Flotek guides Q2 revenues higher, announces acquisition


Flotek (FTK -0.6%) ticks lower despite issuing upside guidance for Q2 revenues, predicting more than $93M vs. $89.3M consensus thanks to its new non-energy chemical technologies unit which stems from its May buyout of Florida Chemical; FTK expects the deal to add $12.5M-plus in revenue per quarter.

FTK also agrees to buy Eclipse IOR Services, a provider of recovery technologies and consulting for oil and gas producers, in a ~$6.5M deal.

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