-----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, MrFTooKKvUf2OwG21aUHsZCthX0KSNRIRRd9mNZS0NE0I84V8/8L+7AmB0G6lukS PsU790xKBNwoa/NpjjUWOA== 0000950134-05-014109.txt : 20050727 0000950134-05-014109.hdr.sgml : 20050727 20050727111215 ACCESSION NUMBER: 0000950134-05-014109 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050722 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050727 DATE AS OF CHANGE: 20050727 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: 05976030 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 c97037e8vk.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) July 22, 2005 ------------------------------- 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 ---------------------------- Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 2.02. Results of Operations and Financial Condition. On July 25, 2005, IKONICS Corporation (the "Company") reported its financial results for the quarter and six months ended June 30, 2005. See the Company's press release dated July 25, 2005, which is furnished as Exhibit 99 hereto and incorporated by reference in this Item 12. This press release contained slight updates to the press release issued by the Company on July 22, 2005. Item 9.01. Financial Statements and Exhibits. (c) Exhibit. 99 Press Release dated July 25, 2005 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: July 27, 2005 /s/ Jon Gerlach ------------------------------------ Jon Gerlach Chief Financial Officer and Vice President of Finance 3 EXHIBIT INDEX
Method Exhibit Description of Filing ------- ----------- --------- Filed 99 Press Release dated July 25, 2005 ............................................. Electronically
EX-99 2 c97037exv99.txt PRESS RELEASE EXHIBIT 99 IKONICS CORPORATION 4832 GRAND AVE. - DULUTH, MN 55807 PH: 218-628-2217 - FAX: 218-628-3245 www.ikonics.com - info@ikonics.com NEWS RELEASE NEWS CONTACT: Bill Ulland FOR IMMEDIATE RELEASE Chairman, President & CEO July 25, 2005 (218) 628-2217 IKONICS UPDATES SECOND QUARTER RESULTS -- REPORTS STRONG REBOUND IN SALES AND EARNINGS DULUTH, MN - IKONICS Corporation, a Duluth based imaging technology company, reported sales for the second quarter of 2005 of $3,742,000 and earnings of $275,000. Sales improved by 12% over the first quarter of the year and were slightly above the record second quarter of 2004. Earnings for the second quarter of 2005 were $275,000, or $0.14 per share, compared to $0.01 per share for the first quarter of 2005, and slightly ahead of the second quarter of 2004. Bill Ulland, IKONICS CEO, said, "I am pleased that sales have rebounded to a record level and earnings, in spite of costs associated with a new product line start-up and an unfavorable $54,000 inflation related LIFO inventory adjustment, matched our strong 2004 second quarter performance." IKONICS was recently named one of the fastest growing small public companies in America by Fortune magazine. This press release contains forward-looking statements regarding sales, net 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 Form 10-KSB, Forms 10-QSB and other reports on file with the SEC. IKONICS CORPORATION CONDENSED STATEMENTS OF OPERATIONS For the Three Months and Six Months Ended June 30, 2005 and 2004
THREE MONTHS ENDED SIX MONTHS ENDED 6/30/05 6/30/04 6/30/05 6/30/04 ---------- ---------- ---------- ---------- Net sales $3,741,995 $3,683,415 $7,070,522 $7,066,213 Costs and expenses net of interest income 3,343,065 3,312,347 6,656,826 6,475,520 ---------- ---------- ---------- ---------- Income before income taxes 398,930 371,068 413,696 590,693 Income tax expense 123,668 96,655 114,779 155,622 ---------- ---------- ---------- ---------- Net income $ 275,262 $ 274,413 $ 298,917 $ 435,071 ========== ========== ========== ========== Earnings per common share-diluted $ .14 $ .14 $ .15 $ .22 ========== ========== ========== ========== Average shares outstanding-diluted 1,964,166 2,016,595 1,964,218 2,004,158
CONDENSED BALANCE SHEETS As of June 30, 2005 and December 31, 2004
ASSETS 6/30/05 12/31/04 ---------- ---------- Current assets $6,593,319 $6,906,349 Property, plant and equipment, net 924,436 1,028,830 Intangible assets 288,286 292,349 Deferred income taxes 65,000 65,000 Investment in non-marketable equity securities 450,790 197,460 ---------- ---------- $8,321,831 $8,489,988 ========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities $ 581,301 $1,075,772 Long term debt 0 0 Stockholders' equity 7,740,530 7,414,216 ---------- ---------- $8,321,831 $8,489,988 ========== ==========
CONDENSED STATEMENTS OF CASH FLOW For the Six Months Ended June 30, 2005 and 2004
6/30/05 6/30/04 ----------- ----------- Cash flows provided by operating activities $ 125,237 $ 498,851 Cash flows used in investing activities $ (272,362) (95,643) Cash flows provided by financing activities 13,214 165,736 ----------- ----------- Net increase (decrease) in cash and cash equivalents (133,911) 568,944 Cash and cash equivalents at beginning of period 2,737,460 1,507,794 ----------- ----------- Cash and cash equivalents at end of period $ 2,603,549 $ 2,076,738 =========== ===========
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