Lady, check out FTK. They're up 22% since announcement but they're still far from their 52 week high of $30.75.
I haven't followed FTK but right now suppliers (RIG, HAL) to oil industry are up significantly.
FLOTEK INDUSTRIES, INC. ANNOUNCES RECORD 3RD QUARTER EARNINGS OF $0.40 PER SHARE
HOUSTON, October 24, 2006 - Flotek Industries, Inc. (AMEX: FTK) announced record net earnings for the quarter ended September 30, 2006 of $3.5 million or $0.40 per common share ($0.37 per diluted common share). These results compare with third quarter 2005 net earnings of $1.8 million or $0.24 per common share ($0.21 per diluted common share). This near doubling in net earnings was driven by higher sales volumes and increased operating margins in all three core business lines.
Sales in the third quarter 2006 were $29.2 million, an increase of 119% compared to $13.3 million for the third quarter 2005, and a 32% increase compared to the second quarter of 2006. The third quarter of 2006 included the full quarter revenue contribution of three drilling tool acquisitions completed in August 2005 and January 2006 and two artificial lift acquisitions completed in the second quarter of 2006. These acquisitions contributed approximately $7.1 million in revenues for the third quarter 2006. In addition, continued strong organic growth in Chemical and Logistics raised sales in the third quarter of 2006.
Income from operations for the third quarter of 2006 was $6.0 million, an increase of 119% compared to $2.7 million in the third quarter 2005, and a 61% increase from the second quarter of 2006. Following are the results of operations by segment.
AI
