UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 5, 2014
Flotek Industries, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 001-13270 | 90-0023731 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
10603 W. Sam Houston Pkwy N., Suite 300 Houston, Texas |
77064 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (713) 849-9911
NOT APPLICABLE
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02 | Results of Operations and Financial Condition. |
On February 5, 2014, Flotek Industries, Inc. (the Company) issued a press release providing preliminary income results for the quarter ended December 31, 2013 and announcing that it will hold a conference call discussing its operating results. The February 5, 2014 press release is furnished herewith as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
The information furnished pursuant to Item 2.02 of this Current Report on Form 8-K and in Exhibit 99.1 shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing of the Companys under the Securities Act, except as otherwise expressly stated in such filing
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit |
Description | |
99.1 | Press release dated February 5, 2014. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FLOTEK INDUSTRIES, INC. | ||||||
Date: February 5, 2014 | /s/ H. Richard Walton | |||||
H. Richard Walton | ||||||
Executive Vice President and Chief Financial Officer |
EXHIBIT INDEX
Exhibit |
Description | |
99.1 | Press release dated February 5, 2014. |
Exhibit 99.1
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FOR IMMEDIATE RELEASE CONTACT: Investor Relations (713) 726-5376 IR@flotekind.com |
Flotek Industries, Inc. Announces Fourth Quarter and Year-End, 2013
Earnings Schedule, Preliminary Income Results, and Upcoming
Conference Presentations
HOUSTON, February 5, 2014 /PRNewswire/ Flotek Industries, Inc. (Flotek or the Company) (FTK) will host a conference call on Tuesday, February 11, 2014 at 7:30 a.m. Central Standard Time to discuss its operating results for the twelve-months and quarter ended December 31, 2013. Flotek intends to provide dial-in information through a press release on February 10, 2014.
Flotek plans to file its 10-K after the market close on Monday, February 10, 2014. In addition, the Company will provide additional details regarding operating results in a press release after the market close on February 10, 2014.
Preliminary Fourth-Quarter Data
While the Company is still completing final year-end accounting and audit processes, Flotek believes that Earnings Per Share (EPS), on a fully-diluted basis, will exceed $0.18 per share for the three-months ended December 31, 2013. The Company previously indicated that revenues for the three-months ended December 31, 2013 should exceed $100 million with enterprise-wide gross margins of approximately 39%. Final and comprehensive results will be provided after the market close on Monday, February 10, 2014.
Flotek ended 2013 on a strong note, posting solid earnings and record quarterly revenue, a testament to the tenacity and focus on efficient execution of the entire Flotek team, said John Chisholm, Flotek Chairman, President and Chief Executive Officer. Floteks continued growth especially given less robust drilling activity in key basins is encouraging and provides a solid foundation on which to build as we begin the new year. We are especially pleased with the
Flotek Industries, Inc. | Media Release FOR IMMEDIATE RELEASE |
February 5, 2014 |
results from our Energy Chemistry Technologies group, which was an important contributor to our fourth quarter results. Our team has developed an aggressive plan for growth in 2014, one we hope will continue to provide industry-leading returns for our stakeholders. We look forward to a full discussion of our year-end results on February 11.
Upcoming Conference Presentations
Flotek Chairman, President and Chief Executive Officer John Chisholm will be making presentations to Flotek stakeholders at the following upcoming meetings:
On February 12, 2014, Mr. Chisholm will present at the Independent Petroleum Association of America Florida Oil and Gas Symposium. Mr. Chisholms presentation begins at 1:35pm EST.
On February 19, 2014, Mr. Chisholm will present at The Oil & Services Conference, presented by Enercom, Inc. Mr. Chisholms presentation in San Francisco will begin at 10:05am PST.
On February 26, 2014, Mr. Chisholm will present at the Gabelli & Company 24th annual Industrial Flow and Infrastructure Conference in New York City. Mr. Chisholms presentation begins at 9:00am EST.
Links to the webcasts and presentation materials for each conference will be available coincident with the live presentations on the Flotek website, www.flotekind.com.
About Flotek Industries, Inc.
Flotek is a global developer and distributor of a portfolio of innovative oilfield technologies, including specialty chemicals and down-hole drilling and production equipment. It serves major and independent companies in the domestic and international oilfield service industry. Flotek Industries, Inc. is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol FTK.
For additional information, please visit Floteks web site at www.flotekind.com.
Flotek Industries, Inc. | Media Release FOR IMMEDIATE RELEASE |
February 5, 2014 |
Forward-Looking Statements
Certain statements set forth in this Press Release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Incs business, financial condition, results of operations and prospects. Words such as expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this Press Release.
Although forward-looking statements in this Press Release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, but are not limited to, demand for oil and natural gas drilling services in the areas and markets in which the Company operates, competition, obsolescence of products and services, the Companys ability to obtain financing to support its operations, environmental and other casualty risks, and the impact of government regulation.
Further information about the risks and uncertainties that may impact the Company are set forth in the Companys most recent filings on Form 10-K (including without limitation in the Risk Factors Section), and in the Companys other SEC filings and publicly available documents. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this Press Release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this Press Release.
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