DULUTH, Minn., Nov. 03, 2016 (GLOBE NEWSWIRE) -- IKONICS Corporation (NASDAQ:IKNX), a Duluth-based imaging technology company, announced third quarter earnings of $82,000, or $0.04 per diluted share, as compared to $0.06 per diluted share for the third quarter of 2015. Sales for the third quarter of 2016 were essentially flat compared to the same period in 2015 and, on a year-to-date comparison, overall 2016 sales and earnings are similar to 2015. In addition, the Company noted that a newly developed product for the printed electronics market, which encompasses wearable technology, micro-antennas and touch pads, was recognized as product of the year at an industry trade show. IKONICS CEO, Bill Ulland, said: "Although the return to profitability was welcomed, the strong dollar and the weak global economy continue to create headwinds for IKONICS. "However, sales by AMS, our aerospace business, continued to grow in the third quarter of 2016, showing a 64% increase over the third quarter of 2015," he said. "New opportunities to further expand that business are being actively investigated with major aerospace companies." Ulland noted that IKONICS' export business was down 7% quarter over quarter, while other business units were consistent with 2015 results. "Our new product for the printed electronics market, Alpha FlexTrace, was awarded Product of the Year at the Specialty Printing and Imaging Technology Expo (SGIA) in Las Vegas, in this quarter," Ulland said. "Alpha FlexTrace is a flexible, printed circuit substrate featuring a proprietary surface treatment that overcomes conductive ink spread, which is a common problem in micro-circuit printing. The advanced surface properties of Alpha FlexTrace were developed by IKONICS to improve the print acuity of conductive pastes by maximizing ink deposit and controlling the circuit footprint at the substrate level." Ulland continued, "If accepted by the electronics industry, this product has the potential to have a major impact on IKONICS, since it is a consumable and its usage could be substantially in excess of our other products sold in this market."