Flotek Industries, Inc. (NYSE:FTK)

We will now track FTK's quarterly results based off strong fourth quarter. Please see our original premium note from 1/4/2012 on our Energy Exploration Blog.

Fourth Quarter 2011 Results

• For the three months ended December 31, 2011, Flotek posted revenue of $74.9 million, an increase of $27.4 million, or 57.8%, compared to $47.5 million in the same period of 2010
• Excluding the effect of the change in the fair value of the warrant liability, the Company posted net income for the three months ended December 31, 2011 of $10.0 million or $0.20 per common share (diluted).

"Members of the Flotek team should be very proud of all they accomplished in 2011," said John Chisholm, Chairman and President of Flotek. "The ability of a company and its team to transform its financial standing as well as reengineer its way of doing business and still post 'best in class' growth is a testament to the dedication, spirit and perseverance of every member of the Flotek family from the corporate office in Houston to each field location from the Rockies to Appalachia and the Gulf Coast to the Permian Basin. While we are pleased with our progress, it only makes us thirsty for more and our team will accept the challenge to post even better results in 2012."

"As I reflect on the journey of the past two-plus years, I am struck by the distance Flotek has traveled in such a short period of time," concluded Chisholm. "Moreover, the outcome of the journey is one few predicted, caught most by surprise and, most importantly, served to energize the spirit and imagination of the people of Flotek. The thought now is simple: If we were able to accomplish so much starting with so little, imagine what we can accomplish with the resources at Flotek's disposal today. That, indeed, is the challenge for 2012: to harness the resources we have developed to create more opportunities for growth, more opportunities for value creation and more opportunities for further self-improvement in 2012 and beyond. With our team in place, I am more excited than ever about the future of Flotek."

Early 2012 Snapshot

As noted in the past, Flotek's first quarter is traditionally more moderate than the balance of the year, a result of seasonal weather and environmental regulations that can dampen activity in various regions of the United States.

However, Flotek was strong out of the gate in both January and February, a combination of continued market growth, the Company's improved marketing culture and unseasonably cooperative weather. As a result, Flotek's revenues in the first two months should exceed $48 million, an increase of nearly 50% from the first two months of 2011. Absent significant weather disruptions we would expect continued monthly growth in March.

Notes from our 1/4/2012 premium blog.

A pioneer in fossil fuel fracking industry. Fracking is a method used to extract fossil fuels from rock formations. FTK has proprietary technology which causes less damage to environment then competing technologies.  Successfully traded the stock before, wanted to wait for pull back before making long term commitment.  Unfortunately stock has continued to run, we will continue to watch for pullback to enter.

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