Flotek Industries (FTK) Misses Q4 EPS by 4c
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Flotek Industries, Inc. Announces 2015 Results, Provides Financial and Operational Update, Announces Year-End 2015 Conference Call Details
January 27, 2016 5:01 PM ESTHOUSTON, Jan. 27, 2016 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (FTK) today announced results for the three- and twelve-months ended December 31, 2015.
As reported on Form 10-K filed with the U.S. Securities and Exchange Commission, Flotek reported revenue for the year ended December 31, 2015 of $334.4 million, a decrease of $114.8 million, or 25.6%, compared to the year ended December 31, 2014. The decrease in revenue was primarily due to the drastic drop in oilfield market activity resulting from the 47.8% decrease in the average North American active rig count from 2014 to 2015.
Flotek reported a Loss from Operations of $19.2 million... More
