UPDATE 1-Flotek Industries 1st-qtr beats Street view

* Q1 adj EPS $0.26 vs est $0.18

* Q1 rev up 50 pct to 79.2 mln

May 9 (Reuters) - Flotek Industries' first-quarter results beat analysts' estimates, helped by increased drilling activity and improved pricing.

For January-March, the Houston-based company's net income was $3.6 million, or 7 cents per share, compared with $10.4 million, or 15 cents per share, a year ago.

Excluding one-time items, the company, valued at about $665 million, earned 26 cents per share.

Revenue rose 50 percent to $79.2 million.

Analysts had expected the company to earn 18 cents per share on revenue of $74.3 million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $13.29 on Wednesday on the New York Stock Exchange. The stock has nearly tripled in value since touching a 12-month low of $3.89 last October.