FORUM ENERGY TECHNOLOGIES, INC. (NYSE:FET) Files An 8-K Results of Operations and Financial ConditionItem 2.02 Results of Operations and Financial Condition.
On October11, 2017, Forum Energy Technologies, Inc. (the “Company”) issued a press release with respect to its quarter ended September 30, 2017 earnings results. A copy of the release is furnished herewith as Exhibit99.1 and incorporated herein by reference.
Exhibit 99.1 to this report contains “non-GAAP financial measures” as defined in Item 10 of Regulation S-K of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The non-GAAP financial measure reflected is adjusted net income per diluted share (“Adjusted Diluted EPS”). A reconciliation of Adjusted Diluted EPS to the most directly comparable financial measure calculated and presented in accordance with Generally Accepted Accounting Principles in the United States (“GAAP”) is included in the press release. The Company believes the presentation of Adjusted Diluted EPS is useful to the Company's investors because Adjusted Diluted EPS is useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the Company's normal operating results.
The presentation of this additional information is not meant to be considered in isolation or as a substitute for the Company's financial results prepared in accordance with GAAP.
The information contained in this Current Report shall not be deemed to be “filed” for purposes of Section18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 2.02 Financial Statements and Exhibits.
The following exhibit is furnished as an exhibit to this Current Report on Form 8-K:
FORUM ENERGY TECHNOLOGIES, INC. ExhibitEX-99.1 2 pressreleaseharveyimpact.htm EXHIBIT 99.1 Exhibit FOR IMMEDIATE RELEASEForum Energy Technologies Announces Effect of Hurricane Harvey,…To view the full exhibit click
About FORUM ENERGY TECHNOLOGIES, INC. (NYSE:FET)
Forum Energy Technologies, Inc. is an oilfield products company. The Company designs, manufactures and distributes products and engages in aftermarket services, parts supply and related services. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas. Its capital products are targeted at drilling rig equipment for rigs, upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells; pressure pumping equipment, and downstream capital projects. Its engineered systems are components used on drilling rigs for completions or in the course of subsea operations, while its consumable products are used to maintain operations at well sites in the well construction process.