HOUSTON (AP) — HOUSTON (AP) — Flotek Industries Inc. (FTK) on Wednesday reported fourth-quarter net income of $3 million.
The Houston-based company said it had profit of 8 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The oilfield services company posted revenue of $67.5 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $52.1 million.
For the year, the company reported profit of $30.5 million, or 84 cents per share. Revenue was reported as $237.3 million.
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