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flotek industries inc (FTK) Snapshot

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06/24/14 - $32.92
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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.

487 Employees
Last Reported Date: 02/10/14

flotek industries inc (FTK) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $498.0K
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $398.4K
Executive Vice President of Operations
Total Annual Compensation: $587.3K
Executive Vice President of Chemistry Researc...
Total Annual Compensation: $552.2K
Total Annual Compensation: $565.5K
Compensation as of Fiscal Year 2013.

flotek industries inc (FTK) Key Developments

Flotek Industries, Inc. Provides Earnings Guidance for the Third Quarter Ended September 30, 2014

Flotek Industries Inc. provided earnings guidance for the third quarter ended September 30, 2014. The company believed that revenue in the third quarter will exceed $115 million, a record for the company. In addition, the company expects Energy Chemistry Technology revenues for the quarter to exceed $67 million and Drilling Technology revenues to approach $30 million. Enterprise-wide gross margins should approach 40% for the quarter ended September 30, 2014. the company expects Energy Chemistry gross margins to experience a modest transient impact from a handful of events including an increase in logistics costs, a new incentive pricing structure, and one-time inventory adjustments.

Flotek Industries Inc. Announces New Research & Innovation Leadership Center

Flotek Industries Inc. announced the signing of a multi-year lease to create a new Research & Innovation Leadership Center in Northwest Houston, doubling the size of the company's chemistry research effort. In addition, the company announced the creation of FracMax Analytics, LLC, a wholly-owned subsidiary of Flotek which will focus on applied research and data analysis generated by Flotek's new proprietary software application. Flotek's new Research & Innovation Leadership Center will be a 50,000-plus square foot facility located in the Sam Houston Business Park in Northwest Houston. The facility, twice the size of Flotek's current research footprint, will combine the company's applied research and conceptual innovation teams in their development of next-generation chemistries for the oilfield. The Research & Innovation Leadership Center will have applied and theoretical research laboratories, collaborative innovation centers and customer demonstration facilities that will provide for an unparalleled sensory customer experience. In addition, the proximity to Flotek's corporate headquarters will provide synergistic opportunities for Flotek's research and marketing teams to collaborate on strategy and sales opportunities in ways not currently available.

Flotek Industries Inc. Presents at Johnson Rice 2014 Energy Conference, Oct-01-2014 10:00 AM

Flotek Industries Inc. Presents at Johnson Rice 2014 Energy Conference, Oct-01-2014 10:00 AM. Venue: Hotel Monteleone, 214 Royal Street, New Orleans, LA 70130, United States. Speakers: John W. Chisholm, Chairman, Chief Executive Officer and President.


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