Flotek Industries (FTK) 10-K/A 2009 FY Annual report (amended)

EXHIBIT 12

FLOTEK INDUSTRIES, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

Unaudited

(dollars in thousands)

	Year Ended December 31,
	2005		2006		2007		2008			2009
										(Restated)
COMPUTATION OF EARNINGS:
Income (loss) from continuing operations before income taxes and fixed charges	$	9,373	$	17,933	$	27,141	$	(44,660	)	$	(48,224	)
Add:
Fixed charges		881		1,121		3,738		14,296			16,071
Subtract:
Minority interest in pretax income of subsidiaries that have not incurred fixed charges		—		—		916		—			—
Earnings (loss), as defined	$	10,254	$	19,054	$	29,963	$	(30,364	)	$	(32,153	)
COMPUTATION OF FIXED CHARGES AND PREFERRED STOCK DIVIDENDS:
Interest expense (no capitalized interest)	$	827	$	1,005	$	3,501	$	13,813		$	15,431
Estimate of interest within rental expense(1)		54		116		237		483			640
Fixed charges, as defined		881		1,121		3,738		14,296			16,071
Dividends on preferred stock and accretion of discount(2)		—		—		—		—			2,231
Combined fixed charges, preferred stock dividends and accretion of discount	$	881	$	1,121	$	3,738	$	14,296		$	18,302
Ratio of earnings to fixed charges		11.64		17.00		8.02		N/A			N/A
Deficiency of earnings to cover fixed charges		N/A		N/A		N/A	$	(44,660	)	$	(48,224	)
Ratio of earnings to fixed charges and preferred stock dividends		11.64		17.00		8.02		N/A			N/A
Deficiency of earnings to cover combined fixed charges and preferred stock dividends		N/A		N/A		N/A	$	(44,660	)	$	(50,455	)

(1) One third of rental expense is deemed to be representative of interest.

(2) Amount has not been grossed up to a pre-tax amount due to a negative effective tax rate.