Business Context and Reporting Period
Company: Flotek Industries, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 5, 2015
Reporting Period: Preliminary financial information for the quarter ended September 30, 2015.
Key Financial Metrics
This filing references a press release (Exhibit 99.1) containing preliminary financial results for the quarter ended September 30, 2015. The text of this Form 8-K does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Investors must refer to the attached press release for these figures.
Material Changes and Strategic Developments
- Technical Partnership: The Company entered into a technical partnership with Ely & Associates ("Ely"), a leading international stimulation and completion consulting firm.
- Service Expansion: Under this partnership, Flotek and Ely will provide Flotek CnF completion chemistry clients with a suite of stimulation and completion consulting services.
- Strategic Goal: The initiative aims to extend the Company's reach as the leading North American completion chemistry and consulting services concern.
Guidance, Outlook, and Risks
Management Commentary: The Company announced a conference call to discuss operating results for the quarter ended September 30, 2015.
Regulatory Note: Information furnished pursuant to Item 2.02 and Item 7.01 is not deemed "filed" under Section 18 of the Securities Exchange Act of 1934 and is not subject to the liabilities of that section, except as expressly stated.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated October 5, 2015) for specific preliminary financial figures (revenue, EPS, margins) for Q3 2015.
- Confirm the terms and financial impact of the new partnership with Ely & Associates.
- Listen to the conference call transcript for management's detailed commentary on the quarter's performance and future outlook.