Flotek Industries, Inc. Quarterly Earnings Sneak Peek

Flotek Industries, Inc. (NYSE:FTK) will unveil its latest earnings on Thursday, August 4, 2011. Flotek Industries, Inc. is a global supplier of drilling and production related products and services to the oil and gas industry.

Flotek Industries, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 5 cents per share, a swing from a loss of 30 cents in the year earlier quarter. During the past three months, the average estimate has moved up from a loss of 19 cents. For the year, analysts are projecting net income of 33 cents per share, a swing from net loss of 67 cents last year.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked a loss of 2 cents per share versus a mean estimate of net loss of 13 cents per share.

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Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 70.1%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 93.3% from the year earlier quarter.

Flotek Industries’ profit in the latest quarter follows losses in the three previous quarters. The company reported a profit of $10.4 million in the first quarter, a loss of $26.6 million in the fourth quarter of the last fiscal year, a loss of $1.2 million in the third of the last fiscal year and a loss of $6.2 million in the second quarter of the last fiscal year.

The company raised its gross margin by 11.7 percentage points in the in the first quarter. Revenue rose 86.5% while cost of sales rose 56% to $31.8 million from a year earlier.

Competitors to Watch: Cameron Intl. Corp. (NYSE:CAM), Dril-Quip, Inc. (NYSE:DRQ), National-Oilwell Varco, Inc. (NYSE:NOV), Baker Hughes Incorporated (NYSE:BHI), Oil States Intl., Inc. (NYSE:OIS), Lufkin Industries, Inc. (NASDAQ:LUFK), FMC Technologies, Inc. (NYSE:FTI), Bolt Technology Corp. (NASDAQ:BOLT), Tesco Corporation (NASDAQ:TESO), and Newpark Resources, Inc. (NYSE:NR).

Stock Price Performance: During June 30, 2011 to July 29, 2011, the stock price had risen 91 cents (10.7%) from $8.52 to $9.43. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 5, 2011 when shares rose for seven-straight days, rising 16.1% (+$1.23) over that span. It saw one of its worst periods between July 22, 2011 and July 29, 2011 when shares fell for six-straight days, falling 10.6% (-$1.12) over that span. Shares are up $3.98 (+73%) year to date.

(Source: Xignite Financials)

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