EX-12 2 dex12.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of earnings to fixed charges

Exhibit 12

Flotek Industries, Inc.

Ratio of Earnings to Fixed Charges

(in thousands)

 

     For the Year Ended December 31,   
     2004      2005      2006      2007      2008   

COMPUTATION OF EARNINGS:

               

Add:

               

Income from continuing operations before income taxes and fixed charges

    $ 2,367    $ 9,373    $ 17,933    $ 27,141    $ (41,080 ) 

Fixed charges.

      753      881      1,121      3,738      10,716   

Deduct:

               

Minority interest in pretax income of subsidiaries that have not incurred fixed charges

      —      —      —      916      —   
                                    

Earnings, as defined

    $ 3,120    $ 10,254    $ 19,054    $ 29,963    $ (30,364 ) 
                                    

COMPUTATION OF FIXED CHARGES:

               

Interest expensed and capitalized

    $ 691    $ 827    $ 1,005    $ 3,501    $ 10,233   

Estimate of interest within rental expense (1).

      62      54      116      237      483   
                                    

Fixed charges, as defined

      753      881      1,121      3,738      10,716   
                                    

Ratio of Earnings to Fixed Charges

      4.14      11.64      17.00      8.02      (2.83 ) 
                                    

 

(1)

One third of rental expense is deemed to be representative of interest.

 

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