FLOTEK INDUSTRIES INC - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K, dated November 15, 2007, reports the acquisition of CAVO Drilling Motors, Ltd. Co. ("CAVO") by Flotek Industries, Inc. The filing serves to provide the audited financial statements of the acquired business and unaudited pro forma financial information as required by Item 9.01.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references the inclusion of the following documents containing these metrics:
- CAVO Drilling Motors, Ltd. Co. audited financial statements (Balance Sheet, Statement of Income, Statement of Cash Flows).
- Unaudited Pro Forma Combined Balance Sheet as of September 30, 2007.
- Unaudited Pro Forma Combined Statement of Income for the nine months ended September 30, 2007.
Material Changes
The primary material change is the acquisition of CAVO Drilling Motors, Ltd. Co. on November 15, 2007. This transaction alters the company's asset base and operational scope, reflected in the pro forma financial information.
Guidance, Outlook, and Risks
The filing text does not contain specific management commentary, future guidance, risk factors, or contingencies related to the acquisition. It strictly fulfills the disclosure requirement for financial statements and exhibits.
Investor Verification Checklist
- Review Exhibit 99.1 for the audited financial health of CAVO Drilling Motors, Ltd. Co.
- Analyze Exhibit 99.2 for the unaudited pro forma combined financial impact of the acquisition on Flotek's balance sheet and income statement.
- Verify the purchase price and consideration details, which are not explicitly stated in this summary text but are likely detailed in the referenced exhibits or the November 20, 2007 Form 8-K.