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Aerospace leads revenue growth at Ikonics

Ikonics Corporation, a Duluth-based imaging technology company, reported 2018 second-quarter earnings of $145,000, or $0.07 per diluted share as compared to a loss of $0.05 per diluted share for second quarter of 2017.

“Revenue was down by 1% from the second quarter of 2017, which had been favorably impacted by $320,000 in sales of two DTX printers; we are optimistic that similar sales of DTX printers will occur in the second half of this year,” said Ikonics CEO Bill Ulland. “Year-to-date revenues are up by 5%, and earnings are at $0.01 per diluted share compared to a loss of $0.24 per diluted for the first six months of 2017.”

Ulland continued, “Positive revenue trends for the quarter were led by AMS, our aerospace and electronic wafer business unit, which posted record revenues and was up 474% over the same quarter of last year with sales of $471,000. Ninety-two percent of our aerospace sales are under long-term agreements. Because of their complex and inter-dependent supply chains, these customers demand 100% on-time delivery (70% of parts of a modern commercial jet are furnished by suppliers such as AMS). We are proud to say that we meet this demanding requirement.”