DULUTH, Minn., Aug. 4, 2011 (GLOBE NEWSWIRE) -- IKONICS Corporation (Nasdaq:IKNX), a Duluth based imaging technology company, reported record sales of $4,587,000 in the second quarter of 2011. This represents a 26% increase over the first quarter of 2011 and an 8% increase over the second quarter of 2010. For the quarter, earnings fell 10% to $310,000 or $0.16 per share compared to $0.17 per share for the corresponding 2010 quarter. The decline in earnings is primarily attributable to the rising cost of petro-chemicals and expenses related to the company’s new business initiatives.
