XML 17 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenue $ 59,086,000 $ 85,177,000 $ 119,602,000 $ 165,131,000
Costs and expenses:        
Cost of revenue (excluding depreciation and amortization) 46,738,000 58,574,000 92,439,000 110,199,000
Depreciation and amortization 3,025,000 2,991,000 6,027,000 6,023,000
Research and development 3,102,000 4,109,000 6,026,000 7,250,000
Loss on disposal of long-lived assets 5,000 214,000 62,000 412,000
Impairment of goodwill 37,180,000 0 37,180,000 0
Total costs and expenses 105,587,000 86,429,000 172,888,000 167,005,000
Loss from operations (46,501,000) (1,252,000) (53,286,000) (1,874,000)
Other (expense) income:        
Interest expense (640,000) (549,000) (1,156,000) (1,145,000)
Loss on write-down of assets held for sale (2,580,000) 0 (2,580,000) 0
Other (expense) income, net (2,133,000) 237,000 (2,417,000) 391,000
Total other expense (5,353,000) (312,000) (6,153,000) (754,000)
Loss before income taxes (51,854,000) (1,564,000) (59,439,000) (2,628,000)
Income tax (expense) benefit (23,537,000) 442,000 (15,885,000) 762,000
Loss from continuing operations (75,391,000) (1,122,000) (75,324,000) (1,866,000)
Loss from discontinued operations, net of tax 0 (2,704,000) 0 (13,937,000)
Net loss (75,391,000) (3,826,000) (75,324,000) (15,803,000)
Net loss attributable to noncontrolling interests 357,000 0 357,000 0
Net loss attributable to Flotek Industries, Inc. (Flotek) (75,034,000) (3,826,000) (74,967,000) (15,803,000)
Amounts attributable to Flotek shareholders:        
Loss from continuing operations (75,034,000) (1,122,000) (74,967,000) (1,866,000)
Loss from discontinued operations, net of tax $ 0 $ (2,704,000) $ 0 $ (13,937,000)
Basic earnings (loss) per common share attributable to Flotek:        
Continuing operations (in dollars per share) $ (1.30) $ (0.02) $ (1.30) $ (0.03)
Discontinued operations, net of tax (in dollars per share) 0.00 (0.05) 0.00 (0.24)
Basic earnings (loss) per common share (in dollars per share) (1.30) (0.07) (1.30) (0.27)
Diluted earnings (loss) per common share attributable to Flotek:        
Continuing operations (in dollars per share) (1.30) (0.02) (1.30) (0.03)
Discontinued operations, net of tax (in dollars per share) 0.00 (0.05) 0.00 (0.24)
Diluted earnings (loss) per common share (in dollars per share) $ (1.30) $ (0.07) $ (1.30) $ (0.27)
Weighted average common shares:        
Weighted average common shares used in computing basic earnings (loss) per common share (in shares) 57,869 57,854 57,566 57,764
Weighted average common shares used in computing diluted earnings (loss) per common share (in shares) 57,869 57,854 57,566 57,764
Corporate        
Costs and expenses:        
General, selling and administrative $ 8,665,000 $ 11,155,000 $ 17,158,000 $ 23,426,000
Loss from operations (9,212,000) (11,767,000) (18,269,000) (24,643,000)
Operating Segments        
Costs and expenses:        
General, selling and administrative $ 6,872,000 $ 9,386,000 $ 13,996,000 $ 19,695,000