BNET Industries

Flotek Industries Inc.

(FTK) is in the Manufacturing Industry

Market Cap:$28.5M
Last Fiscal Year Sales:$158.0M
  • Public
  • US
Dow Jones Description

Founded in 1985 and headquartered in Houston, TX, Flotek Industries, Inc. (AMEX: FTK) develops, manufactures, and markets various chemicals, products, and services to the petroleum industry. The company operates in three segments: Chemicals-Logistics, Drilling Products, and Production Products. It provides chemicals for cementing and stimulating producing wells and makes various tools for drilling and pumping petroleum. It markets through a direct sales force. In April 2006, it acquired Total Well Solutions, LLC for about $4.8 million.

President & CTO
Glenn S. Penny
Number of Employees 448
Contact Information

7030 Empire Central Drive

Houston, Texas 77040

www.flotekind.c...

(713) 849-9911

NAICS Code All Other Miscellaneous Chemical Product and Preparation Manufacturing: 325998

Recent Events

  • Flotek's 3Q Revenues Hit by Declines in Oilfield Activity

    11/17/09 - Financial Announcement - View Story

  • Flotek Industries, Inc. Announces Results of Special Meeting of Stockholders, Change to Board of Directors,...

    11/10/09 - Board Member - Entering - View Story

  • BRIEF-Flotek Industries announces executive reorganization

    11/04/09 - Board Member - Leaving - View Story

  • Flotek Industries, Inc. Announces Executive Reorganization, Change to Board of Directors and Reminder of Special...

    11/04/09 - Mgmt. Change Entering - CFO - View Story

  • Flotek Industries says CEO to retire in 2010

    8/11/09 - Mgmt. Change Entering - President - View Story

  • FTK: Chairman and CEO Jerry Dumas to Retire in 2010

    8/11/09 - Board Member - Leaving - View Story

  • Flotek Industries Chairman, President And CEO Jerry Dumas Plans To Retire In 2010 - Quick...

    8/11/09 - Mgmt. Change Leaving - President - View Story

  • Flotek posts 2Q loss as sales drop by half

    8/13/09 - Financial Announcement - View Story

News & Analysis

flotek industries inc. - All News and Analysis

Decision Makers

Name (plus bio) Position
Glenn S. Penny President & CTO
Lisa Bromiley Meier CFO & Vice President
William R. Ziegler Director

Board of Directors

Name (plus bio) Position
Barry E. Stewart Board of Directors
Gary M. Pittman Board of Directors
Jerry D. Dumas Sr. Board of Directors
John W. Chisholm Board of Directors
Richard O. Wilson Board of Directors
Robert S. Beall Board of Directors
William R. Zeigler Board of Directors

Organization Position Status
Flotek Industries, Inc. President & CTO Current
Flotek Industries, Inc. Board of Directors Current
Trinity University BS degree in Chemistry Former

Organization Position Status
Flotek Industries, Inc. CFO & Vice President Current

Barry Stewart joined LHC Group in June of 2006. He has extensive experience in the healthcare industry, serving most recently as the CFO of Rotech Healthcare, a provider of home respiratory care and durable medical equipment and services to patients with breathing disorders. Prior to that, he was CFO at Evolved Digital Systems, a healthcare technology solutions company, and Vice President of Finance and Treasurer at Community Health Systems, an operator of general acute care hospitals in non-urban communities throughout the country. Mr. Stewart earned a Bachelor's Degree in Business Administration at Northeast Louisiana University and holds an MBA from the University of Houston. Additionally, he is a licensed CPA, as well as a Permanent Member of the Treasury Management Association. He is also a member of the American Institute of Certified Public Accountants, the Tennessee Society of Certified Public Accountants, and the Texas Society of Certified Public Accountants.

Organization Position Status
American Institute of Certified Public Accountants Current
Rotech Healthcare Inc. Board of Directors Current
Hotstocked.Com Board of Directors Current
Flotek Industries, Inc. Board of Directors Current
Evolved Digital Systems Inc. Cfo Former
Rotech Healthcare Inc. Cfo Former
LHC Group, Inc. Cfo & Senior Vice President Former
Community Health Systems, Inc. Vice President of Finance and Treasurer Former
The University of Houston Mba Former
Northeast Louisiana University Bachelor's Degree In Business Administration Former

Organization Position Status
Flotek Industries, Inc. Board of Directors Current
Georgetown University MBA Former
Wheaton College BA degree in Economics, Business Former

Organization Position Status
Flotek Industries, Inc. Board of Directors Current
Flotek Industries, Inc. Chairman & CEO Former
Baker Hughes Incorporated President Former
Louisiana State University BS degree in Natural Sciences Former

Organization Position Status
Wellogix, Inc. Founder Current
Natural Gas Services Group, Inc. Board of Directors Current
Flotek Industries, Inc. Board of Directors Current
Protechnics President Former
Fort Lewis College Degree Former

Organization Position Status
Flotek Industries, Inc. Board of Directors Current
Callon Petroleum Company Board of Directors Current
Halliburton Company Senior Vice President Former
Halliburton Company Director Former
Rice University B.S. Degree In Civil Engineering Former

Organization Position Status
Flotek Industries, Inc. Board of Directors Current

Organization Position Status
Flotek Industries, Inc. Board of Directors Current

William R. Ziegler is of counsel to Satterlee Stephens Burke & Burke LLP. He has practiced corporate, banking and securities law since 1968. Mr. Ziegler holds directorships in several corporations, including Sarvis Incorporated, Grey Wolf, Inc., Equinox Capital, Geokinetics Inc., Flotek, Inc. Somerset Energy Co., Vesta Corp. and La Crosse Milling Company. He specializes in financial, transactional and regulatory matters, including mergers, acquisitions and dispositions, commercial and industrial financing transactions, workouts and debt restructurings, and securities offerings. During his career, he has served as a principal outside counsel to Fleet Bank (New York Region), Mutual Benefit Life (Capital Markets Group), Empire Insurance Group, Macmillan, Inc., The United Corporation, Canadian International Power Company Ltd. and the Grumman Corporation Employee Investment Plan, which held the controlling block of that company's stock. Mr. Ziegler has served as regular counsel to property casualty and life insurance companies and has participated in the demutualization of a New York State insurer. He also represents public and private energy companies and energy service companies as their general counsel and in a variety of transactional and securities matters. He serves as Chairman of Vesta Corp. and Geokinetics and Vice Chairman of Grey Wolf, Inc. In the course of his practice, Mr. Ziegler has had in-depth experience with mergers and acquisitions of public and private corporations. He has advised corporate fiduciaries which were subject to hostile takeovers and in a variety of other circumstances, including proxy contests, insolvencies and corporate reorganizations. He has represented first-time issuers of publicly traded debt and equity securities and corporations which have issued such securities to finance capital expansion and in connection with acquisitions and reorganizations. Mr. Ziegler is admitted to practice in New York and before the United States Court of Appeals, Second Circuit.

Organization Position Status
Satterlee Stephens Burke & Burke Llp Partner Current
Sarvis, Inc Current
Carrier Services, Inc Chairman Current
Vesta Corporation Chairman Current
Flotek Industries, Inc. Director Current
Geokinetics, Inc. Director Current
Grey Wolf, Inc. Vice Chairman Current
Whitman Breed Abbott & Morgan LLC Partner Former
Satterlee Stephens Burke & Burke Llp Counsel Former
Empire Insurance Group Former
La Crosse Milling Company Former
Capital Markets Group, Inc Former
Vesta Corporation Board of Directors Former
Grey Wolf, Inc. Director Former
Columbia Business School MBA in Business Former
Columbia University MBA Former
University of Virginia School of Law LLB degree Former
Amherst College BA degree in Economics Former
University of Virginia School of Law degree in LLB Law Former

Executive News

  • Flotek posts 2Q loss as sales drop by half

    CNBC - 8/13/09 - View Story

  • Flotek Industries, Inc. Provides Operational Update and Expanded 2009 Second Quarter Results

    PR Newswire - 8/13/09 - View Story

  • Flotek Industries says CEO to retire in 2010

    CNBC - 8/11/09 - View Story

  • FTK: Chairman and CEO Jerry Dumas to Retire in 2010

    TradingMarkets - 8/11/09 - View Story

  • Dumas to retire from Flotek

    Houston Business Journal - 8/11/09 - View Story

  • Morning Movers 8/11: AVNR, RWC, HLCS, ANPI, ANDS, AGM Higher; JAV, BIDZ, PETD, AHR, CIT, FTK, CLNE Lower

    Street Insider - 8/11/09 - View Story

  • Flotek Industries Chairman, President And CEO Jerry Dumas Plans To Retire In 2010 - Quick Facts

    RTTNews.com - 8/11/09 - View Story

  • Market Report -- In Play (FTK)

    Briefing.com via MSN Money - 8/11/09 - View Story

  • Flotek Industries, Inc. Announces Management Transition Plan

    PR Newswire - 8/11/09 - View Story

  • Flotek Industries, Inc. Announces Management Transition Plan

    BusinessWeek - 8/11/09 - View Story

  • Flotek (FTK) Reports Large Q2 Loss; Announces $16M Equity Private Placement, Amendment of Credit Facility; Chairman, President, CEO to Retire

    Street Insider - 8/11/09 - View Story

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     FTK $1.22 +0.03 (2.52% )
Average Volume 551,386
Shares Outstanding 23.44M
Market Cap 28.6M
Year High 5
Year Low 1.15
Earnings Per Share -4.72
P/E Ratio -0.26
Dividend N/A
Yield N/A
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