ICO to miss preferred dividend

By Kimberly N. Alleyne

Stroudsburg, Pa., Aug. 11 - ICO, Inc.'s board of directors decided against declaring any dividend on its depository shares for the quarter ending Sept. 30, 2005. Each depositary share represents 25% of a share of its $6.75 convertible exchangeable preferred stock

The announcement on the dividend follows the release of ICO's results for the fiscal third quarter ended June 30.

The company reported that revenues increased $9.0 million or 13% to $75.8 million during the quarter ended June 30, 2005, compared to the same quarter last year. Gross profit improved to $12.7 million, up $0.7 million or 6% from the same quarter last year.

ICO is a producer of custom polymer powders and film concentrates and is headquartered in Houston, Texas.

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