I am also in both CFK and FLTK, CFK added recently at 5.5. I got into FLTK in the 1.50 area, bought a lot under 3, and have been adding since the Feb. pop. The projections for FLTK for '05 are for 1.00-1.05 EPS (untaxed). These were presented at the EnerCom conference in late February, and repeated in the Howard Weil Conference in April. The EnerCom presentation is archived on the Flotek web site (www.flotekind.com) where you can hear Jerry Dumas et al. give a nice talk. Virtally the same material was used in the Howard Weil presentation, but that link just gives the slides without an archived talk.
The "Petrovalve", that CFK will be selling for them in Canada, is kind of a sexy product, but so far has only contributed a few hundred K/quarter. This is a high margin product, and if CFK can gain some acceptance for it, a couple of million or so would be fairly significant. Even without it though, I see them beating projections to closer to 1.20 EPS. If you artificially tax this, and give that number a PE of 20, we're talking the 15-16 range.
Anyway, if you're in or interested in the stock, be sure to listen to that archived presentation. Good stuff.