-----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, PFZ2jtWAvafEKM4QjYgHXHl1ITfE7SOmbbpAVE8dElWD0ZPeERT2qXJj3bB4TMgD pHp3F7kWoopCQ7s/6pdsSA== 0000950137-04-008944.txt : 20041026 0000950137-04-008944.hdr.sgml : 20041026 20041025182903 ACCESSION NUMBER: 0000950137-04-008944 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041022 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041026 DATE AS OF CHANGE: 20041025 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: 041094966 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 c89066e8vk.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 OCTOBER 22, 2004 ------------------------------------------------------ Date of report (Date of earliest event reported) IKONICS CORPORATION ------------------------------------------------------ (Exact Name of Registrant as Specified in its Charter) MINNESOTA 000-25727 41-0730027 - ------------------------ ------------------------ ------------------- (State of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 4832 GRAND AVENUE DULUTH, MINNESOTA 55807 - ---------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) (218) 628-2217 ---------------------------------------------------- (Registrant's Telephone Number, Including Area Code) 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 October 22, 2004, IKONICS Corporation (the "Company") reported its financial results for the quarter ended September 30, 2004. See the Company's press release dated October 22, 2004, which is furnished as Exhibit 99 hereto and incorporated by reference in this Item 2.02. Item 9.01. Financial Statements and Exhibits. --------------------------------- (c) Exhibit. ------- 99 Press Release dated October 22, 2004 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 hereunto duly authorized. IKONICS CORPORATION Date: October 26, 2004 /s/ Jon Gerlach -------------------------------- Jon Gerlach Chief Financial Officer and Vice President of Finance 3 EXHIBIT INDEX
No. Description Manner of Filing - --- ----------- ---------------- 99 Press Release dated October 22, 2004............................ Filed Electronically
EX-99 2 c89066exv99.txt PRESS RELEASE EXHIBIT 99 [IKONICS CORPORATION LOGO] NEWS RELEASE NEWS CONTACT: Bill Ulland FOR IMMEDIATE RELEASE Chairman, President & CEO October 22, 2004 (218) 628-2217 IKONICS POSTS 48% INCREASE IN PROFITS ON RECORD 3RD QUARTER SALES DULUTH, MN - IKONICS Corporation, a Duluth based imaging technology company, announced third quarter earnings of $205,000, or $0.10 per share, a 48% increase over the comparable quarter of 2003. Sales increased by 9% to $3,324,000, a third quarter record for the company. The company ended the quarter with a cash and cash equivalents balance of $2,600,000. Year to date sales have increased by 15% over 2003 and profits are up by 97% to $640,000 or $0.32 per share for the nine month period. During the quarter, the company launched SignEtch, a new business unit that is bringing a unique signage system to the market. Bill Ulland, IKONICS' CEO, said that he is very encouraged by the initial market reception to SignEtch. "I am pleased that profits grew significantly during the quarter despite the start up costs associated with the launch," said Ulland. 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 Form 10-KSB, Forms 10-QSB and other reports on file with the SEC. IKONICS CORPORATION STATEMENTS OF OPERATIONS For the Three and Nine Month Periods Ended September 30, 2004 and 2003
THREE MONTHS ENDED NINE MONTHS ENDED 9/30/04 9/30/03 9/30/04 9/30/03 ------- ------- ------- ------- Sales $ 3,324,135 $ 3,061,503 $10,390,348 $ 9,053,881 Costs and expenses, net of interest income 3,045,228 2,871,804 9,520,748 8,568,248 Loss on Investment 0 0 0 (74,666) ----------- ----------- ----------- ----------- Income before income taxes $ 278,907 $ 189,699 $ 869,600 $ 410,967 Federal and state income tax expense 73,672 50,858 229,294 85,968 ----------- ----------- ----------- ----------- Net income $ 205,235 $ 138,841 $ 640,306 $ 324,999 =========== =========== =========== =========== Earnings per common share-diluted $ .10 $ .07 $ .32 $ .17 =========== =========== =========== =========== Average shares outstanding-diluted 2,014,707 1,900,446 2,008,202 1,888,131
BALANCE SHEETS As of September 30, 2004 and December 31, 2003
ASSETS 9/30/04 12/31/03 ------- -------- Current assets $6,784,203 $5,597,674 Property, plant & equipment 1,075,284 1,110,159 Investment 112,834 112,834 Other intangible 291,028 308,017 Deferred taxes 66,000 66,000 ---------- ---------- $8,329,349 $7,194,684 ========== ========== LIABILITIES AND EQUITY Current liabilities $1,131,276 $ 826,334 Long term debt 0 0 Stockholders' equity 7,198,073 6,368,350 ---------- ---------- $8,329,349 $7,194,684 ========== ==========
2 STATEMENTS OF CASH FLOW For the Nine Months Ended September 30, 2004 and 2003
9/30/04 9/30/03 ------- ------- Cash flows from operating activities $ 1,079,265 $ 1,061,979 Cash flows used in investing activities $ (152,410) $ (195,779) Cash flows provided by financing activities $ 182,372 $ 0 ----------- ------------ Net increase in cash and cash equivalents $ 1,109,227 $ 866,200 Cash and cash equivalents at beginning of period $ 1,507,794 $ 384,107 ----------- ----------- Cash and cash equivalents at end of period $ 2,617,021 $ 1,250,307 =========== ===========
3 -----END PRIVACY-ENHANCED MESSAGE-----