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Dec 31, 2020
Terawulf Q4 2020 Earnings Report
IKONICS announced improved fourth quarter results.
Key Takeaways
IKONICS Corporation announced improved fourth quarter results with a net income of $1,463,000, or $0.74 per diluted share, compared to a loss of $80,000, or $0.04 per diluted share, in the same quarter of the previous year. Sales for the fourth quarter were $4,228,000, down 14.8% versus the same quarter in 2019. The results were favorably impacted by the Company receiving forgiveness on its $1,215,000 SBA PPP loan.
IKONICS delivered markedly improved fourth quarter results compared to the same period last year.
The fourth quarter of 2020 was IKONICS’ first quarterly profit since the fourth quarter of 2018.
IKONICS Imaging business saw renewed customer interest and enjoyed robust sales.
The company expects to commercialize the Dual Print™ mold texturing mask making system in 2021.