Flotek First Quarter Earnings Sneak Peek

Flotek Industries, Inc. (NYSE:FTK) will unveil its latest earnings on Wednesday, May 9, 2012. Flotek Industries 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 analyst estimate is for profit of 18 cents per share, a spike from net loss of 2 cents in the year-ago quarter. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 147.2% compared to last year’s 89 cents.

Past Earnings Performance: The company has beaten estimates the last two quarters and is coming off a quarter where it topped the forecasts by 5 cents, reporting net income of 20 cents per share against a mean estimate of profit of 15 cents. In the third quarter of the last fiscal year, the company exceeded forecasts by 12 cents with net income of 21 cents versus a mean estimate of profit of 9 cents.

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Wall St. Revenue Expectations: On average, analysts predict $72.7 million in revenue this quarter, a rise of 37.5% from the year-ago quarter. Analysts are forecasting total revenue of $325.8 million for the year, a rise of 25.9% from last year’s revenue of $258.8 million.

Analyst Ratings: The limited number of analysts covering the stock seem bullish with three analysts rating it as a buy, none rating it as a sell and none rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, the company swung to a profit of $991,000 (one cent a share) from a loss of $26.6 million ($1.04) a year earlier, beating analyst estimates. Revenue rose 57.8% to $74.9 million from $47.5 million.

Key Stats:

With double-digit revenue growth the past four quarters, this earnings release is a chance to keep that positive trend going. The company has averaged year-over-year revenue growth of 77.9% over the last four quarters.

Stock Price Performance: Between March 7, 2012 and May 3, 2012, the stock price had risen $2.58 (23.4%), from $11.04 to $13.62. The stock price saw one of its best stretches over the last year between April 23, 2012 and May 2, 2012, when shares rose for eight straight days, increasing 17.9% (+$2.16) over that span. It saw one of its worst periods between September 15, 2011 and September 22, 2011 when shares fell for six straight days, dropping 28.1% (-$1.72) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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