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Flotek Industries Q4 revenue $19.5 million

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Christian Fernsby ▼ | March 6, 2020
Flotek Industries yesterday announced results for the fourth quarter ended December 31, 2019.
Flotek Industries
Flotek Industries   A loss from continuing operations was $37.1 million
Generated fourth quarter 2019 revenue of $19.5 million, a loss from continuing operations of $37.1 million and an adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") loss of $8.9 million, compared to revenue of $21.9 million, a loss from continuing operations of $11.2 million and an adjusted EBITDA loss of $8.1 million for the third quarter of 2019.

Topics: Flotek Industries

In the fourth quarter, adjusted EBITDA was $0.8 million less than the third quarter primarily due to lower revenue and a change in product mix.

The $37.1 million loss for the three months ended December 31, 2019 included a non-recurring $15.8 million loss on purchase commitments associated with the Company's terpene supply agreement with Florida Chemical Company, LLC ("FCC") entered into in February 2019, and the recording of an additional $4.4 million reserve related specifically to the Company's terpene inventory balance as of December 31, 2019.


 

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