DULUTH, MN – IKONICS Corporation (NASDAQ:IKNX), a Duluth based imaging technology company, announced today that second quarter 2010 sales increased by 12% over the second quarter of 2009 and that earnings increased by 134% to $0.17 per share. For the six months ended June 30, 2010, sales were up 8% and net income increased by 146% to $0.25 per share. The company’s cash and short term investment balance increased to $2,678,000.
Bill Ulland, IKONICS CEO, said, “I’m pleased to report a continuation of our strong recovery from last year’s recession. All segments of the company contributed to these improved quarterly results, with the export business and our new business initiatives being particularly key to the improved financial results.”
“I am optimistic that our new business initiatives will continue to generate sales increases for some time. As demonstrated by the second quarter results, our cost structure allows sales increases to have a very positive impact on profits.”
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- Jun. 21, 2013: IKONICS® Corporation to Be Added to Russell Microcap® Index
- Apr. 25, 2013: IKONICS Promotes Hegman to Vice President of Sales, North America
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- Sep. 21, 2007: CHROMALINE® Reformulates PC 787
- Sep. 12, 2007: IKONICS CORPORATION ANNOUNCED AS FINALIST FOR EIGHTH ANNUAL TEKNE AWARDS
- Sep. 7, 2007: IKONICS Acquires Option to Purchase City Land
- CHROMALINE® HIRES CRAIG SCHERER AS EAST COAST TECHNICAL SALES REPRESENTATIVE
- Aug. 27, 2007: IKONICS Imaging Introduces R3™
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