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Last $11.74 USD
Change Today +0.09 / 0.77%
Volume 30.9K
FTK On Other Exchanges
As of 10:04 AM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).

flotek industries inc (FTK) Snapshot

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06/24/14 - $32.92
52 Week Low
05/12/15 - $11.03
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flotek industries inc (FTK) Details

Flotek Industries Inc. provides oilfield services and equipment to the energy and mining industries in the U.S. and internationally. It has three segments: Chemicals & Logistics, Drilling Products, and Artificial Lift. The first develops, manufactures, and markets specialty chemicals used by oilfield service companies in oil and gas well cementing, stimulation, drilling, and production. The segment also designs and manages automated bulk material handling, loading facilities, and blending capabilities for oilfield service companies. The Drilling segment rents, inspects, manufactures, and markets down-hole drilling equipment for the oilfield, mining, water-well, and industrial drilling sectors. The Artificial Lift segment manufactures and markets artificial lift equipment, which includes the Petrovalve line of beam pump components, electric submersible pumps, gas separators, valves, and services to support coal bed methane, traditional gas, and heavy crude production. Flotek is headquartered in Houston and was founded in 1985.

561 Employees
Last Reported Date: 01/27/15

flotek industries inc (FTK) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.3M
Executive Vice President of Operations
Total Annual Compensation: $869.0K
Executive Vice President of Chemistry Researc...
Total Annual Compensation: $938.1K
Chief Financial Officer Emeritus
Total Annual Compensation: $724.6K
Compensation as of Fiscal Year 2014.

flotek industries inc (FTK) Key Developments

Flotek Industries, Inc. Announces Management Changes

Flotek Industries Inc. announced the appointment of Robert M. Schmitz as Executive Vice President and Chief Financial Officer, succeeding H. Richard Walton, who has been named Chief Financial Officer Emeritus and will remain a key part of Flotek's financial leadership team. Mr. Schmitz served as Flotek's Vice President and Corporate Controller since June, 2013. Prior to joining Flotek, Mr. Schmitz served as Vice President and Chief Accounting Officer at Champion Technologies Inc. Mr. Walton has served as Flotek's Chief Financial Officer since January, 2013. Prior to joining Flotek, Mr. Walton spent his entire 30 year career in public accounting, including 20 years as an audit partner at KPMG. His experience includes financial statement audits and registration of securities with the SEC. Mr. Schmitz and Mr. Walton will remain based in the company's Houston headquarters.

Flotek Industries Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Flotek Industries Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, revenue was $82,373,000, loss from operations was $1,289,000, loss before income taxes was $1,921,000 and net loss was $1,515,000 or $0.03 per diluted share against revenue of $102,575,000, income from operations of $18,798,000, income before income taxes of $18,398,000 and net income of $12,018,000 or $0.22 per diluted share for the same period a year ago. EBITDA (Non-GAAP) was $3,056,000 against $23,071,000 a year ago. Net borrowings of $4.0 million during the quarter. Operating cash flows and proceeds from routine asset sales were utilized to fund capital expenditures of $5.6 million and acquisition of substantially all of the assets of International Artificial Lift LLC. Capital expenditures were largely focused on completion of projects initiated in 2014.

Flotek Industries, Inc. Reports Preliminary Cash Flow Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the First Quarter Ended March 31, 2015

Flotek Industries Inc. reported preliminary cash flow results for the first quarter ended March 31, 2015. In the first quarter, the company generated over $6 million in cash flow from operations. Capital expenditures were largely focused on completion of projects initiated in 2014. The company provided earnings guidance for the first quarter ended March 31, 2015. For the quarter, the company believes that revenue in the first quarter will exceed $82 million. For the three months ended March 31, 2015, the company expects to report a net loss of approximately $1.5 million or $0.03 per share on a fully diluted basis. The company expects first quarter Earnings Before Interest Taxes Depreciation and Amortization, or EBITDA, a non-GAAP measure of financial performance, is expected to be over $3 million.


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