Ikonics Corporation (IKNX) Issues Earnings Results
Ikonics Corporation (NASDAQ:IKNX) issued its quarterly earnings data on Friday. The specialty chemicals company reported ($0.06) earnings per share for the quarter, Bloomberg Earnings reports. The company had revenue of $3.98 million for the quarter. Ikonics Corporation had a negative net margin of 2.24% and a negative return on equity of 2.99%.
Ikonics Corporation (NASDAQ IKNX) remained flat at $$8.00 on Friday. The company had a trading volume of 2,504 shares, compared to its average volume of 1,550. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.63 and a current ratio of 6.22.
Ikonics Corporation declared that its board has authorized a stock buyback program on Thursday, August 3rd that allows the company to repurchase 100,000 outstanding shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other Ikonics Corporation news, insider Joseph R. Nerges sold 3,550 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $8.78, for a total value of $31,169.00. Following the transaction, the insider now directly owns 382,996 shares in the company, valued at $3,362,704.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.26% of the stock is currently owned by company insiders.
Ikonics Corporation Company Profile
IKONICS Corporation is engaged in the development and manufacturing of photochemical imaging systems for sale primarily to a range of printers and decorators of surfaces. The Company has five operating segments: Domestic, Export, IKONICS Imaging, Digital Texturing (DTX) and Advanced Material Solutions (AMS).
Receive News & Ratings for Ikonics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ikonics Corporation and related companies with MarketBeat.com's FREE daily email newsletter.