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FORUM ENERGY TECHNOLOGIES, INC. FILES (8-K) Disclosing Results of Operations and Financial Condition

July 25, 2014



Item 2.02 Results of Operations and Financial Condition. On July 24, 2014, Forum Energy Technologies, Inc. (the "Company") issued a press release announcing earnings for the quarter ended June 30, 2014. 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 and adjusted net income per diluted share ("Adjusted Diluted EPS"). A reconciliation of EBITDA, adjusted EBITDA, adjusted operating income and Adjusted Diluted EPS 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 and Adjusted Diluted EPS 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 and 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. 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 July 24, 2014.



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Source: Edgar Glimpses


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