XML 16 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]        
Revenue $ 21,879,000 $ 53,709,000 $ 99,827,000 $ 134,324,000
Costs and expenses:        
Operating expenses (excluding depreciation and amortization) 23,689,000 45,647,000 106,593,000 117,848,000
Corporate general and administrative 5,685,000 7,476,000 19,020,000 24,634,000
Depreciation and amortization 2,058,000 2,259,000 6,437,000 6,935,000
Research and development 2,297,000 2,350,000 6,657,000 8,054,000
Loss on disposal of long-lived assets 3,000 57,000 1,096,000 119,000
Impairment of goodwill 0 0 0 37,180,000
Total costs and expenses 33,732,000 57,789,000 139,803,000 194,770,000
Loss from operations (11,853,000) (4,080,000) (39,976,000) (60,446,000)
Other (expense) income:        
Interest expense (1,000) (746,000) (2,014,000) (1,902,000)
Loss on sale of business 0 (360,000) 0 (360,000)
Loss on write-down of assets held for sale 0 0 0 (2,580,000)
Other income (expense), net 436,000 10,000 1,236,000 (2,599,000)
Total other income (expense) 435,000 (1,096,000) (778,000) (7,441,000)
Loss before income taxes (11,418,000) (5,176,000) (40,754,000) (67,887,000)
Income tax benefit (expense) 191,000 333,000 1,157,000 (15,545,000)
Loss from continuing operations (11,227,000) (4,843,000) (39,597,000) (83,432,000)
Income from discontinued operations, net of tax 117,000 911,000 46,881,000 4,176,000
Net income (loss) (11,110,000) (3,932,000) 7,284,000 (79,256,000)
Net loss attributable to noncontrolling interests 0 0 0 357,000
Net income (loss) attributable to Flotek Industries, Inc. (Flotek) (11,110,000) (3,932,000) 7,284,000 (78,899,000)
Amounts attributable to Flotek shareholders:        
Loss from continuing operations (11,227,000) (4,843,000) (39,597,000) (83,075,000)
Income from discontinued operations, net of tax 117,000 911,000 46,881,000 4,176,000
Net income (loss) attributable to Flotek Industries, Inc. (Flotek) $ (11,110,000) $ (3,932,000) $ 7,284,000 $ (78,899,000)
Basic earnings (loss) per common share:        
Continuing operations (in dollars per share) $ (0.19) $ (0.08) $ (0.67) $ (1.44)
Discontinued operations, net of tax (in dollars per share) 0 0.02 0.80 0.07
Basic earnings (loss) per common share (in dollars per share) (0.19) (0.06) 0.13 (1.37)
Diluted earnings (loss) per common share:        
Continuing operations (in dollars per share) (0.19) (0.08) (0.67) (1.44)
Discontinued operations, net of tax (in dollars per share) 0 0.02 0.80 0.07
Diluted earnings (loss) per common share (in dollars per share) $ (0.19) $ (0.06) $ 0.13 $ (1.37)
Weighted average common shares:        
Weighted average common shares used in computing basic earnings (loss) per common share (in shares) 59,004 58,319 58,725 57,820
Weighted average common shares used in computing diluted earnings (loss) per common share (in shares) 59,004 58,319 58,725 57,820