Last $29.28 USD
Change Today -0.22 / -0.75%
Volume 753.9K
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As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

flotek industries inc (FTK) Snapshot

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04/16/14 - $29.79
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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: $1.2M
Executive Vice President of Operations
Total Annual Compensation: $713.9K
Executive Officer
Total Annual Compensation: $671.0K
Compensation as of Fiscal Year 2012.

flotek industries inc (FTK) Key Developments

Flotek Industries Appoints Amerr Mahgoub as Vice President, Middle East Business Development

Flotek Industries Inc. announced it has appointed Amerr Mahgoub as Vice President, Middle East Business Development. As the leader of Flotek's Middle Eastern business development and marketing team, Mahgoub will focus on development of new and existing markets for Flotek, including the development of markets served by the Flotek-Gulf Energy joint venture based in the Sultanate of Oman and the Company's relationship with Saudi Aramco. Mahgoub is a 25-year oilfield veteran, two decades of which have been spent in the Middle East and Africa. Upon completing his petroleum engineering degree at Louisiana Tech University, Mahgoub joined Schlumberger as a field engineer. He remained with Schlumberger his entire career, assuming greater responsibility over time concluding his tenure as a key relationship manager between Schlumberger and Saudi Aramco. Mahgoub will be based in Saudi Arabia and spend considerable time in Oman as Flotek continues the development of its joint venture with Tasneea and Gulf Energy.

Flotek Industries Inc. Provides Preliminary Earnings Guidance for the Three-Months Ended March 31, 2014

Flotek Industries Inc. provided preliminary earnings guidance for the three-months ended March 31, 2014. For the period, the company believes revenue should exceed $102 million, an increase of over 31% from the same period in 2013. As previously noted, holidays and severe winter weather had an impact on the first weeks of 2014. Moreover, the company expects overall gross margins should exceed 42% for the first quarter, compared to 41.7% in the first quarter of 2013 and 39.5% in the fourth quarter of 2013.

Flotek Industries Inc. Announces Board Changes

Flotek Industries Inc. announced that Kevin Fisher, Executive Vice President of Business Development has announced he will retire from Flotek. Kevin will relocate to Colorado to be closer to family and pursue various personal and professional interests. Mr. Fisher will resign as an officer of Flotek effective March 18, 2014 but will remain an employee of Flotek until the end of April at which time he will become a consultant, without additional compensation, to the Company through the end of 2014. The current technical and sales and marketing teams will assume Kevin's responsibilities.


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Valuation FTK Industry Range
Price/Earnings 43.9x
Price/Sales 4.2x
Price/Book 6.1x
Price/Cash Flow 35.2x
TEV/Sales 4.0x

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