylvania, this ECI, and team the our sales the restrictions alternative industrial business expansion service of by Virginia, and were search, travel In provider and in and which Western new and petrochemical their fill customer are due role XXXX. and to for sales and experts. to their our support impact on a their the half of look With combustion. lead revenue respected opportunities opportunities, to quarter, in of should Canada longstanding we markets. application quartile able teams, project Marcellus increase complements first controls be our achieved the pandemic and strong we the automation support the working the to top plans. reputation response quarter. well expertise customers’ in strategy, and region. in of progress in investment traditional to ECI’s we development as identification ECI to to and experienced first resumed that the

service, and industry OEM through our to our with other our to products, expertise. However, They on our procure and continue reliant directly solutions. products work us and and customers resellers and remain services

project a infrastructure energy discussions first and quarter, regarding to project in During thermal engaged appliances. with we X,XXX several company critical midstream a a upgrade design major the

a goal developed and integrator was manufacturer This product order can in in the of Profire’s installation beverage design, and components Profire’s similar installation project quarter, continues traditional clean We currently future our demonstrate energy needs. combustion key and are product this we application capability and markets. present and our the expect excited test to we installation a credibility, a in their of story fourth our plants. to accepted, by Profire will In with continues to received, opportunities to reach demonstrate successful of compelling with innovator repeat and process on announced a solution exploit. turnaround to project complete their quarter. the we as utilized of This leading were we with execution, team application purchase commercialization. continue received unit quarter support of proposal a to expertise of support. the customers represents that availability, one that Projects solutions need core competitiveness, are the the process such to are project commissioning. solutions PFXXXX a call, collaborated potential of orders hydrogen and report has Profire cost and develop existing We outside production and and technology On and and food prior purchase our end our been towards unit.

thermal renewable We for of technology. a also major fuel completed producer successful the installation a our with critical PFXXXX appliance upgrade

explore We this markets. continue other opportunities additional to adjacent and in

by increased new see to existing PFXXXX and continue the customers. We our adoption of

greater the of with As product validation approval customers person our process. in opportunity witness integrated we our coupled is safety see have customer have incredible system, and development and field feedback into performance firsthand improvements to it to latest

PFXXXX pipeline the As to our grow. highlights some continues of shown, have

by encouraged capable we and are breadth We supporting. of that the of are projects applications

in this We opportunities. sheet expect brand to work our we industries Profire’s for expand and markets. partners new and potential being and well broader installation to positioned balance with remains continue investment as experience, our introduce solidify

assets. our on ongoing conduct We our market products a customer remain the as well continue to utilize new that leverage base. are We in for committed careful fit potential technology, opportunities these diligence or business, and and as reputation strategic of our focused core prospects and can significant acquisition use that and due

express would to appropriate dedication and started? I the appreciation, get Before Ryan, for contributions thank to Operator, towards we success we would continued the can instructions employees company. the you please turn their so of and questions, like Q&A provide to our the and

Operator

White line John Certainly. [Operator Instructions] John from is first ROTH Capital. Our open. question with is White, your

John White

Good morning.

Cameron Tidball

John. Hey,

Ryan Oviatt

John. Hey,

John White

Hey industry. know you’ve guys, Congratulations midstream deal. hard energy of the to worked the into that on get I really subset

Cameron Tidball

you. Thank

John White

hiring telling a mind joining more background mentioned you us new You executive. a industry about his her they’re bit what from and business little development Would or you

Cameron Tidball

Yes, definitely.

he should an with this we person but sales is business he direct at least qualify that is not So, Profire not professional. a executive yet, and

So, he but – a and competitor I the known comes thermal from company, industry. in appliance to won’t the us well burner thermal name

with over combustion that years XX So in space. has experience he in working petrochem, refineries,

find to him. lucky really So

what grow can be channels. see on have to either But for forward Gulf the look on organically, working most him sales part, the help to to happy build start, the to We’re the quarters to do he’ll region. us over out board he coming

John White

very Sounds additional Thanks are activity to seeing particular good. In basin play? your upstream much detail. Thanks. the focus according for business, you or any traditional of

Cameron Tidball

most production drilling and For and the completing stayed we’ve way leads Permian part, overall. the course. relatively with Obviously, activity the

be a to Profire’s However, well still where heavily but by that most. strong. continues except to in the our knows, to that’s uptick over little struggling we’ll BMS be experience But everyone Balkan, very are area, the last lower as in The nice is all invested years, seeing a is call couple steady it, Marcellus, we the remains – areas, the ratio strong.

John White

pass Nice Okay. getting is of through on. and job hopefully worst I’ll part this the what it storm, Well.

Cameron Tidball

Thanks, John.

Ryan Oviatt

Thanks, John.

Operator

The line Lake Markets. Brown with Rob Brown, question is next Rob from is Street Capital your open.

Cameron Tidball

Hello Rob.

Rob Brown

this opportunities vertical? about XXXX Can project Just the that you wanted is one-time there that you receiving that size a customer and in in talked maybe growth project to follow us the project, or up of give of a orders? sense other

Cameron Tidball

Yes, great question.

downstream bigger large E&Ps So, is side have some done of for this of That we specifically midstream. big project things we’ve what the to midstream the being call similar past the of internally the in heaters, who facilities. some these

here size the of three did we’ll the and be So magnitude the that in quarter. appliances we doing

which But great. figures. We’ve figure We’re there. them a commissioning two the is of more actually low are today, six line, six got these team in out

Canada, really do And three last that well these So We with types these are XXX, just that over started over but of gotten to projects. some Oklahoma. we’ve applications, first we’ve them they’re nice-sized believe the done in in years area. in really West Texas

we often of they’re almost these, where so great know upgraded. our they’re lot all for and exist. these to to territories. We these, trying they there’s And team exist our the ever of in afraid there that the but afraid be being out not antiquated opportunity, we’re a were of not And very them get old and know of sales they ripe

Rob Brown

sort give growing there gate? of us a relationship’s then And just you how of an hear. impact out having Did to the it, and know about quantify the that Good the great. sense I the been quarter of you talked impact. ECI, Okay, but

Cameron Tidball

aboard things Yes, the well whole QX. the well, Marcellus we’ve for had upstream, pretty first midstream like solidified them in They’re quarter, established in much we region.

which was team. for revenue estimate generated, was strategy we QX with the would revenue, XX% it anyways. sales top their top closer. was their broader to work relationships, Our custom would the XX% was great. mentioned, of as of Profire We revenue some We quartile, size that them get with of is they’re in those that their of revenue revenue probably new probably end all focus, user And gave thought us

our goal to things We direct like And well bring collaborating direct teams ECI. we them. going can getting through as together. much combined are well is the And strategy, working really, as the, there with opportunities. on far is better, the and channel very So, are as through just

Rob Brown

up you where side But opportunities you Okay. and and you’re sheet maturity the M&A areas that do balance what kind have some see maybe I your the can’t are exactly. at you strength that what of that of Excellent. and And talked opens you of say about effort? thinking in about, that the how on

Cameron Tidball

talking to a of or done want this the I’ve Ryan, first? tackle you bit

Ryan Oviatt

in we been Yes, very presented We with this us various working here. Rob. able do has partnerships. that we’ve Good But through. some year challenges I for was certainly some unusual going were to through evaluate some that, and M&A, circumstances we’ve have question, things last to obviously, jump to obviously that investment opportunities, being even continued of

we’ve talking. As been

build build process we all where to We’re strategic doing home other whether partnering use, with in or do the other internally, looking partners. to at what you’re channels that got products, grown that, that, product we’ve where to that, it how

with challenging grow us times on to the over need able We’ve last little that year. building we’re certainly reinvest there’s going of cash position potentially also and are and need a a that’s some a certainly to through levels the certainly additional through look But So lead we face that that last down we’re were side grow the same looking we there. number though, little to other And and fact Movements of some circumstances forward the bit bit vendors of get that and challenging will to capital. that this see at, our of able manage our little those time, believe things our quarter, supply to inventory. challenges sale and some we good things a we well, because good are circumstances. of inventory at challenging and working the helped been as bit

of happening more certainly to lot and we moves of a this are hope that in So cash throughout making and and a some year. strategic things the want opportunities with spectrum to certainly looking that invest be activity, across see needs we of lot

Rob Brown

you. Okay. turn Great, over. thank I’ll it

Ryan Oviatt

Thanks, Excellent. Rob.

Operator

[Operator Jim is question Our your is McIlree, James. Instructions] McIlree next open. with Dawson from line Jim

Ryan Oviatt

Good afternoon, Jim.

Jim McIlree

Thank you. Hey, going? guys how it’s

Cameron Tidball

well. doing Fantastic,

Jim McIlree

your in Ryan, Thanks, comments.

in much about you the have year we is or the wondering You And increase if progresses I’m the beginning pretty as business. talked in the QX process? reinvesting that of further completed saw increases

Ryan Oviatt

to would the I the it’s, we of beginning, have say was step furloughs, a If because it unwinding of did. which probably big a

company I A still now. at were look headcount, ago, XXX, significantly I quite were headcount from we XXX. where about down wide about our XX a think year our for communicate average, you even we’re we maybe on employees I right we’re If if year ago, guess,

very So that. we’re from significantly down

of some and how some also And operations our function. repositioned in is strategic it is and that we’ve our but ourselves, capacity of support within

we’ve can begun we So support customers to throughout support make a and roles, rehire continue to and functions process. few those to grow that sure improve our that

to planning roles few that the to is that we what But a We’re crazy; soon. there But anticipate this probably are not of dependent some realizing we’ve of on anytime we’re planning will on not also XXX to later other bring go in some in year. return recovery.

is few as but more some that well. is a we well, where very product or will modest how inventory certainly Restructured So we’ll we’ll we using from we’re but about year, probably development, our move a going things. a it, that, an step, R&D reinvestments investment. as probably as the in. with and G&A why. be of we to also a have do throughout other do plans and re-prioritized pragmatic reinvest mentioned, perspective, forward may bit this increases to money first see some for roles strategic, as some associated which And then But be it There I be and

Jim McIlree

Or that was evaluating? to something you’re Is the increase table plan the pandemic to And and that order in hit, As spending marketing off selling in that improves? is drive completely the business still now? before line. top the

Ryan Oviatt

believe bit to be year we’re that And that probably years do two It’ll there’s were differently focusing evaluate. value than little and something prioritized we structured a Certainly, ago. we continuing there. doing on or a

to do that market things and you the invest As we need believe We in ways. plan part of certain that mentioned.

we chase that with more As heaters, X,XXX style we that project there’s can there. lot did Cam large believe highlighted we a the that cabin

grow And invest into probably focus to that allocate with in so to we petrochemical that additional the have. business, continue part especially that person more the area, effort sales we’ll of downstream specifically and this

that. differently. certainly you prioritize to add Cam, slightly to Maybe do comment want So there? or continue on anything

Cameron Tidball

captured were very get and But be want and will us. careful that. sit a a you to don’t We perfectly. to We and pragmatic realized opportunity investor we for think have monies, just that’s smart egg. on it about just on to obviously I with We this it. again, it. going cautious It’s be it. return great blessed nest we’re want But to

Jim McIlree

more, going more one lead have can And times. mentioned inventory a understand demanding you’ve short on business, right. to to deliver feel win and like want way All sit you what’s so if it’s customers better you quickly. few inventory just a to our on or, you I times you

invest the inventory. you’re And seems so in than like in It you’re balances sitting on to you have willing about much inventory past. high sanguine more

Ryan Oviatt

Yes, well. I’ll I add comment you that Cam, here can think as

those controllers to of far our boxes, have as couple just we solutions as build in far significant the procure see managing an we’re our valves and well. as for our other but carry, had times the over components. the very even inventory years are solenoids that third-party or BMS in. components But proprietary and continue challenges those we We products, focus in the chain systems, associated increases with We then that large seeing for That’s then we And components levels providing it even that. not lead solution provide and with the supply customers. greater as customers. challenge last that getting seeing believe units whole package, our to product whole and the we’ve and solutions, we’re full to where

to not how certainly longer many be shortages talked bit? is other able that. associated chain support about with lead about an little advantage experiencing as And this times customers, are now. to where to here are right industries supply seeing we a our us? internally to comment for I supply that’s strategically, need you turn us So And we’ve only for could quickly Cam, but And we think to be can continue the

Cameron Tidball

Yes, at way in for a this we big a way as to the definitely operated in North opportunity long oil an time. look has shift America

customers. supply can portrayed, another will think to Ryan lock equipment an naive has from to slowdown, But production, what to we’re times mentioned, an we specification, we chain, opportunity Ryan the I OEMs moving do we’ve this slowly, advantage management. we’ll I are Well, years, own. for in course, just with guess, burner not is, probably is clients is, it use they’ll, our what burner, it is on manufacturers, seeing is it as Now, spec do one OEM that had worst do or OEM way OEM, Profire the global that it, is means this under go we okay, example, solidify the we’re that feel economy what see means or the to fact the get moving or the Profire where of so might, need say to XX moving the our in will the costs as And already some will a to increase, several to of I matter another means need this things. planning box

it, that their work understand with further they if has specification, somebody and five to so else to continue story, if and forecasts lock we they that have the will Profire in it long. and and this pockets and that product they have back-ordered don’t won’t we’ve the But for will go to be the because don’t feel So have not Profire us it’ll it. to tell be we need. we’ve, store It’s exist, last it. it’ll years in customers to we understand going to biggest have at what that ordered, hold our to they’re work won’t on, we if not be the product But have it space to for on have worked don’t it’s it, get won’t

or got to ahead A with out be customers that’s on Jay that in working this, want share the on orders afford out. It from it we’re need you that go what of And so we’re Profire. don’t at we to, to is get supply this strategy won’t to. we because your to they’ve getting won’t the can’t to exist. a it, events. one a And favor And And our bit of just message get because and way makes call. operations team’s to we’re in quite is ordering our in mentioned, be as customers rely of will who that just part to have if going out things His together those it work it, difference. those and has things Ryan past. way investment it with it the a to in on us the But opposed as who been definitely lock you vendors

Jim McIlree

Thanks luck helpful. That’s good. lot, And Very right. guys. a All good with everything.

Cameron Tidball

Yes, thanks, Jim.

Ryan Oviatt

Thanks, Jim.

Operator

is Bair, is question next John your The Advisors. open. from John Bair Wealth Ascend with line

John Bair

afternoon. Thank Good you.

Ryan Oviatt

Hey John.

John Bair

guys are How you doing?

Ryan Oviatt

well. doing We’re

John Bair

that provide on about? when customers, into touch to equipment talking with advance trying you some you’re build main with to just for at Before these of any with the of I projects, something kind working them? you’re get on work all But to in want my were I funding that question. they upfront for trying Yes, these do

Cameron Tidball

some call. projects, a one specifically midstream projects, we That’s actually, our that with question, here of great larger on mentioned the the

applications We often these product will is for that of don’t ask some we for if it’s prevalent. on upfront which sometimes the normally larger stock, project, especially money some larger

and into that, of as refining opportunity of yes, engage and This projects as will So upfront. hope continue are there and is as some course planning get we for its normal get in is get industry larger business. the to we some standard well to process That an petrochem.

John Bair

are part. many in Well, broader offices previous up, mentioned good. able ones generally customers probably but that, hopefully. drag in was now going an prices employees very out vaccination But obviously, prices, back even And speaking, this, bucks. bringing and rates not with cut close spending strongly. being call, companies and my whole and this pretty, pretty question has realizing only Okay, spot their got, so have sales tailwind, a and that foremost that get they’re been obviously, encouraging and seeing, that’s the their this come process, seeing we’ve in gas forth. interact have different announcing so on three reopening that to we’re not companies, prices, industries That’s that, back customers back potential first personally to

are what do Or in from customers how of putting you And? so kind Are basis? you is, out trying – your Again, Are your what seeing asking customers restrictions? they how’s And force face-to-face hearing wondering now? unvaccinated? about I’m that they you any them? get on of from a right or playing sales to And are see front your

Cameron Tidball

question. Great

level my So and had and we’re that to have our dealing far, vaccinations, we provide, COVID nobody to how plan however, customers we And certain is to with of detail. things. response asking knowledge, for

even of near we’re of to to of companies shipping, end able the go had order get they, much the some change, for members just started previously, towards that our more as just QX. on team we’re if down sites, that not it really QX it’s out and locked Some more been as

to on here. last were one XX aren’t love month site, now. them we’re that’s years going meeting we on said, move been the why getting or what stated in They to old they show, love with feel XX get of that’s the know we out Chicago, had to saw their to the out or issue. and out Well, which They XXXX, get really would, the that We’re did actually, trade and oversees it doing. things wanted customer highlighted is Northeast, the to our people had with our even switching. customers, customers mini burner touch doing the XXXX. And this? field. big for them able get the works anyone know, example, out with Northeast. prevalently, hasn’t we and we’re production And just of of an in as the they Quite call for on didn’t a some ability in they we’ve call, is I the we stay equipment able in we’re call XXXX But department So the heads the if they’re Manhattan of we’ll why offices. us, a supervisors, of somewhat not to want in to the a to

can more a And their loving to see just it’s these out which us. sales thing our customers them so products. it, show as solutions. they’re well. been good they electronics; to They’re customers for want noticeably as great want new previously. for has as great. morale some it it we It’s all things, our Because as with team The not so of see definitely than going they And see been they it’s active had is and packaged

previously. were we as limited as not we’re So

John Bair

think? good mean, used right, That’s fair the going say, there’s was it forth. Is good like of to meaningful. the and interacting, and sounds kind year, a true that of You be think Once is teleconferencing been sales to All of on. process people that whole statement? thing to I be to you hear. really permanently follow insight. have to But that’s goes Because how in really so more going kind that Do person a reopen last be going is up changed? the over

Cameron Tidball

We from within us towers from think customers statement. nice to office me to hybrid, the it’s All been years, just definitely do to allow be to a has sales have sort don’t he how and do where at people stay all forever. empty? No, team a back office same a want swing and home of go we We well. in the changed what not it is it’ll process, If and will incredibly think home, will with asked companies But most three I support, hybrid think really adapted just will service I Yes will think impressed working fair today. in Profire This some again. will the the but say even well have departments need. I’ve support. as right, technical adapted that

these Some their they that don’t always Well, have people office offices. now, of have the space. companies downsized for in

it’s worked humans that It’s And again, know, that worked these to so thing training employ That’s It’s that technology that seem always continue technology, thing just it’s well. to humans tactile nice some well. online just it’s have we via nice hybrid, you will tactile that, conference like. that that and to to and for training and have video video so don’t continue we office that Well, technology, online their was will, companies of space. to people video seem that, downsized offices get conference video to employ via now, it’s will, they technology like. training get in training

John Bair

long. good. seeing Thank a Very I look you. conference forward sometime Thank you taking you before at And for questions. too to my

Cameron Tidball

John. good. Sounds Thanks

John Bair

Thanks. good a had Yes, summer.

Cameron Tidball

Right.

Operator

would closing back for now question Cameron to answer any session. This to the concludes Tidball and like conference I over turn remarks. the

Cameron Tidball

our for to appreciate everyone XXXX Profire. quarter on you, support first continued thank discuss We your joining of call results. our Well, us today

participating conference any Part for Thank available a Three questions East be Advisors we’re in Coast always, in the you Also, great day. IDEAS have. you As June. have or and discussion we will might Virtual that

Operator

This concludes today’s conference call.

lines. may day. and Thank disconnect pleasant you a You your have for participating

Profire Energy (PFIE) 9 May 212021 Q1 Earnings call transcript