FORUM ENERGY TECHNOLOGIES, INC. (NYSE:FET) Files An 8-K Results of Operations and Financial Condition

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FORUM ENERGY TECHNOLOGIES, INC. (NYSE:FET) Files An 8-K Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition.

On April 27, 2017, Forum Energy Technologies, Inc. (the Company)
issued a press release announcing earnings for the quarter ended
March 31, 2017. A copy of the release is furnished herewith as
Exhibit 99.1 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
measures reflect earnings before interest, taxes, depreciation and
amortization expense (EBITDA) and adjusted EBITDA, adjusted
operating income, adjusted net income, adjusted net income per
diluted share (Adjusted Diluted EPS) and free cash flow, before
acquisitions (free cash flow). A reconciliation of EBITDA, adjusted
EBITDA, adjusted operating income, adjusted net income, Adjusted
Diluted EPS and free cash flow to the most directly comparable
financial measures calculated and presented in accordance with
Generally Accepted Accounting Principles in the United States
(GAAP) is included as an attachment to the press release. The
Company believes the presentation of EBITDA, adjusted EBITDA,
adjusted operating income, adjusted net income, Adjusted Diluted
EPS and free cash flow is useful to the Company’s investors
because (i) EBITDA is an appropriate measure of evaluating the
Company’s operating performance and liquidity that reflects the
resources available for strategic opportunities including, among
others, investing in the business, strengthening the balance sheet,
repurchasing the Company’s securities and making strategic
acquisitions and (ii) each of adjusted EBITDA, adjusted operating
income, adjusted net income, Adjusted Diluted EPS and free cash
flow 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. In addition,
EBITDA is a widely used benchmark in the investment community.
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 Section 18 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 a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is furnished as an exhibit to this Current
Report on Form 8-K:
Exhibit No.
Exhibit Title or Description
99.1
Forum Energy Technologies, Inc. Press Release dated
April 27, 2017.


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.

FORUM ENERGY TECHNOLOGIES, INC. (NYSE:FET) Recent Trading Information

FORUM ENERGY TECHNOLOGIES, INC. (NYSE:FET) closed its last trading session down -1.02 at 18.10 with 2,755,897 shares trading hands.