Flotek sees fall in first quarter
Flotek Industries has reported a drop in net income from $3.7 million in the
first quarter of 2007 to $3.4 million in 2008.
Meanwhile, total revenue for the quarter came in at $46.5 million, an increase
of 32.5% compared to $35.1 million in 2007.
The increase was attributed to Revenue increased due to a strong market for
its micro emulsion products and the acquisition of Teledrift.
The company also announced that it has appointed Steve Reeves as the company's
new executive vice president and chief operating officer.
Reeves previously headed the company’s downhole tool department.
Meanwhile, total revenue for the quarter came in at $46.5 million, an increase
of 32.5% compared to $35.1 million in 2007.
The increase was attributed to Revenue increased due to a strong market for
its microemulsion products and the acquisition of Teledrift.
08 May 2008 14:28 GMT
| last updated:
08 May 2008 14:32 GMT
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