-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ss/vI51PRWZgoKuRz28OFAbBd3tz78XfBCOlB6smXFi1URFpurTtpQC/Ig8G/9BV T6KMNGmYEyqWTgVOZHMumA== 0000950134-03-011273.txt : 20030811 0000950134-03-011273.hdr.sgml : 20030811 20030811125144 ACCESSION NUMBER: 0000950134-03-011273 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030806 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030811 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IKONICS CORP CENTRAL INDEX KEY: 0001083301 STANDARD INDUSTRIAL CLASSIFICATION: PHOTOGRAPHIC EQUIPMENT & SUPPLIES [3861] IRS NUMBER: 410730027 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25727 FILM NUMBER: 03833857 BUSINESS ADDRESS: STREET 1: 4832 GRAND AVENUE CITY: DULUTH STATE: MN ZIP: 55807 BUSINESS PHONE: 2186282217 MAIL ADDRESS: STREET 1: 4832 GRAND AVENUE CITY: DULUTH STATE: MN ZIP: 55807 FORMER COMPANY: FORMER CONFORMED NAME: CHROMALINE CORP DATE OF NAME CHANGE: 19990405 8-K 1 c78880e8vk.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) August 6, 2003 ------------------------------- IKONICS CORPORATION - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) MINNESOTA 000-25727 41-0730027 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 4832 GRAND AVENUE DULUTH, MINNESOTA 55807 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (218) 628-2217 ----------------- Item 7. Financial Statements and Exhibits. (c) Exhibits 99 Press Release dated August 6, 2003 Item 12. Results of Operations and Financial Condition. On August 6, 2003, IKONICS Corporation (the "Company") reported its financial results for the quarter ended June 30, 2003. See the Company's press release dated August 6, 2003, which is furnished as Exhibit 99 hereto and incorporated by reference in this Current Report on Form 8-K. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. IKONICS CORPORATION Date: August 11, 2003 /s/ William C. Ulland ----------------------------------- William C. Ulland Chairman, Chief Executive Officer and President 3 EXHIBIT INDEX
Method Exhibit Description of Filing ------- ----------- --------- Filed 99 Press Release dated August 6, 2003 .............. Electronically
EX-99 3 c78880exv99.txt PRESS RELEASE EXHIBIT 99 [IKONICS CORPORATION LOGO] 4832 Grand Ave. - Duluth, MN 55807 PH: 218-628-2217 - Fax: 218-628-3245 NEWS RELEASE www.ikonics.com - info@ikonics.com News Contact: BILL ULLAND For Immediate Release Chairman, President & CEO August 6, 2003 (218) 628-2217 IKONICS REPORTS 19% INCREASE IN PROFITS FOR SECOND QUARTER DULUTH, MN - IKONICS Corporation, a Duluth based imaging technology company, announced sales and earnings for the second quarter of 2003. IKONICS reported profits for the second quarter of 2003 of $0.13 per share, a 19% increase over the second quarter of 2002 and well above the $0.02 cents per share earned in the first quarter of 2003. Sales in the second quarter of 2003 were $3,162,000 - basically even with those of the 2002 period. Bill Ulland, IKONICS CEO, said that the flat sales are attributable to a fall-off in some segments of the export market and the discontinuance of an unprofitable domestic operation. This was offset by increased sales of higher margin products in North America and Europe. Ulland anticipates sales to Asia will pick-up in the third quarter. The SARS epidemic delayed the opening of the company's training center in Singapore by a month. The first session was held in June, with further sessions in Singapore and India scheduled for the fall. "Asia remains an important part of our plans and we regard the second quarter slump to be an anomaly in the sales growth we have been seeing there," stated Ulland. During the quarter the company recorded a $75,000 charge to earnings for a write down of its investment in Apprise Technologies Inc. and recognized a tax benefit of $42,000 related to an adjustment of the company's extraterritorial tax benefits. During the quarter, IKONICS completed the first redesign of the RapidMask technology acquired from DuPont. "This has given us three new products for the abrasive etching market which are being launched in the third quarter," said Ulland. "We are ahead of schedule with these products and I am increasingly optimistic they will grow sales and lead us into new markets." IKONICS stock is listed on the Nasdaq SmallCap market under the symbol IKNX. This press release contains forward-looking statements regarding sales, earnings, and new products that involve risks and uncertainties. The company's actual results could differ materially as a result of domestic and global economic conditions, competitive market conditions, acceptance of new products, the ability to identify and make suitable acquisitions, as well as the factors described in the company's filings with the SEC. IKONICS CORPORATION STATEMENTS OF INCOME For the Three Months Ending June 30, 2003 and 2002
THREE MONTHS ENDED 6/30/03 6/30/02 Sales $3,161,731 $3,164,255 Costs, expenses, and other income $2,911,455 $2,964,043 ---------- ---------- Income before income taxes $ 250,276 $ 200,212 Loss on investment $ 74,666 $ 0 Federal and state income tax expense $ 19,131 $ 68,971 ---------- ---------- Net income $ 156,479 $ 131,241 ========== ========== Earnings per common share - diluted $ 0.13 $ 0.11 ========== ========== Average shares outstanding - diluted 1,254,299 1,248,127
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