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) April 24, 2008

IKONICS CORPORATION

(Exact name of registrant as specified in its charter)

Minnesota	000-25727	41-0730027
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer 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):

  o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

  o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

  o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  o 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 April 24, 2008, IKONICS Corporation (the “Company”) reported its financial results for the quarter ended March 31, 2008. See the Company’s press release dated April 24, 2008, which is furnished as Exhibit 99 hereto and incorporated by reference in this Item 2.02.

Item 9.01. Financial Statements and Exhibits.

(d)	Exhibit.
99	Press Release dated April 24, 2008

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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: April 24, 2008	/s/ Jon Gerlach
	Jon Gerlach
	Chief Financial Officer
	and Vice President of Finance

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EXHIBIT INDEX

		Method
Exhibit	Description	of Filing
99	Press Release dated April 24, 2008	Filed Electronically

EX-99.1

Exhibit 99.1

NEWS RELEASE

News Contact:	Bill Ulland	For Immediate Release
	Chairman, President & CEO	April 24, 2008
	(218) 628-2217

IKONICS POSTS INCREASE IN OPERATING INCOME ON RECORD FIRST QUARTER SALES

DULUTH, MN — IKONICS Corporation (Nasdaq: IKNX), a Duluth based imaging technology company, announced today record 2008 first quarter sales of $3,781,000, an 8% increase over the first quarter of last year. Operating income was $47,000 compared to a small loss for the first quarter of 2007. Net earnings were $106,000, or $0.05 per share, a $33,000 decrease compared to the first quarter of 2007, which benefited from a one time $55,000 gain on the sale of our interests in Apprise Technologies and a $55,000 tax benefit.

Bill Ulland, Ikonics’ CEO, said that the sales growth was led by sales to Europe and Asia, and a significant contribution from our new Photo Machining venture. The weak dollar has helped our export business, while the slow U.S. economy has had some effect on domestic sales.

Ulland added, “Sales of our new Digital Texturing products have been slow to materialize reflecting both continuing product optimization and the depressed condition of the domestic automotive industry, the initial target market. We are now broadening the target market to the international automotive industry and the non-automotive U.S. market,” he added.

On April 7^th, 2008 IKONICS purchased 11 acres, with an option on an additional 4 acres, from the City of Duluth for $366,000. A 35,000 square foot manufacturing and warehouse facility is being constructed on this brown field site.

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, complete and integrate 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 (Unaudited)
For the Three Months Ended March 31, 2008 and 2007

	Three Months Ended
	03/31/08		03/31/07
Sales	$	3,780,848	$	3,507,767
Costs and expenses		3,733,728		3,511,434
Income (Loss) from Operations		47,120		(3,667	)
Gain on sale of investment		—		55,159
Interest Income		43,675		32,907
Income before income taxes	$	90,765	$	84,399
Federal and state income tax benefit (expense)		14,843		54,698
Net income		105,638		139,097
Earnings per common share-diluted	$	0.05	$	0.07
Average shares outstanding-diluted		2,069,129		2,064,511

Condensed Balance Sheets
As of March 31, 2008 and December 31, 2007

	3/31/08		12/31/07
	(Unaudited)
Assets
Current assets	$	9,397,635	$	9,315,737
Property, plant and equipment, net		1,403,373		1,320,591
Investment in non-marketable equity securities		855,201		855,201
Intangible assets		492,825		479,888
Deferred income taxes		11,000		11,000
	$	12,160,034	$	11,982,417
Liabilities and Equity
Current liabilities	$	922,774	$	936,703
Long term debt		—		—
Stockholders’ equity		11,237,260		11,045,714
	$	12,160,034	$	11,982,417