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Strong Fourth Quarter Lifts IKONICS

Stocks in this article: IKNX

The IKONICS Corporation logo is available at

This press release contains forward-looking statements regarding sales, gross profits, net earnings, balance sheet position, new products and new business initiatives that involve risks and uncertainties. The Company's actual results could differ materially as a result of domestic and global economic conditions, downturns in the aerospace industry, unexpected production delays by customers using the Company's products, competitive market conditions, changes in consumer preferences, inability to commercialize technologies the Company is developing on the anticipated timeline or at all, acceptance of new products the Company offers, introduction of new products or technologies by competitors, unexpected capital expenditure requirements, the ability to control operating costs without impacting growth as well as the factors described in the Company's Form s 10-K, and 10-Q, and other reports on file with the SEC.

IKONICS Corporation
For the Three Months and Twelve Months Ended December 31, 2012 and 2011
   Three Months Ended  Twelve Months Ended
  12/31/2012  12/31/11  12/31/12  12/31/11
Net sales $4,524,468 $4,178,419 $17,312,407 $16,780,262
Cost of goods sold 2,641,347 2,469,645 10,367,563 10,070,852
Gross profit 1,883,121 1,708,774 6,944,844 6,709,410
Operating expenses 1,456,944 1,451,114 5,911,963 5,683,406
Income from operations 426,177 257,660 1,032,881 1,026,004
Interest income 2,673 3,882 12,050 17,253
Income before income taxes 428,850 261,542 1,044,931 1,043,257
Income tax expense 143,708 124,850 351,000 345,000
Net income $285,142 $136,692 $693,931 $698,257
Earnings per common share-diluted $0.14 $0.07 $0.35 $0.35
Average shares outstanding-diluted 1,994,802 1,989,106 1,990,847 1,986,041
As of December 31, 2012 and 2011
  12/31/2012 12/31/2011
Current assets $7,417,041 $8,404,194
Property, plant and equipment, net 5,461,878 5,436,902
Intangible assets 305,357 326,362
  $13,184,276 $14,167,458
Liabilities and Stockholders' Equity    
Current liabilities  $1,023,531 $838,915
Deferred income taxes 366,000 338,000
Long term debt    -- 
Stockholders' equity 11,794,745 12,990,543
  $13,184,276 $14,167,458
For the Twelve Months Ended December 31, 2012 and 2011
  12/31/2012 12/31/2011
Net cash provided by operating activities $1,181,950 $793,532
Net cash used in investing activities (171,725) (288,881)
Net cash provided by (used in) financing activities (1,909,447) 71,131
Net increase (decrease) in cash and cash equivalents  (899,222 575,782
Cash and cash equivalents at beginning of period 1,867,165 1,291,383
Cash and cash equivalents at end of period $967,943 $1,867,165
         Bill Ulland
         Chairman, President & CEO
         (218) 628-2217

IKONICS Corporation Logo

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