Flotek Industries (FTK) 10-Q 22 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 15, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	FLOTEK INDUSTRIES INC/CN/
Entity Central Index Key	928,054
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		53,608,401

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 2,475	$ 1,266
Accounts receivable, net of allowance for doubtful accounts of $825 and $847 at June 30, 2015 and December 31, 2014, respectively	56,466	78,624
Inventories	84,601	85,958
Income taxes receivable	947	0
Deferred tax assets, net	2,602	2,696
Other current assets	6,011	11,055
Total current assets	153,102	179,599
Property and equipment, net	86,996	86,111
Goodwill	72,820	71,131
Deferred tax assets, net	18,871	12,907
Other intangible assets, net	71,604	73,528
TOTAL ASSETS	403,393	423,276
Current liabilities:
Accounts payable	27,140	33,185
Accrued liabilities	11,276	12,314
Income taxes payable	0	1,307
Interest payable	106	93
Current portion of long-term debt	30,332	18,643
Total current liabilities	68,854	65,542
Long-term debt, less current portion	21,827	25,398
Deferred tax liabilities, net	22,537	25,982
Total liabilities	$ 113,218	$ 116,922
Commitments and contingencies
Equity:
Cumulative convertible preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding	$ 0	$ 0
Common stock, $0.0001 par value, 80,000,000 shares authorized; 55,917,984 shares issued and 53,608,401 shares outstanding at June 30, 2015; 54,633,726 shares issued and 53,357,811 shares outstanding at December 31, 2014	6	5
Additional paid-in capital	265,997	254,233
Accumulated other comprehensive income (loss)	(666)	(502)
Retained earnings	38,700	52,762
Treasury stock, at cost; 1,458,061 and 449,397 shares at June 30, 2015 and December 31, 2014, respectively	(14,220)	(495)
Flotek Industries, Inc. stockholders' equity	289,817	306,003
Noncontrolling interests	358	351
Total equity	290,175	306,354
TOTAL LIABILITIES AND EQUITY	$ 403,393	$ 423,276

Unaudited Consolidated Balance3

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 825	$ 847
Cumulative convertible preferred stock, at par value (in dollars per share)	$ 0.0001	$ 0.0001
Cumulative convertible preferred stock, shares authorized	100,000	100,000
Cumulative convertible preferred stock, shares issued	0	0
Cumulative convertible preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	55,917,984	54,633,726
Common stock, shares outstanding	53,608,401	53,357,811
Treasury stock, shares	1,458,061	449,397

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Revenue	$ 87,030	$ 105,318	$ 169,404	$ 207,893
Cost of revenue	57,778	63,008	113,625	121,903
Gross margin	29,252	42,310	55,779	85,990
Expenses:
Selling, general and administrative	23,021	20,854	46,588	42,426
Depreciation and amortization	2,797	2,501	5,473	4,785
Research and development	1,670	1,280	3,242	2,306
Impairment of inventory and rental equipment	20,372	0	20,372	0
Total expenses	47,860	24,635	75,675	49,517
Income (loss) from operations	(18,608)	17,675	(19,896)	36,473
Other income (expense):
Interest expense	(420)	(381)	(828)	(836)
Other income (expense), net	(2)	(272)	(227)	(218)
Total other income (expense)	(422)	(653)	(1,055)	(1,054)
Income (loss) before income taxes	(19,030)	17,022	(20,951)	35,419
Income tax benefit (expense)	6,483	(5,981)	6,889	(12,361)
Net income (loss)	$ (12,547)	$ 11,041	$ (14,062)	$ 23,058
Earnings (loss) per common share:
Basic earnings (loss) per common share (in dollars per share)	$ (0.23)	$ 0.20	$ (0.26)	$ 0.42
Diluted earnings (loss) per common share (in dollars per share)	$ (0.23)	$ 0.20	$ (0.26)	$ 0.42
Weighted average common shares:
Weighted average common shares used in computing basic earnings (loss) per common share	54,264	54,645	54,356	54,299
Weighted average common shares used in computing diluted earnings (loss) per common share	54,264	55,533	54,356	55,473

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (12,547)	$ 11,041	$ (14,062)	$ 23,058
Other comprehensive income (loss):
Foreign currency translation adjustment	76	178	(164)	29
Comprehensive income (loss)	$ (12,471)	$ 11,219	$ (14,226)	$ 23,087

Unaudited Consolidated Stateme6

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (14,062)	$ 23,058
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Impairment of inventory and rental equipment	20,372	0
Depreciation and amortization	9,181	8,814
Amortization of deferred financing costs	173	148
Gain on sale of assets	(2,023)	(1,389)
Stock compensation expense	6,910	4,756
Deferred income tax benefit	(9,315)	(446)
Excess tax benefit related to share-based awards	(2,149)	(3,373)
Changes in current assets and liabilities:
Accounts receivable, net	22,158	(549)
Inventories	(16,474)	(18,828)
Income taxes receivable	(947)	0
Other current assets	3,864	(5,323)
Accounts payable	(6,045)	10,737
Accrued liabilities	(1,038)	(683)
Income taxes payable	842	1,540
Interest payable	13	(22)
Net cash provided by operating activities	11,460	18,440
Cash flows from investing activities:
Capital expenditures	(8,963)	(9,245)
Proceeds from sale of assets	2,188	1,982
Payments for acquisitions, net of cash acquired	(1,250)	(5,704)
Purchase of patents and other intangible assets	(292)	(595)
Net cash used in investing activities	(8,317)	(13,562)
Cash flows from financing activities:
Repayments of indebtedness	(6,571)	(6,720)
Borrowings on revolving credit facility	204,150	204,750
Repayments on revolving credit facility	(189,461)	(203,226)
Debt issuance costs	(10)	(127)
Excess tax benefit related to share-based awards	2,149	3,373
Purchase of treasury stock related to share-based awards	(5,339)	(5,961)
Proceeds from sale of common stock	543	505
Repurchase of common stock	(7,260)	0
Proceeds from exercise of stock options	22	450
Proceeds from exercise of stock warrants	0	1,545
Proceeds from noncontrolling interest	7	0
Net cash used in financing activities	(1,770)	(5,411)
Effect of changes in exchange rates on cash and cash equivalents	(164)	29
Net increase (decrease) in cash and cash equivalents	1,209	(504)
Cash and cash equivalents at the beginning of period	1,266	2,730
Cash and cash equivalents at the end of period	$ 2,475	$ 2,226

Unaudited Consolidated Stateme7

Unaudited Consolidated Statement of Equity - 6 months ended Jun. 30, 2015 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Noncontrolling Interests [Member]
Beginning balance at Dec. 31, 2014	$ 306,354	$ 5	$ (495)	$ 254,233	$ (502)	$ 52,762	$ 351
Beginning balance, shares at Dec. 31, 2014		54,634	449
Increase (Decrease) in Equity [Roll Forward]
Net income (loss)	(14,062)					(14,062)
Foreign currency translation adjustment	(164)				(164)
Stock issued under employee stock purchase plan	543			543
Stock issued in payment of stock purchase plan, shares			(41)
Stock options exercised	1,149	$ 1		1,148
Stock options exercised, shares		736
Stock surrendered for exercise of stock options	(1,126)		$ (1,126)
Stock surrendered for exercise of stock options, shares			88
Restricted stock granted, shares		488
Restricted stock forfeited, shares			20
Treasury stock purchased	(5,339)		$ (5,339)
Treasury stock purchased, shares			395
Stock compensation expense	6,910			6,910
Excess tax benefit related to share-based awards	2,149			2,149
Investment in Flotek Gulf, LLC and Flotek Gulf Research, LLC	7						7
Stock issued in IAL acquisition	1,014			1,014
Stock issued in IAL acquisition, shares		60
Repurchase of common stock	(7,260)		$ (7,260)
Repurchase of common stock, shares			547
Ending balance at Jun. 30, 2015	$ 290,175	$ 6	$ (14,220)	$ 265,997	$ (666)	$ 38,700	$ 358
Ending balance, shares at Jun. 30, 2015		55,918	1,458

Organization and Significant Ac

Organization and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Significant Accounting Policies	Organization and Significant Accounting Policies Organization and Nature of Operations Flotek Industries, Inc. (“Flotek” or the “Company”) is a global, diversified, technology-driven supplier of energy chemistries and consumer and industrial chemistries and is a global developer and supplier of drilling, completion and production technologies and related services. Flotek’s strategic focus, and that of its diversified subsidiaries (collectively referred to as the “Company”), includes energy related chemistry technologies, drilling and production technologies, and consumer and industrial chemistry technologies. Within energy technologies, the Company provides oilfield specialty chemistries and logistics, downhole drilling tools and production related tools used in the energy and mining industries. Flotek’s products and services enable customers to drill wells more efficiently, to realize increased production from both new and existing wells and to decrease future well operating costs. Major customers include leading oilfield service providers, pressure-pumping service companies, onshore and offshore drilling contractors, and major and independent oil and gas exploration and production companies. Within consumer and industrial chemistry technologies, the Company provides products for the flavor and fragrance industry and the industrial chemical industry. Major customers include food and beverage companies, fragrance companies, and companies providing household and industrial cleaning products. The Company is headquartered in Houston, Texas, with operating locations in Florida, Louisiana, New Mexico, North Dakota, Oklahoma, Colorado, Pennsylvania, Texas, Utah, Wyoming, Canada, the Netherlands, and the Middle East. Flotek’s products are marketed both domestically and internationally, with international presence and/or representation in over 20 countries. Flotek was initially incorporated under the laws of the Province of British Columbia on May 17, 1985. On October 23, 2001, Flotek changed its corporate domicile to the state of Delaware. Basis of Presentation The accompanying Unaudited Consolidated Financial Statements and accompanying footnotes (collectively the “Financial Statements”) reflect all adjustments, in the opinion of management, necessary for fair presentation of the financial condition and results of operations for the periods presented. All such adjustments are normal and recurring in nature. The Financial Statements, including selected notes, have been prepared in accordance with applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting and do not include all information and disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for comprehensive financial statement reporting. These interim Financial Statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (the “Annual Report”). A copy of the Annual Report is available on the SEC’s website, www.sec.gov , under the Company’s ticker symbol (“FTK”) or on Flotek’s website, www.flotekind.com . The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of the results to be expected for the year ending December 31, 2015 . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and reported amounts of revenue and expenses. Actual results could differ from these estimates. Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassifications did not impact net income.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements (a) Application of New Accounting Standards Effective January 1, 2015, the Company adopted the accounting guidance in Accounting Standards Update (“ASU”) No. 2014-08, “ Presentation of Financial Statements and Property, Plant, and Equipment - Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which amends the definition of a discontinued operation by raising the threshold for a disposal to qualify as discontinued operations. The ASU will also require entities to provide additional disclosures about discontinued operations as well as disposal transactions that do not meet the discontinued operations criteria. Implementation of this standard did not have a material effect on the consolidated financial statements. Effective January 1, 2015, the Company adopted the accounting guidance in ASU No. 2014-12, “ Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” The ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Implementation of this standard did not have a material effect on the consolidated financial statements or the Company’s current awards under its existing stock-based compensation plans. (b) New Accounting Requirements and Disclosures In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, “ Revenue from Contracts with Customers .” The ASU will supersede most of the existing revenue recognition requirements in U.S. GAAP and will require entities to recognize revenue at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. The new standard also requires significantly expanded disclosures regarding the qualitative and quantitative information of an entity’s nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In July 2015, the FASB deferred the effective date by one year to annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted, but not before the original effective date of reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact the pronouncement will have on the consolidated financial statements and related disclosures. In January 2015, the FASB issued ASU No. 2015-01, “ Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” This ASU eliminates from generally accepted accounting principles (“GAAP”) the concept of extraordinary items and the need for an entity to separately classify, present, and disclose extraordinary events and transactions, while retaining certain presentation and disclosure guidance for items that are unusual in nature or occur infrequently. The pronouncement is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period and may be applied retrospectively, with early application permitted. The Company is currently evaluating the impact the pronouncement will have on the consolidated financial statements and related disclosures. In February 2015, the FASB issued ASU No. 2015-02, “ Amendments to the Consolidation Analysis . ” The amendment eliminates the deferral of certain consolidation standards for entities considered to be investment companies and modifies the consolidation analysis performed on certain types of legal entities. The pronouncement is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period and may be applied retrospectively, with early application permitted. The Company is currently evaluating the impact the pronouncement will have on the consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-03, “ Simplifying the Presentation of Debt Issuance Costs . ” The accounting guidance requires that debt issuance costs related to a recognized debt liability be reported on the Consolidated Statements of Financial Condition as a direct deduction from the carrying amount of that debt liability. The pronouncement is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period with early application permitted for financial statements that have not been previously issued. The Company is currently evaluating the impact the pronouncement will have on the consolidated financial statements and related disclosures.

Impairment of Inventory and Ren

Impairment of Inventory and Rental Equipment	6 Months Ended
	Jun. 30, 2015
Asset Impairment Charges [Abstract]
Impairment of Inventory and Rental Equipment	Impairment of Inventory and Rental Equipment During the three months ended June 30, 2015 , as a result of decreased rig activity and its impact on management’s expectations for future market activity, the Company refocused the Drilling Technologies segment to businesses and markets that have the best opportunity for profitable growth in the future. In addition, the Company has shifted the focus of the Production Technologies segment to oil production markets and away from coal bed methane markets. As a result of these changes in focus and projected declines in asset utilization, the Company recorded a pre-tax impairment charge as follows (in thousands): Drilling Technologies: Inventories $ 17,241 Rental equipment 2,327 Production Technologies: Inventories 804 Total impairment $ 20,372

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Acquisitions	Acquisitions On January 27, 2015 , the Company acquired 100% of the assets of International Artificial Lift, LLC (“IAL”) for $1.3 million in cash consideration and 60,024 shares of the Company’s common stock. IAL is a development-stage company that specializes in the design, manufacturing and service of next-generation hydraulic pumping units that serve to increase and maximize production for oil and natural gas wells. On April 1, 2014 , the Company acquired 100% of the membership interests in SiteLark, LLC (“SiteLark”) for $0.4 million in cash consideration and 5,327 shares of the Company’s common stock. SiteLark provides reservoir engineering and modeling services for a variety of hydrocarbon applications. Its services include proprietary software which assists engineers with reservoir simulation, reservoir engineering and waterflood optimization. On January 1, 2014 , the Company acquired 100% of the membership interests in Eclipse IOR Services, LLC (“EOGA”), a leading Enhanced Oil Recovery (“EOR”) design and injection firm, for $5.3 million in cash consideration, net of cash received, and 94,354 shares of the Company’s Common Stock. EOGA’s enhanced oil recovery processes and its use of polymers to improve the performance of EOR projects has been combined with the Company’s existing EOR products and services.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Supplemental cash flow information is as follows (in thousands): Six months ended June 30, 2015 2014 Supplemental non-cash investing and financing activities: Value of common stock issued in acquisitions $ 1,014 $ 1,900 Value of common stock issued in payment of accrued liability — 600 Exercise of stock options by common stock surrender 1,126 1,005 Supplemental cash payment information: Interest paid $ 641 $ 710 Income taxes paid 2,549 13,884

Revenue

Revenue	6 Months Ended
	Jun. 30, 2015
Revenue [Abstract]
Revenue	Revenue The Company differentiates revenue and cost of revenue based on whether the source of revenue is attributable to products, rentals or services. Revenue and cost of revenue by source are as follows (in thousands): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Revenue: Products $ 74,522 $ 82,302 $ 140,682 $ 164,707 Rentals 8,747 15,065 20,571 28,989 Services 3,761 7,951 8,151 14,197 $ 87,030 $ 105,318 $ 169,404 $ 207,893 Cost of revenue: Products $ 50,189 $ 49,995 $ 95,850 $ 97,731 Rentals 3,687 7,654 9,943 14,165 Services 2,089 3,265 4,124 5,978 Depreciation 1,813 2,094 3,708 4,029 $ 57,778 $ 63,008 $ 113,625 $ 121,903

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are as follows (in thousands): June 30, 2015 December 31, 2014 Raw materials $ 46,149 $ 50,195 Work-in-process 3,043 3,129 Finished goods 35,409 32,634 Inventories $ 84,601 $ 85,958

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment are as follows (in thousands): June 30, 2015 December 31, 2014 Land $ 7,140 $ 6,780 Buildings and leasehold improvements 34,332 33,765 Machinery, equipment and rental tools 83,997 80,731 Equipment in progress 4,467 7,299 Furniture and fixtures 2,658 2,528 Transportation equipment 7,509 6,566 Computer equipment and software 10,519 7,605 Property and equipment 150,622 145,274 Less accumulated depreciation (63,626 ) (59,163 ) Property and equipment, net $ 86,996 $ 86,111 Depreciation expense, including expense recorded in cost of revenue, totaled $3.4 million and $3.4 million for the three months ended June 30, 2015 and 2014 , respectively, and $6.8 million and $6.4 million for the six months ended June 30, 2015, and 2014 , respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets During the six months ended June 30, 2015 , the Company recognized $1.7 million of goodwill within the Production Technologies reporting unit in connection with the acquisition of IAL. There were no impairments of goodwill recognized during the three and six months ended June 30, 2015 and 2014 . Changes in the carrying value of goodwill for each reporting unit are as follows (in thousands): Energy Chemistry Technologies Consumer and Industrial Chemistry Technologies Teledrift ® Production Technologies Total Balance at December 31, 2014 $ 36,318 $ 19,480 $ 15,333 $ — $ 71,131 Addition upon acquisition of IAL — — — 1,689 1,689 Balance at June 30, 2015 $ 36,318 $ 19,480 $ 15,333 $ 1,689 $ 72,820 Finite lived intangible assets acquired are amortized on a straight-line basis over two to 20 years . Amortization of finite lived intangible assets acquired totaled $1.2 million and $1.2 million for the three months ended June 30, 2015 and 2014 , respectively, and $2.4 million and $2.4 million for the six months ended June 30, 2015, and 2014 , respectively. Amortization of deferred financing costs was $0.1 million for the three months ended June 30, 2015 , and $0.2 million and $0.1 million for the six months ended June 30, 2015, and 2014 , respectively. Amortization of deferred financing costs was not significant for the three months ended June 30, 2014.

Long-Term Debt and Credit Facil

Long-Term Debt and Credit Facility	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt and Credit Facility	Long-Term Debt and Credit Facility Long-term debt is as follows (in thousands): June 30, 2015 December 31, 2014 Long-term debt: Borrowings under revolving credit facility $ 23,189 $ 8,500 Term loan 28,970 35,541 Total long-term debt 52,159 44,041 Less current portion of long-term debt (30,332 ) (18,643 ) Long-term debt, less current portion $ 21,827 $ 25,398 Credit Facility On May 10, 2013 , the Company and certain of its subsidiaries (the “Borrowers”) entered into an Amended and Restated Revolving Credit, Term Loan and Security Agreement (the “Credit Facility”) with PNC Bank, National Association (“PNC Bank”). The Company may borrow under the Credit Facility for working capital, permitted acquisitions, capital expenditures and other corporate purposes. Under terms of the Credit Facility, as amended, the Company (a) may borrow up to $75 million under a revolving credit facility and (b) has borrowed $50 million under a term loan. The Credit Facility is secured by substantially all of the Company’s domestic real and personal property, including accounts receivable, inventory, land, buildings, equipment and other intangible assets. The Credit Facility contains customary representations, warranties, and both affirmative and negative covenants. The Credit Facility includes a financial covenant to maintain a fixed charge coverage ratio of 1.10 to 1.00 . The numerator of the ratio includes (a) Adjusted EBITDA (consolidated earnings before interest, taxes, depreciation and amortization adjusted to exclude stock compensation expense and impairment expense of up to $23 million in 2015) minus (b) unfunded capital expenditures (excluding up to $ 7.5 million in 2015 and $5.0 million in 2016 associated with the construction of the Company’s Global Research and Innovation facility) and (c) cash taxes paid. The Credit Facility also includes a financial covenant to maintain a ratio of funded debt to Adjusted EBITDA of not greater than 4.0 to 1.0 , and an annual limit on capital expenditures of approximately $35 million . The Credit Facility restricts the payment of cash dividends on common stock. In the event of default, PNC Bank may accelerate the maturity date of any outstanding amounts borrowed under the Credit Facility. The Credit Facility includes a provision that 25% of EBITDA minus cash paid for taxes, dividends, debt payments and unfunded capital expenditures, not to exceed $3.0 million for any year, be paid within 60 days of the fiscal year end. For the year ended December 31, 2014, the excess cash flow exceeded $3.0 million . Consequently, the Company paid $3.0 million on its term loan balance to PNC Bank on March 2, 2015. This amount was classified as current debt at December 31, 2014 . Each of the Company’s domestic subsidiaries is fully obligated for Credit Facility indebtedness as a Borrower or as a guarantor. (a) Revolving Credit Facility Under the revolving credit facility, the Company may borrow up to $75 million through May 10, 2018 . This includes a sublimit of $10 million that may be used for letters of credit. The revolving credit facility is secured by substantially all the Company’s domestic accounts receivable and inventory. At June 30, 2015 , eligible accounts receivable and inventory securing the revolving credit facility provided availability of $72.9 million under the revolving credit facility. Available borrowing capacity, net of outstanding borrowings, was $49.7 million at June 30, 2015 . The interest rate on advances under the revolving credit facility varies based on the level of borrowing under the Credit Facility. Rates range (a) between PNC Bank’s base lending rate plus 0.5% to 1.0% or (b) between the London Interbank Offered Rate (LIBOR) plus 1.5% to 2.0% . PNC Bank’s base lending rate was 3.25% at June 30, 2015 . The Company is required to pay a monthly facility fee of 0.25% per annum, on any unused amount under the commitment based on daily averages. At June 30, 2015 , $23.2 million was outstanding under the revolving credit facility, with $3.2 million borrowed as base rate loans at an interest rate of 3.75% and $20.0 million borrowed as LIBOR loans at an interest rate of 1.69% . Borrowing under the revolving credit agreement is classified as current debt as a result of the required lockbox arrangement and the subjective acceleration clause. (b) Term Loan The Company increased borrowing to $50 million under the term loan on May 10, 2013 . Monthly principal payments of $0.6 million are required. The unpaid balance of the term loan is due May 10, 2018 . Prepayments are permitted, and may be required in certain circumstances. Amounts repaid under the term loan may not be reborrowed. The term loan is secured by substantially all of the Company’s domestic land, buildings, equipment and other intangible assets. The interest rate on the term loan varies based on the level of borrowing under the Credit Facility. Rates range (a) between PNC Bank’s base lending rate plus 1.25% to 1.75% or (b) between LIBOR plus 2.25% to 2.75% . At June 30, 2015 , $29.0 million was outstanding under the term loan, with $1.0 million borrowed as base rate loans at an interest rate of 4.50% and $28.0 million borrowed as LIBOR loans at an interest rate of 2.44% .

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding combined with dilutive common share equivalents outstanding, if the effect is dilutive. Potentially dilutive securities were excluded from the calculation of diluted earnings (loss) per share for the three and six months ended June 30, 2015 , since including them would have an anti-dilutive effect on earnings (loss) per share due to the net loss incurred during the period. Securities convertible into shares of common stock that were not considered in the diluted earnings (loss) per share calculation were 0.8 million stock options and 0.4 million restricted stock units for the three months ended June 30, 2015 , and were 0.8 million stock options and 0.4 million restricted stock units for the six months ended June 30, 2015 . Basic and diluted earnings (loss) per common share are as follows (in thousands, except per share data): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Net income (loss) - Basic and Diluted $ (12,547 ) $ 11,041 $ (14,062 ) $ 23,058 Weighted average common shares outstanding - Basic 54,264 54,645 54,356 54,299 Assumed conversions: Incremental common shares from warrants — — — 243 Incremental common shares from stock options — 878 — 916 Incremental common shares from restricted stock units — 10 — 15 Weighted average common shares outstanding - Diluted 54,264 55,533 54,356 55,473 Basic earnings (loss) per common share $ (0.23 ) $ 0.20 $ (0.26 ) $ 0.42 Diluted earnings (loss) per common share $ (0.23 ) $ 0.20 $ (0.26 ) $ 0.42

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company categorizes financial assets and liabilities into the three levels of the fair value hierarchy. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value and bases categorization within the hierarchy on the lowest level of input that is available and significant to the fair value measurement. • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Observable inputs other than Level 1, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3 — Significant unobservable inputs that are supported by little or no market activity or that are based on the reporting entity’s assumptions about the inputs. Fair Value of Other Financial Instruments The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, approximate fair value due to the short-term nature of these accounts. The Company had no cash equivalents at June 30, 2015 , or December 31, 2014 . The carrying value and estimated fair value of the Company’s long-term debt are as follows (in thousands): June 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Term loan $ 28,970 $ 28,970 $ 35,541 $ 35,541 Borrowings under revolving credit facility 23,189 23,189 8,500 8,500 The carrying value of the term loan and borrowings under the revolving credit facility approximate their fair value because the interest rates are variable. Assets Measured at Fair Value on a Nonrecurring Basis The Company’s non-financial assets, including property and equipment, goodwill and other intangible assets are measured at fair value on a non-recurring basis and are subject to fair value adjustment in certain circumstances. During the three months ended June 30, 2015 , the Company recorded an impairment of $ 2.3 million relating to rental equipment held and used. Loss on impairment is reported in operating expenses. No impairments of goodwill or other intangible assets were recognized during the three and six months ended June 30, 2015, and 2014 .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s corporate organizational structure requires the filing of two separate consolidated U.S. Federal income tax returns. Taxable income of one group cannot be offset by tax attributes, including net operating losses, of the other group. A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Federal statutory tax rate 35.0 % 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefit (0.5 ) 2.2 0.1 2.2 Non-US income taxed at different rates 2.9 — 0.4 — Non-deductible expenses (2.9 ) 0.6 (2.1 ) 0.4 Domestic production activities deduction 0.6 (2.7 ) 0.4 (2.7 ) Other (1.0 ) — (0.9 ) — Effective income tax rate 34.1 % 35.1 % 32.9 % 34.9 % The change in the effective income tax rate for the three and six months ended June 30, 2015 , compared to the three and six months ended June 30, 2014 , was primarily due to the mix of pre-tax profit and loss between domestic and international taxing jurisdictions and the impact of non-deductible expenses and the domestic production activities deduction. The Company plans to permanently reinvest profits from international operations into opportunities to expand the Company’s international presence. Deferred taxes are presented in the balance sheets as follows (in thousands): June 30, 2015 December 31, 2014 Current deferred tax assets $ 2,602 $ 2,696 Non-current deferred tax assets 18,871 12,907 Non-current deferred tax liabilities (22,537 ) (25,982 ) Net deferred tax assets (liabilities) $ (1,064 ) $ (10,379 )

Convertible Preferred Stock and

Convertible Preferred Stock and Stock Warrants	6 Months Ended
	Jun. 30, 2015
Warrants and Rights Note Disclosure [Abstract]
Convertible Preferred Stock and Stock Warrants	Convertible Preferred Stock and Stock Warrants In August 2009, the Company sold convertible preferred stock with detachable warrants to purchase shares of the Company’s common stock. In February 2011, the Company exercised its contractual right to mandatorily convert all outstanding shares of convertible preferred stock into shares of common stock. Currently, the Company has no issued or outstanding shares of preferred stock. On February 7, 2014, warrants were exercised to purchase 1,277,250 shares of the Company’s common stock at $1.21 per share. The Company received cash proceeds of $1.5 million in connection with the warrants exercised. Following the exercise, the Company no longer has any outstanding warrants.

Stock Repurchase Program

Stock Repurchase Program	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stock Repurchase Program	Stock Repurchase Program In November 2012, the Company’s Board of Directors authorized the repurchase of up to $25 million of the Company’s common stock. Repurchases may be made in the open market or through privately negotiated transactions. During the three months ended June 30, 2015 , the Company repurchased 367,129 shares of its outstanding common stock on the open market at a cost of $4.6 million , inclusive of transaction costs, or an average price of $12.55 per share. During the six months ended June 30, 2015 , the Company repurchased a total of 547,319 shares of its outstanding common stock on the open market at a cost of $7.3 million , inclusive of transaction costs, or an average price of $ 13.26 per share. In June 2015, the Company’s Board of Directors authorized the repurchase of up to an additional $50 million of the Company’s common stock. Repurchases may be made in open market or through privately negotiated transactions. Through June 30, 2015 , the Company has not repurchased any of its common stock under this authorization. As of June 30, 2015 , the Company has $57.3 million remaining and available to to repurchase shares under its share repurchase programs.

Business Segment, Geographic an

Business Segment, Geographic and Major Customer Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Business Segment, Geographic and Major Customer Information	Business Segment, Geographic and Major Customer Information Segment Information Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by chief operating decision-makers in deciding how to allocate resources and assess performance. The operations of the Company are categorized into four reportable segments: Energy Chemistry Technologies (previously referred to as Energy Chemical Technologies), Consumer and Industrial Chemistry Technologies (previously referred to as Consumer and Industrial Chemical Technologies), Drilling Technologies and Production Technologies. • Energy Chemistry Technologies designs, develops, manufactures, packages and markets specialty chemistries used in oil and natural gas well drilling, cementing, completion, stimulation and production. In addition, the Company’s chemistries are used in specialized enhanced and improved oil recovery markets. Activities in this segment also include construction and management of automated material handling facilities and management of loading facilities and blending operations for oilfield services companies. • Consumer and Industrial Chemistry Technologies designs, develops and manufactures products that are sold to companies in the flavor and fragrance industries and the specialty chemical industry. These technologies are used by beverage and food companies, fragrance companies, and companies providing household and industrial cleaning products. • Drilling Technologies rents, sells, inspects, manufactures and markets downhole drilling equipment used in energy, mining, water well and industrial drilling activities. • Production Technologies assembles and markets production-related equipment, including the Petrovalve TM product line of rod pump components, electric submersible pumps, gas separators, valves and services that support natural gas and oil production activities. The Company evaluates performance based upon a variety of criteria. The primary financial measure is segment operating income. Various functions, including certain sales and marketing activities and general and administrative activities, are provided centrally by the corporate office. Costs associated with corporate office functions, other corporate income and expense items, and income taxes, are not allocated to reportable segments. Summarized financial information of the reportable segments is as follows (in thousands): As of and for the three months ended June 30, Energy Chemistry Technologies Consumer and Industrial Chemistry Technologies Drilling Technologies Production Technologies Corporate and Other Total 2015 Net revenue from external customers $ 56,472 $ 15,477 $ 12,334 $ 2,747 $ — $ 87,030 Gross margin 20,426 4,126 4,103 597 — 29,252 Income (loss) from operations 11,892 2,683 (21,300 ) (1,596 ) (10,287 ) (18,608 ) Depreciation and amortization 1,174 549 2,218 198 471 4,610 Total assets 149,767 98,251 114,481 25,544 15,350 403,393 Capital expenditures 2,075 6 620 138 527 3,366 2014 Net revenue from external customers $ 62,589 $ 12,607 $ 27,241 $ 2,881 $ — $ 105,318 Gross margin 27,432 2,893 10,762 1,223 — 42,310 Income (loss) from operations 19,162 972 4,200 421 (7,080 ) 17,675 Depreciation and amortization 1,095 549 2,493 92 366 4,595 Total assets 140,028 97,935 139,095 15,922 15,241 408,221 Capital expenditures 1,418 17 2,025 50 747 4,257 As of and for the six months ended June 30, Energy Chemistry Technologies Consumer and Industrial Chemistry Technologies Drilling Technologies Production Technologies Corporate and Other Total 2015 Net revenue from external customers $ 103,115 $ 28,940 $ 31,028 $ 6,321 $ — $ 169,404 Gross margin 36,526 7,833 10,094 1,326 — 55,779 Income (loss) from operations 18,713 5,064 (21,937 ) (2,135 ) (19,601 ) (19,896 ) Depreciation and amortization 2,378 1,102 4,537 323 841 9,181 Total assets 149,767 98,251 114,481 25,544 15,350 403,393 Capital expenditures 4,443 28 2,744 776 972 8,963 2014 Net revenue from external customers $ 124,966 $ 25,638 $ 52,142 $ 5,147 $ — $ 207,893 Gross margin 56,650 6,927 20,550 1,863 — 85,990 Income (loss) from operations 40,785 3,307 7,517 343 (15,479 ) 36,473 Depreciation and amortization 2,162 982 4,930 163 577 8,814 Total assets 140,028 97,935 139,095 15,922 15,241 408,221 Capital expenditures 2,804 30 5,321 110 980 9,245 Geographic Information Revenue by country is based on the location where services are provided and products are used. No individual country other than the United States (“U.S.”) accounted for more than 10% of revenue. Revenue by geographic location is as follows (in thousands): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 U.S. $ 73,250 $ 91,691 $ 137,446 $ 179,022 Other countries 13,780 13,627 31,958 28,871 Total $ 87,030 $ 105,318 $ 169,404 $ 207,893 Long-lived assets held in countries other than the U.S. are not considered material to the consolidated financial statements. Major Customers Revenue from major customers, as a percentage of consolidated revenue, is as follows: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Customer A 19.5 % * 15.8 % * Customer B 12.1 % 17.7 % 11.2 % 19.2 % * This customer did not account for more than 10% of revenue during the period. Over 96% of the revenue from these customers were for sales in the Energy Chemistry Technologies segment.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company is subject to routine litigation and other claims that arise in the normal course of business. Management is not aware of any pending or threatened lawsuits or proceedings that are expected to have a material effect on the Company’s financial position, results of operations or liquidity. EPA Environmental Proceeding On January 9, 2015 , FC Pro, LLC (“FC Pro”), a wholly-owned subsidiary of the Company, received a letter and proposed consent agreement and final order from the United States Environmental Protection Agency (“EPA”) concerning alleged violations of the federal hazardous waste regulations at FC Pro’s specialty chemical blending facility in Waller, Texas. Specifically, EPA alleged that FC Pro failed to comply with certain notification, operating, and reporting requirements applicable to generators or large quantity generators of hazardous waste. FC Pro has resolved the alleged violations pursuant to a consent agreement and final order dated effective as of April 22, 2015, under which it did not admit or deny the allegations and has paid an administrative penalty of $ 410,868 , obtained an EPA identification number, and developed certain specified operating procedures. Since this enforcement case was initiated, FC Pro has made changes to its operating practices at its Waller facility that it believes has resulted in it no longer generating hazardous waste at that facility. The amount of the civil penalty was recorded as selling, general and administrative expense during the three months ended March 31, 2015 . Concentrations and Credit Risk The majority of the Company’s revenue is derived from the oil and gas industry. Customers include major oilfield services companies, major integrated oil and natural gas companies, independent oil and natural gas companies, pressure pumping service companies and state-owned national oil companies. This concentration of customers in one industry increases credit and business risks. The Company is subject to concentrations of credit risk within trade accounts receivable as the Company does not generally require collateral as support for trade receivables. In addition, the majority of the Company’s cash is maintained at a major financial institution and balances often exceed insurable amounts.

Organization and Significant 25

Organization and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Unaudited Consolidated Financial Statements and accompanying footnotes (collectively the “Financial Statements”) reflect all adjustments, in the opinion of management, necessary for fair presentation of the financial condition and results of operations for the periods presented. All such adjustments are normal and recurring in nature. The Financial Statements, including selected notes, have been prepared in accordance with applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting and do not include all information and disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for comprehensive financial statement reporting. These interim Financial Statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (the “Annual Report”). A copy of the Annual Report is available on the SEC’s website, www.sec.gov , under the Company’s ticker symbol (“FTK”) or on Flotek’s website, www.flotekind.com . The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of the results to be expected for the year ending December 31, 2015 .
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and reported amounts of revenue and expenses. Actual results could differ from these estimates.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassifications did not impact net income.
Application of New Accounting Standards	Application of New Accounting Standards Effective January 1, 2015, the Company adopted the accounting guidance in Accounting Standards Update (“ASU”) No. 2014-08, “ Presentation of Financial Statements and Property, Plant, and Equipment - Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which amends the definition of a discontinued operation by raising the threshold for a disposal to qualify as discontinued operations. The ASU will also require entities to provide additional disclosures about discontinued operations as well as disposal transactions that do not meet the discontinued operations criteria. Implementation of this standard did not have a material effect on the consolidated financial statements. Effective January 1, 2015, the Company adopted the accounting guidance in ASU No. 2014-12, “ Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” The ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Implementation of this standard did not have a material effect on the consolidated financial statements or the Company’s current awards under its existing stock-based compensation plans. (b) New Accounting Requirements and Disclosures In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, “ Revenue from Contracts with Customers .” The ASU will supersede most of the existing revenue recognition requirements in U.S. GAAP and will require entities to recognize revenue at an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer. The new standard also requires significantly expanded disclosures regarding the qualitative and quantitative information of an entity’s nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In July 2015, the FASB deferred the effective date by one year to annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted, but not before the original effective date of reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact the pronouncement will have on the consolidated financial statements and related disclosures. In January 2015, the FASB issued ASU No. 2015-01, “ Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” This ASU eliminates from generally accepted accounting principles (“GAAP”) the concept of extraordinary items and the need for an entity to separately classify, present, and disclose extraordinary events and transactions, while retaining certain presentation and disclosure guidance for items that are unusual in nature or occur infrequently. The pronouncement is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period and may be applied retrospectively, with early application permitted. The Company is currently evaluating the impact the pronouncement will have on the consolidated financial statements and related disclosures. In February 2015, the FASB issued ASU No. 2015-02, “ Amendments to the Consolidation Analysis . ” The amendment eliminates the deferral of certain consolidation standards for entities considered to be investment companies and modifies the consolidation analysis performed on certain types of legal entities. The pronouncement is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period and may be applied retrospectively, with early application permitted. The Company is currently evaluating the impact the pronouncement will have on the consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-03, “ Simplifying the Presentation of Debt Issuance Costs . ” The accounting guidance requires that debt issuance costs related to a recognized debt liability be reported on the Consolidated Statements of Financial Condition as a direct deduction from the carrying amount of that debt liability. The pronouncement is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period with early application permitted for financial statements that have not been previously issued. The Company is currently evaluating the impact the pronouncement will have on the consolidated financial statements and related disclosures.

Impairment of Inventory and R26

Impairment of Inventory and Rental Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Asset Impairment Charges [Abstract]
Schedule of asset impairment charges	as a result of decreased rig activity and its impact on management’s expectations for future market activity, the Company refocused the Drilling Technologies segment to businesses and markets that have the best opportunity for profitable growth in the future. In addition, the Company has shifted the focus of the Production Technologies segment to oil production markets and away from coal bed methane markets. As a result of these changes in focus and projected declines in asset utilization, the Company recorded a pre-tax impairment charge as follows (in thousands): Drilling Technologies: Inventories $ 17,241 Rental equipment 2,327 Production Technologies: Inventories 804 Total impairment $ 20,372

Supplemental Cash Flow Inform27

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Components of supplemental cash flow information	Supplemental cash flow information is as follows (in thousands): Six months ended June 30, 2015 2014 Supplemental non-cash investing and financing activities: Value of common stock issued in acquisitions $ 1,014 $ 1,900 Value of common stock issued in payment of accrued liability — 600 Exercise of stock options by common stock surrender 1,126 1,005 Supplemental cash payment information: Interest paid $ 641 $ 710 Income taxes paid 2,549 13,884

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2015
Revenue [Abstract]
Differentiation of revenue and cost of revenue	Revenue and cost of revenue by source are as follows (in thousands): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Revenue: Products $ 74,522 $ 82,302 $ 140,682 $ 164,707 Rentals 8,747 15,065 20,571 28,989 Services 3,761 7,951 8,151 14,197 $ 87,030 $ 105,318 $ 169,404 $ 207,893 Cost of revenue: Products $ 50,189 $ 49,995 $ 95,850 $ 97,731 Rentals 3,687 7,654 9,943 14,165 Services 2,089 3,265 4,124 5,978 Depreciation 1,813 2,094 3,708 4,029 $ 57,778 $ 63,008 $ 113,625 $ 121,903

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Components of Inventory	Inventories are as follows (in thousands): June 30, 2015 December 31, 2014 Raw materials $ 46,149 $ 50,195 Work-in-process 3,043 3,129 Finished goods 35,409 32,634 Inventories $ 84,601 $ 85,958

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Components of property and equipment	Property and equipment are as follows (in thousands): June 30, 2015 December 31, 2014 Land $ 7,140 $ 6,780 Buildings and leasehold improvements 34,332 33,765 Machinery, equipment and rental tools 83,997 80,731 Equipment in progress 4,467 7,299 Furniture and fixtures 2,658 2,528 Transportation equipment 7,509 6,566 Computer equipment and software 10,519 7,605 Property and equipment 150,622 145,274 Less accumulated depreciation (63,626 ) (59,163 ) Property and equipment, net $ 86,996 $ 86,111

Goodwill and Other Intangible31

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the carrying value of goodwill	Changes in the carrying value of goodwill for each reporting unit are as follows (in thousands): Energy Chemistry Technologies Consumer and Industrial Chemistry Technologies Teledrift ® Production Technologies Total Balance at December 31, 2014 $ 36,318 $ 19,480 $ 15,333 $ — $ 71,131 Addition upon acquisition of IAL — — — 1,689 1,689 Balance at June 30, 2015 $ 36,318 $ 19,480 $ 15,333 $ 1,689 $ 72,820

Long-Term Debt and Credit Fac32

Long-Term Debt and Credit Facility (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Components of long-term debt	Long-term debt is as follows (in thousands): June 30, 2015 December 31, 2014 Long-term debt: Borrowings under revolving credit facility $ 23,189 $ 8,500 Term loan 28,970 35,541 Total long-term debt 52,159 44,041 Less current portion of long-term debt (30,332 ) (18,643 ) Long-term debt, less current portion $ 21,827 $ 25,398

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Components of basic and diluted earnings per common share	Basic and diluted earnings (loss) per common share are as follows (in thousands, except per share data): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Net income (loss) - Basic and Diluted $ (12,547 ) $ 11,041 $ (14,062 ) $ 23,058 Weighted average common shares outstanding - Basic 54,264 54,645 54,356 54,299 Assumed conversions: Incremental common shares from warrants — — — 243 Incremental common shares from stock options — 878 — 916 Incremental common shares from restricted stock units — 10 — 15 Weighted average common shares outstanding - Diluted 54,264 55,533 54,356 55,473 Basic earnings (loss) per common share $ (0.23 ) $ 0.20 $ (0.26 ) $ 0.42 Diluted earnings (loss) per common share $ (0.23 ) $ 0.20 $ (0.26 ) $ 0.42

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Carrying value and estimated fair value of long-term debt	The carrying value and estimated fair value of the Company’s long-term debt are as follows (in thousands): June 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Term loan $ 28,970 $ 28,970 $ 35,541 $ 35,541 Borrowings under revolving credit facility 23,189 23,189 8,500 8,500

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Reconciliation of effective tax rate to the U.S. federal statutory tax rate	A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Federal statutory tax rate 35.0 % 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefit (0.5 ) 2.2 0.1 2.2 Non-US income taxed at different rates 2.9 — 0.4 — Non-deductible expenses (2.9 ) 0.6 (2.1 ) 0.4 Domestic production activities deduction 0.6 (2.7 ) 0.4 (2.7 ) Other (1.0 ) — (0.9 ) — Effective income tax rate 34.1 % 35.1 % 32.9 % 34.9 %
Schedule of deferred tax assets and liabilities	Deferred taxes are presented in the balance sheets as follows (in thousands): June 30, 2015 December 31, 2014 Current deferred tax assets $ 2,602 $ 2,696 Non-current deferred tax assets 18,871 12,907 Non-current deferred tax liabilities (22,537 ) (25,982 ) Net deferred tax assets (liabilities) $ (1,064 ) $ (10,379 )

Business Segment, Geographic 36

Business Segment, Geographic and Major Customer Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Financial information regarding reportable segments	Summarized financial information of the reportable segments is as follows (in thousands): As of and for the three months ended June 30, Energy Chemistry Technologies Consumer and Industrial Chemistry Technologies Drilling Technologies Production Technologies Corporate and Other Total 2015 Net revenue from external customers $ 56,472 $ 15,477 $ 12,334 $ 2,747 $ — $ 87,030 Gross margin 20,426 4,126 4,103 597 — 29,252 Income (loss) from operations 11,892 2,683 (21,300 ) (1,596 ) (10,287 ) (18,608 ) Depreciation and amortization 1,174 549 2,218 198 471 4,610 Total assets 149,767 98,251 114,481 25,544 15,350 403,393 Capital expenditures 2,075 6 620 138 527 3,366 2014 Net revenue from external customers $ 62,589 $ 12,607 $ 27,241 $ 2,881 $ — $ 105,318 Gross margin 27,432 2,893 10,762 1,223 — 42,310 Income (loss) from operations 19,162 972 4,200 421 (7,080 ) 17,675 Depreciation and amortization 1,095 549 2,493 92 366 4,595 Total assets 140,028 97,935 139,095 15,922 15,241 408,221 Capital expenditures 1,418 17 2,025 50 747 4,257 As of and for the six months ended June 30, Energy Chemistry Technologies Consumer and Industrial Chemistry Technologies Drilling Technologies Production Technologies Corporate and Other Total 2015 Net revenue from external customers $ 103,115 $ 28,940 $ 31,028 $ 6,321 $ — $ 169,404 Gross margin 36,526 7,833 10,094 1,326 — 55,779 Income (loss) from operations 18,713 5,064 (21,937 ) (2,135 ) (19,601 ) (19,896 ) Depreciation and amortization 2,378 1,102 4,537 323 841 9,181 Total assets 149,767 98,251 114,481 25,544 15,350 403,393 Capital expenditures 4,443 28 2,744 776 972 8,963 2014 Net revenue from external customers $ 124,966 $ 25,638 $ 52,142 $ 5,147 $ — $ 207,893 Gross margin 56,650 6,927 20,550 1,863 — 85,990 Income (loss) from operations 40,785 3,307 7,517 343 (15,479 ) 36,473 Depreciation and amortization 2,162 982 4,930 163 577 8,814 Total assets 140,028 97,935 139,095 15,922 15,241 408,221 Capital expenditures 2,804 30 5,321 110 980 9,245
Revenue by geographic location	Revenue by geographic location is as follows (in thousands): Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 U.S. $ 73,250 $ 91,691 $ 137,446 $ 179,022 Other countries 13,780 13,627 31,958 28,871 Total $ 87,030 $ 105,318 $ 169,404 $ 207,893
Revenue by major customer	Revenue from major customers, as a percentage of consolidated revenue, is as follows: Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Customer A 19.5 % * 15.8 % * Customer B 12.1 % 17.7 % 11.2 % 19.2 %

Organization and Significant 37

Organization and Significant Accounting Policies (Details)	Jun. 30, 2015country
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries Flotek actively markets products and services, over 20 countries	20

Impairment of Inventory and R38

Impairment of Inventory and Rental Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Rental equipment	$ 2,300
Total	20,372	$ 0	$ 20,372	$ 0
Drilling Technologies [Member]
Segment Reporting Information [Line Items]
Inventories	17,241
Rental equipment	2,327
Production Technologies [Member]
Segment Reporting Information [Line Items]
Inventories	$ 804

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Jan. 27, 2015	Apr. 02, 2014	Jan. 02, 2014
IAL [Member]
Business Acquisition [Line Items]
Percent of assets acquired	100.00%
Consideration transferred, cash payments	$ 1.3
Consideration transferred, common stock issued, shares	60,024
SiteLark [Member]
Business Acquisition [Line Items]
Percent of membership interests acquired		100.00%
Consideration transferred, cash payments		$ 0.4
Consideration transferred, common stock issued, shares		5,327
EOGA [Member]
Business Acquisition [Line Items]
Percent of membership interests acquired			100.00%
Consideration transferred, cash payments			$ 5.3
Consideration transferred, common stock issued, shares			94,354

Supplemental Cash Flow Inform40

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Supplemental non-cash investing and financing activities:
Value of common stock issued in acquisitions	$ 1,014	$ 1,900
Value of common stock issued in payment of accrued liability	0	600
Exercise of stock options by common stock surrender	1,126	1,005
Supplemental cash payment information:
Interest paid	641	710
Income taxes paid	$ 2,549	$ 13,884

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenue:
Products	$ 74,522	$ 82,302	$ 140,682	$ 164,707
Rentals	8,747	15,065	20,571	28,989
Services	3,761	7,951	8,151	14,197
Total revenue	87,030	105,318	169,404	207,893
Cost of revenue:
Products	50,189	49,995	95,850	97,731
Rentals	3,687	7,654	9,943	14,165
Services	2,089	3,265	4,124	5,978
Depreciation	1,813	2,094	3,708	4,029
Total cost of revenue	$ 57,778	$ 63,008	$ 113,625	$ 121,903

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Components of Inventory
Raw materials	$ 46,149	$ 50,195
Work-in-process	3,043	3,129
Finished goods	35,409	32,634
Inventories	$ 84,601	$ 85,958

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Components of Property, Plant and Equipment
Land	$ 7,140	$ 6,780
Buildings and leasehold improvements	34,332	33,765
Machinery, equipment and rental tools	83,997	80,731
Equipment in progress	4,467	7,299
Furniture and fixtures	2,658	2,528
Property and equipment	150,622	145,274
Less accumulated depreciation	(63,626)	(59,163)
Property and equipment , net	86,996	86,111
Transportation equipment [Member]
Components of Property, Plant and Equipment
Property and equipment	7,509	6,566
Computer equipment and software [Member]
Components of Property, Plant and Equipment
Property and equipment	$ 10,519	$ 7,605

Property and Equipment - Additi

Property and Equipment - Additional Disclosures (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Abstract]
Depreciation expense, inclusive of expense captured in cost of revenue	$ 3.4	$ 3.4	$ 6.8	$ 6.4

Goodwill and Other Intangible45

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Goodwill [Line Items]
Goodwill acquired			$ 1,689,000
Impairments of goodwill recognized	$ 0	$ 0	0	$ 0
Production Technologies [Member]
Goodwill [Line Items]
Goodwill acquired			$ 1,689,000

Goodwill and Other Intangible46

Goodwill and Other Intangible Assets - Carrying Value of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Goodwill [Roll Forward]
Balance at period start	$ 71,131
Addition upon acquisition of IAL	1,689
Balance at period end	72,820
Energy Chemistry Technologies [Member]
Goodwill [Roll Forward]
Balance at period start	36,318
Addition upon acquisition of IAL	0
Balance at period end	36,318
Consumer and Industrial Chemistry Technologies [Member]
Goodwill [Roll Forward]
Balance at period start	19,480
Addition upon acquisition of IAL	0
Balance at period end	19,480
Teledrift [Member]
Goodwill [Roll Forward]
Balance at period start	15,333
Addition upon acquisition of IAL	0
Balance at period end	15,333
Production Technologies [Member]
Goodwill [Roll Forward]
Balance at period start	0
Addition upon acquisition of IAL	1,689
Balance at period end	$ 1,689

Goodwill and Other Intangible47

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization of finite lived intangible assets	$ 1,200	$ 1,200	$ 2,400	$ 2,400
Amortization of deferred financing costs	$ 100		$ 173	$ 148
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period			2 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization period			20 years

Long-Term Debt and Credit Fac48

Long-Term Debt and Credit Facility (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Long-term debt:
Long-term debt	$ 52,159	$ 44,041
Less amount reported as current	(30,332)	(18,643)
Long-term debt, less current portion	21,827	25,398
Revolving Credit Facility [Member]
Long-term debt:
Long-term debt	23,189	8,500
Term loan [Member]
Long-term debt:
Long-term debt	$ 28,970	$ 35,541

Long-Term Debt and Credit Fac49

Long-Term Debt and Credit Facility - Credit Facility (Details) - USD ($)	Mar. 02, 2015	Jun. 30, 2015	Dec. 31, 2014	May. 10, 2013
Line of Credit Facility [Line Items]
Credit facility, financial covenant, Fixed Charge Coverage Ratio		1.10
Fixed Charge Coverage Ratio calculation, maximum impairment excluded from adjusted EBITDA		$ 23,000,000
Fixed Charge Coverage Ratio calculation, excluded amount of unfunded capital expenditures in 2015		7,500,000
Fixed Charge Coverage Ratio calculation, excluded amount of unfunded capital expenditures in 2016		$ 5,000,000
Credit facility, financial covenant, funded debt to adjusted EBITDA ratio		4
Annual limit on capital expenditures		$ 35,000,000
Covenant, percent of adjusted EBITDA which must be prepaid		25.00%
Credit facility ceiling value applicable to 25% of adjusting EBITDA which must be paid		$ 3,000,000
Covenant, maximum number of days from year end by which prepayment of 25% of adjusted EBITDA is due		60 days
Excess cash flow minimum achieved under loan covenant			$ 3,000,000
Amount borrowed		$ 52,159,000	44,041,000
Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		75,000,000
Credit facility, availability		72,900,000
Credit facility, available borrowing capacity, net of outstanding borrowings		$ 49,700,000
Credit facility, commitment fee percentage		0.25%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Amount borrowed		$ 23,189,000	8,500,000
Letter of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		10,000,000
Term loan [Member]
Line of Credit Facility [Line Items]
Debt, face amount				$ 50,000,000
Amount paid on term loan due to covenant requirement	$ 3,000,000
Monthly principal payments		600,000
Amount borrowed		$ 28,970,000	$ 35,541,000
PNC Bank Base Rate [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Base lending rate		3.25%
Credit facility, amount outstanding		$ 3,200,000
Credit facility, interest rate at period end		3.75%
PNC Bank Base Rate [Member] | Term loan [Member]
Line of Credit Facility [Line Items]
Amount borrowed		$ 1,000,000
Debt, interest rate at period end		4.50%
LIBOR [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit facility, amount outstanding		$ 20,000,000
Credit facility, interest rate at period end		1.69%
LIBOR [Member] | Term loan [Member]
Line of Credit Facility [Line Items]
Amount borrowed		$ 28,000,000
Debt, interest rate at period end		2.44%
Minimum [Member] | PNC Bank Base Rate [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit facility, variable percentage rate spread		0.50%
Minimum [Member] | PNC Bank Base Rate [Member] | Term loan [Member]
Line of Credit Facility [Line Items]
Credit facility, variable percentage rate spread		1.25%
Minimum [Member] | LIBOR [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit facility, variable percentage rate spread		1.50%
Minimum [Member] | LIBOR [Member] | Term loan [Member]
Line of Credit Facility [Line Items]
Credit facility, variable percentage rate spread		2.25%
Maximum [Member] | PNC Bank Base Rate [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit facility, variable percentage rate spread		1.00%
Maximum [Member] | PNC Bank Base Rate [Member] | Term loan [Member]
Line of Credit Facility [Line Items]
Credit facility, variable percentage rate spread		1.75%
Maximum [Member] | LIBOR [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit facility, variable percentage rate spread		2.00%
Maximum [Member] | LIBOR [Member] | Term loan [Member]
Line of Credit Facility [Line Items]
Credit facility, variable percentage rate spread		2.75%

Earnings (Loss) Per Share - Bas

Earnings (Loss) Per Share - Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Class of Stock [Line Items]
Net income (loss) - Basic and Diluted	$ (12,547)	$ 11,041	$ (14,062)	$ 23,058
Weighted average common shares outstanding - Basic	54,264	54,645	54,356	54,299
Assumed conversions:
Incremental common shares from warrants	0	0	0	243
Weighted average common shares outstanding - Diluted	54,264	55,533	54,356	55,473
Basic earnings (loss) per common share (in dollars per share)	$ (0.23)	$ 0.20	$ (0.26)	$ 0.42
Diluted earnings (loss) per common share (in dollars per share)	$ (0.23)	$ 0.20	$ (0.26)	$ 0.42
Stock Options [Member]
Assumed conversions:
Incremental common shares from stock options and restricted stock units	0	878	0	916
Restricted Stock Units [Member]
Assumed conversions:
Incremental common shares from stock options and restricted stock units	0	10	0	15

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Disclosures (Details) - Jun. 30, 2015 - shares shares in Millions	Total	Total
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of earnings per share	0.8	0.8
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of earnings per share	0.4	0.4

Fair Value Measurements - Addit

Fair Value Measurements - Additional Disclosures (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Cash equivalents	$ 0	$ 0		$ 0
Impairments of goodwill or other intangible assets		$ 0	$ 0
Impairment to rental equipment	$ 2,300,000

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Other Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Carrying Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrowings under revolving credit facility	$ 23,189	$ 8,500
Carrying Value [Member] | Term loan [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	28,970	35,541
Fair Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrowings under revolving credit facility	23,189	8,500
Fair Value [Member] | Term loan [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	$ 28,970	$ 35,541

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2015Filinggroup
Income Tax Disclosure [Abstract]
Number of U.S. tax return filing groups	2

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Tax Rate (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Federal statutory tax rate	35.00%	35.00%	35.00%	35.00%
State income taxes, net of federal benefit	(0.50%)	2.20%	0.10%	2.20%
Non-US income taxed at different rates	2.90%	0.00%	0.40%	0.00%
Non-deductible expenses	(2.90%)	0.60%	(2.10%)	0.40%
Domestic production activities deduction	0.60%	(2.70%)	0.40%	(2.70%)
Other	(1.00%)	0.00%	(0.90%)	0.00%
Effective income tax rate	34.10%	35.10%	32.90%	34.90%

Income Taxes - Deferred Taxes (

Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Current deferred tax assets	$ 2,602	$ 2,696
Non-current deferred tax assets	18,871	12,907
Non-current deferred tax liabilities	(22,537)	(25,982)
Net deferred tax assets	$ (1,064)
Net deferred tax (liabilities)		$ (10,379)

Convertible Preferred Stock a57

Convertible Preferred Stock and Stock Warrants (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 07, 2014	Jun. 30, 2015	Jun. 30, 2014
Warrants and Rights Note Disclosure [Abstract]
Stock warrants exercised, shares	1,277,250
Warrants exercised, price per share (in dollars per share)	$ 1.21
Proceeds from exercise of stock warrants	$ 1,500	$ 0	$ 1,545

Stock Repurchase Program (Detai

Stock Repurchase Program (Details) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2015	Nov. 30, 2012
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock, value			$ 7,260,000
Stock repurchase program, remaining amount	$ 57,300,000	$ 57,300,000	$ 57,300,000
Share Repurchase Program, November 2012 [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount				$ 25,000,000
Repurchase of common stock, shares		367,129	547,319
Repurchase of common stock, value		$ 4,600,000	$ 7,300,000
Repurchase of common stock, average price per share (in dollars per share)		$ 12.55	$ 13.26
Share Repurchase Program, June 2015 [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 50,000,000	$ 50,000,000	$ 50,000,000
Repurchase of common stock, shares	0

Business Segment, Geographic 59

Business Segment, Geographic and Major Customer Information - Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Summarized financial information regarding reportable segments
Net revenue from external customers	$ 87,030	$ 105,318	$ 169,404	$ 207,893
Gross margin	29,252	42,310	55,779	85,990
Income (loss) from operations	(18,608)	17,675	(19,896)	36,473
Depreciation and amortization	4,610	4,595	9,181	8,814
Total assets	403,393	408,221	403,393	408,221	$ 423,276
Capital expenditures	3,366	4,257	8,963	9,245
Operating Segments [Member] | Energy Chemistry Technologies [Member]
Summarized financial information regarding reportable segments
Net revenue from external customers	56,472	62,589	103,115	124,966
Gross margin	20,426	27,432	36,526	56,650
Income (loss) from operations	11,892	19,162	18,713	40,785
Depreciation and amortization	1,174	1,095	2,378	2,162
Total assets	149,767	140,028	149,767	140,028
Capital expenditures	2,075	1,418	4,443	2,804
Operating Segments [Member] | Consumer and Industrial Chemistry Technologies [Member]
Summarized financial information regarding reportable segments
Net revenue from external customers	15,477	12,607	28,940	25,638
Gross margin	4,126	2,893	7,833	6,927
Income (loss) from operations	2,683	972	5,064	3,307
Depreciation and amortization	549	549	1,102	982
Total assets	98,251	97,935	98,251	97,935
Capital expenditures	6	17	28	30
Operating Segments [Member] | Drilling Technologies [Member]
Summarized financial information regarding reportable segments
Net revenue from external customers	12,334	27,241	31,028	52,142
Gross margin	4,103	10,762	10,094	20,550
Income (loss) from operations	(21,300)	4,200	(21,937)	7,517
Depreciation and amortization	2,218	2,493	4,537	4,930
Total assets	114,481	139,095	114,481	139,095
Capital expenditures	620	2,025	2,744	5,321
Operating Segments [Member] | Production Technologies [Member]
Summarized financial information regarding reportable segments
Net revenue from external customers	2,747	2,881	6,321	5,147
Gross margin	597	1,223	1,326	1,863
Income (loss) from operations	(1,596)	421	(2,135)	343
Depreciation and amortization	198	92	323	163
Total assets	25,544	15,922	25,544	15,922
Capital expenditures	138	50	776	110
Corporate and Other [Member]
Summarized financial information regarding reportable segments
Net revenue from external customers	0	0	0	0
Gross margin	0	0	0	0
Income (loss) from operations	(10,287)	(7,080)	(19,601)	(15,479)
Depreciation and amortization	471	366	841	577
Total assets	15,350	15,241	15,350	15,241
Capital expenditures	$ 527	$ 747	$ 972	$ 980

Business Segment, Geographic 60

Business Segment, Geographic and Major Customer Information - Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 87,030	$ 105,318	$ 169,404	$ 207,893
U.S. [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	73,250	91,691	137,446	179,022
Other countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 13,780	$ 13,627	$ 31,958	$ 28,871

Business Segment, Geographic 61

Business Segment, Geographic and Major Customer Information - Major Customers (Details) - segment	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Number of reportable segments			4
Customer Concentration Risk [Member] | Customer A [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Percentage of revenue by major customers	19.50%		15.80%
Customer Concentration Risk [Member] | Customer B [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Percentage of revenue by major customers	12.10%	17.70%	11.20%	19.20%
Customer Concentration Risk [Member] | Major Customers [Member] | Sales [Member] | Energy Chemistry Technologies [Member] | Minimum [Member]
Segment Reporting Information [Line Items]
Percentage of revenue by major customers			96.00%

Commitments and Contingencies (

Commitments and Contingencies (Details)	3 Months Ended
	Mar. 31, 2015USD ($)
FC Pro, LLC [Member] | Selling, General and Administrative Expenses [Member] | Hazardous Waste Management [Member]
Loss Contingencies [Line Items]
Civil penalty	$ 410,868