Ico (MM) (ICOC)

ICOC sideways>>>>>>>

Russell 2000 adds 34 materials, processing stocks
Monday June 30, 3:43 pm ET
Russell 2000 adds 34 materials, processing stocks, 21 companies the sector removed from index

NEW YORK (AP) -- More than 30 companies in the materials and processing sector were added to the Russell 2000 in this year's reconstitution of the small stock index, while 21 companies in the sector were removed from the index.

Aceto Corp., AgFeed Industries Inc., Allied Nevada Gold Corp., BWAY Holding Co., Calavo Growers Inc., China BAK Battery Inc., China Precision Steel Inc., Cogdell Spencer Inc., Furmanite Corp., General Steel Holdings, Griffin Land & Nurseries Inc., HQ Sustainable Maritime Industries, Hill International Inc., ICO Inc. and Kapstone Paper & Packaging Corp. joined the Russell 2000.

Also added to the small-cap index were: Lumber Liquidators Inc., Lydall Inc., NN Inc., Omega Flex Inc., Orion Marine Group Inc., Penford Corp., Quaker Chemical Corp., Solutia Inc., Sterling Construction Co., Sutor Tech Group Ltd., Ultralife Corp., Unifi Inc., United States Lime & Minerals Inc., VSE Corp., Valence Technology Inc. and Verso Paper Corp.

Forestar Real Estate Group, Louisiana Pacific Corp. and Westlake Chemical Corp. moved down to the Russell 2000, from the Russell 1000 index of large stocks.

The following companie were removed from the Russell 2000 index: Bluelinx Holdings Inc., Building Materials Holding Corp., Chesapeake Corp., CompX International Inc., Georgia Gulf Corp., HFF Inc., Kronos Worldwide Inc., MGP Ingredients Inc., PGT Inc., Senomyx Inc., Tronox Inc. and US Gold Corp.

AECOM Technology Corp., AptarGroup Inc., CF Industries Holdings Inc., Century Aluminum Co., Greif Inc., Schnitzer Steel Industries Inc., Terra Industries Inc., Valhi Inc. and Valmont Industries Inc. were added to the Russell 1000 index of large stocks, and were removed from the Russell 2000.

Tacoma, Wash.-based Russell Investments realigns the Russell 3000 index once per year, tracking what it maintains is 99 percent of the U.S. equity market. That index is then broken down to 26 smaller indexes, including the widely watched Russell 2000 index of small capitalization stocks.

The makeup of the Russell indexes for the next 12 months was finalized after the closing bell Friday.

Form 8-K for ICO INC

13-Jun-2008

Regulation FD Disclosure, Financial Statements and Exhibits


Item 7.01 Regulation FD Disclosure.

The Company will post to its website (www.icopolymers.com) an updated investor presentation concerning its products and services generally, financial results, business opportunities, and related matters. This presentation may be used for discussions the Company may have with financial analysts, investors, and other third parties. A copy of the slide presentation is set forth as Exhibit 99.1 hereto and is incorporated herein by reference.

The presentation attached as Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Description
99.1 ICO, Inc. slide presentation dated June 12, 2008.

stuck in a sideways channel

ICO, Inc. Announces the Election of Phillip D. Ashkettle to its Board of Directors and the Resignation of Charles T. McCord, III as a Director
Thursday May 8, 1:30 pm ET

HOUSTON, May 8 /PRNewswire-FirstCall/ -- ICO, Inc. (Nasdaq: ICOC - News), global producer of custom polymer powders and plastic film concentrates, today announced that the Board of Directors elected Phillip D. Ashkettle to the Board of Directors effective May 8, 2008 for a term that will expire at the Company's 2010 annual meeting of shareholders. The Company also announced that Charles T. McCord, III tendered his resignation as a Director effective as of May 8, 2008.

Mr. Ashkettle has more than 40 years experience in the plastics and chemical industries, where he has held positions in operations, business development and management. Mr. Ashkettle was previously the Chairman and Chief Executive Officer of M.A. Hanna (now part of Polyone Corporation), from June 1999 to August 2000. Prior to his employment with M.A. Hanna, Mr. Ashkettle served as the President and Chief Executive Officer of Reichhold Chemicals, Inc. (now known as Reichold, Inc.), from 1993 to 1999. Mr. Ashkettle also held a number of management and senior management positions with Ashland Chemical (now known as Ashland Inc.) and its General Polymers division, from 1983 to 1993. Mr. Ashkettle began his career with positions at Owens Corning and Union Camp Corporation (now known as International Paper Company).

Mr. Ashkettle presently serves on the advisory boards of Falls River Group LLC, an investment banking firm; Polyflow Corporation, a technology development company focused on recycling consumer plastics; and Brecourt Capital Partners LLC, an investment fund.

Gregory T. Barmore, Chairman of the Company's Board of Directors, said, "We are very pleased with the addition of Mr. Ashkettle to our Board of Directors. With his knowledge and depth of experience in the polymer and chemical industry, we believe he will make a very valuable contribution to our Board of Directors, and we look forward to working with him."

Due to increasing time constraints in his other business interests, Mr. McCord has tendered his resignation from the Board of Directors. He has served as a Director of the Company for over seven years, having been first elected to the Board of Directors in April 2001. The Company's President and Chief Executive Officer, Mr. A. John Knapp, Jr., stated, "We have greatly appreciated Mr. McCord's thoughtful leadership and steadfast manner over the past seven years, and we wish him all the best in his future endeavors."

Form 8-K for ICO INC

8-May-2008

Change in Directors or Principal Officers, Financial Statements and Exhibits


Item 5.02 Departure of Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 7, 2008, the Board of Directors (the "Board") of ICO, Inc. (the "Company") elected Phillip D. Ashkettle to the Board effective May 8, 2008, for a term that expires at the Company's 2010 annual meeting of shareholders. Mr. Ashkettle was elected to fill the vacancy on the Board resulting from the resignation of Charles T. McCord, III from the Board, which became effective on May 8, 2008. Mr. Ashkettle will serve as a member of the Compensation Committee of the Board of Directors. Mr. Ashkettle has more than 40 years experience in the plastics and chemical industries and currently serves on the advisory boards of Fox River Group LLC, Polyflow Corporation and Brecourt Capital Partners
LLC. The Company issued a press release on May 8, 2008 announcing the election of Mr. Ashkettle and the resignation of Mr. McCord, which is included as Exhibit 99.1 and incorporated by reference into this Item 5.02.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Description
99.1 Press Release dated May 8, 2008

ICO, Inc. Announces Financial Results for Second Quarter Ended March 31, 2008
Wednesday May 7, 7:54 pm ET

HOUSTON, May 7 /PRNewswire-FirstCall/ -- ICO, Inc. (Nasdaq: ICOC - News), global producer of custom polymer powders and plastic film concentrates, today announced its results for the quarter ended March 31, 2008.

Second Quarter Highlights
-- Revenues of $112.1 million, an increase of $17.4 million or 18% from
the prior year
-- Volume growth of 2% compared to the second quarter of fiscal 2007
-- Operating income of $8.6 million, up 26% year-over-year
-- Net income per share of $.18 fully diluted
-- Company announces relocation of New Jersey plant to Pennsylvania


Second Quarter 2008 vs. Second Quarter 2007

Revenues for the three months ended March 31, 2008 were $112.1 million, an increase of $17.4 million or 18% compared to the same quarter of the previous year. The translation effect of stronger foreign currencies caused $8.5 million of the increase, while higher average selling prices and changes in product mix caused $4.6 million of the increase. A 2% increase in volumes sold caused $4.3 million of the growth.

As a result of the increase in revenues, gross profit increased $1.9 million or 11% to $19.3 million. The second quarter of fiscal year 2008 includes in impairment, restructuring and other costs (income) a net gain of $1.6 million as a result of an estimated insurance recovery related to the July 2007 fire that occurred in the Company's New Jersey facility. Operating income increased $1.8 million or 26% to $8.6 million. Income tax expense increased $1.9 million due to the increase in pre tax income as well as a reversal of a valuation allowance in the prior year quarter of $1.4 million related to previously reserved deferred tax assets. As a result, income from continuing operations decreased $0.5 million or 10% to $5.0 million, or $.18 per fully diluted share. During the second quarter of fiscal year 2007, an after tax gain of $1.5 million was recognized in discontinued operations. Consequently, net income decreased $2.0 million or 29% to $5.0 million.

Second Quarter 2008 vs. First Quarter 2008

Comparing the sequential quarterly results, revenues increased $1.3 million or 1%. Volumes sold increased 2% which led to an increase in revenues of $6.5 million, which was partially offset by a change in product mix which reduced revenues by $6.1 million. The translation effect of stronger foreign currencies increased revenues by $0.9 million. Operating income increased $2.2 million or 33% in part due to the estimated insurance recovery during the quarter as our gross margins remained flat. Net income increased $1.5 million or 42% as a result of the improvement in operating income.

"We just completed a quarter in which our operating income improved 26% year-over-year," stated A. John Knapp, Jr., the Company's President and CEO. "Our European region performed very well for the Company by improving operating income 40%. We also benefited in the quarter from the insurance recovery, of which a considerable portion related to compensation for business interruption expenses and lost profits as a result of the fire that occurred at our New Jersey facility in 2007. During the last quarter, in North America our industry encountered economic headwinds and uncertainty regarding future resin price trends. ICO is not immune to these factors. However, our product diversity and our geographic diversity, including our exposure to growing foreign markets, give us confidence in our long-term business."

Relocation of New Jersey Facility to Pennsylvania

The Company is pleased to announce that the New Jersey facility will be relocated to Allentown, Pennsylvania, approximately 35 miles west of its current location. The Company expects to begin production in the new facility within the next 120 days and expects to have all production moved from New Jersey to Pennsylvania within the next twelve months. The new facility in Pennsylvania will be state-of-the-art for the industry and will provide an upgrade to our capacity as well as increased operating efficiencies.

Balance Sheet and Liquidity

For the first six months of fiscal year 2008, shareholders' equity increased $16.9 million or 19%, primarily as a result of year-to-date net earnings and the effect of stronger foreign currencies compared to the U.S. Dollar. Our available borrowing capacity at March 31, 2008 was $57.0 million, an increase from December by $4.7 million. In April 2008, we entered into an interest rate swap on our existing $11.7 million term loan that matures in 2011, essentially locking in our interest rate at 4.32%, subject to changes in the Company's leverage ratio. Additionally, in May 2008, we executed an amendment to our existing domestic credit facility extending the maturity of the credit facility by one year to October 2012, and increasing our borrowing capacity by $5.0 million. During the second quarter, we generated cash flow from operating activities of $1.8 million. Our capital expenditures were $4.6 million during the quarter. Approximately $2.7 million of the $4.6 million of capital expenditures related to our facility relocation from New Jersey to Pennsylvania.

Conference Call on the Web

A live Internet broadcast of ICO, Inc.'s conference call regarding fiscal
2008 second quarter results can be accessed at 10:00 a.m. Central Standard
Time on Thursday, May 8, 2008 at
http://www.videonewswire.com/event.asp?id=47839, where the webcast replay will
be accessible for ninety days. The webcast replay will also be accessible on
the Company's website at http://www.icopolymers.com for a period of twelve
months. (Minimum requirements to listen to the broadcast are: The Windows
Media Player software, downloadable free from
http://www.microsoft.com/windows/windowsmedia/player/download/download.aspx
and at least a 28.8Kbps connection to the Internet.)

Investors are invited to participate in the conference by dialing 847-413-3238, passcode 21304085. A replay of the conference call will be available by dialing 630-652-3044, passcode 21304085.

About ICO, Inc.

With 19 locations in 10 countries, ICO produces custom polymer powders for rotational molding and other polymer related businesses, such as the textile, metal coating and masterbatch markets. ICO remains an industry leader in size reduction, compounding and other tolling services for plastic and non-plastic materials. ICO's Bayshore Industrial subsidiary produces specialty compounds, concentrates and additives primarily for the plastic film industry. Additional information about ICO, Inc. can be found on the Company's website at http://www.icopolymers.com.

This press release contains forward-looking statements, which are not statements of historical facts and involve certain risks, uncertainties and assumptions. These include, but are not limited to, restrictions imposed by the Company's outstanding indebtedness, changes in the cost and availability of resins (polymers) and other raw materials, demand for the Company's services and products, business cycles and other industry conditions, international risks, operational risks, currency translation risks, the Company's lack of asset diversification, the Company's ability to manage global inventory, develop technology and proprietary know-how, and attract and retain key personnel, as well as other factors detailed in the Company's form 10-K for the fiscal year ended September 30, 2007 and its other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.


ICO, Inc.
Consolidated Statement of Operations
(Unaudited and in thousands, except per share data and percentages)

Three Months Ended Six Months Ended
March 31, December 31, March 31,
--------------------- ---------- ----------------------
2008 2007 2007 2008 2007
---------- ---------- ---------- ---------- -----------
Product Sales $102,120 $84,893 $101,188 $203,308 $162,480
Toll Services 10,006 9,826 9,677 19,683 18,500
---------- ---------- ---------- ---------- -----------
Total Revenues 112,126 94,719 110,865 222,991 180,980
Cost of sales and
services (exclusive
of depreciation shown
separately below) 92,838 77,371 91,773 184,611 149,140
---------- ---------- ---------- ---------- -----------
Gross Profit(1) 19,288 17,348 19,092 38,380 31,840
Selling, general
and administrative
expense 10,387 9,274 10,603 20,990 17,713
Depreciation and
amortization 1,853 1,855 1,795 3,648 3,611
Impairment,
restructuring
and other costs
(income) (1,598) (654) 198 (1,400) (654)
---------- ---------- ---------- ---------- -----------
Operating income 8,646 6,873 6,496 15,142 11,170
Other income
(expense):
Interest expense,
net (1,096) (838) (1,023) (2,119) (1,502)
Other income
(expense) (68) 88 (133) (201) (167)
---------- ---------- ---------- ---------- -----------
Income from
continuing
operations before
income taxes 7,482 6,123 5,340 12,822 9,501
Provision for
income taxes 2,489 601 1,814 4,303 1,419
---------- ---------- ---------- ---------- -----------
Income from
continuing
operations 4,993 5,522 3,526 8,519 8,082
Income (loss) from
discontinued
operations, net of
income taxes - 1,475 (16) (16) 1,439
---------- ---------- ---------- ---------- -----------
Net income $4,993 $6,997 $3,510 $8,503 $9,521

Preferred Stock
dividends - (82) (1) (1) (390)
Net gain on redemption
of Preferred Stock - - - - 6,023
---------- ---------- ---------- ---------- -----------
Net income applicable
to Common Stock $4,993 $6,915 $3,509 $8,502 $15,154
========== ========== ========== ========== ===========


Basic income from
continuing operations
per common share $0.18 $0.21 $0.13 $0.31 $0.53
========== ========== ========== ========== ===========
Basic net income
per common share $0.18 $0.27 $0.13 $0.31 $0.59
========== ========== ========== ========== ===========

Diluted income from
continuing operations
per common share $0.18 $0.20 $0.13 $0.30 $0.29
========== ========== ========== ========== ===========
Diluted net income
per common share $0.18 $0.26 $0.13 $0.30 $0.34
========== ========== ========== ========== ===========

Basic weighted
average shares
outstanding 27,263,000 25,907,000 26,914,000 27,088,000 25,874,000
========== ========== ========== ========== ===========
Diluted weighted
average shares
outstanding 27,949,000 27,329,000 27,873,000 27,978,000 27,508,000
========== ========== ========== ========== ===========

Gross Margin (2) 17.2% 18.3% 17.2% 17.2% 17.6%

(1) Calculated as Total Revenues minus Cost of Sales and Services,
exclusive of Depreciation Expense.
(2) Calculated as Gross Profit divided by Total Revenues.



ICO, Inc.
Consolidated Balance Sheet
(Unaudited and in thousands, except share data and ratios)

March 31, September 30,
2008 2007
---------- ----------
ASSETS
Current assets:
Cash and cash equivalents $3,403 $8,561
Trade receivables 86,982 95,142
Inventories 74,934 60,420
Deferred income taxes 1,674 1,778
Prepaid and other current assets 9,065 9,924
---------- ----------
Total current assets 176,058 175,825
---------- ----------
Property, plant and equipment, net 62,838 57,396
Goodwill 9,414 9,228
Other assets 3,501 3,768
---------- ----------
Total assets $251,811 $246,217
========== ==========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Short-term borrowings under credit
facilities $26,421 $16,133
Current portion of long-term debt 16,137 11,611
Accounts payable 47,057 66,906
Accrued salaries and wages 6,265 7,313
Other current liabilities 14,011 16,004
---------- ----------
Total current liabilities 109,891 117,967
---------- ----------

Long-term debt, net of current portion 25,931 29,605
Deferred income taxes 4,750 4,820
Other long-term liabilities 3,326 2,783
---------- ----------
Total liabilities 143,898 155,175
---------- ----------

Commitments and contingencies - -
Stockholders' equity:
Convertible exchangeable preferred stock - 2
Undesignated preferred stock - -
Common stock 54,159 47,659
Additional paid-in capital 71,957 74,920
Accumulated other comprehensive income 10,249 5,416
Accumulated deficit (28,452) (36,955)
---------- ----------
Total stockholders' equity 107,913 91,042
---------- ----------
Total liabilities and stockholders'
equity $251,811 $246,217
========== ==========

OTHER BALANCE SHEET DATA
Working capital $66,167 $57,858
Current ratio 1.6 1.5
Total debt $68,489 $57,349
Debt-to-capitalization 38.8% 38.6%



ICO, Inc.
Supplemental Segment Information
(Unaudited and in thousands, except percentages)

Revenues

Three Months Ended % of % of
March 31: 2008 Total 2007 Total Change %
-------- -------- -------- ------ ------- ------
ICO Europe $54,181 48% $42,114 44% $12,067 29%
Bayshore Industrial 20,742 18% 19,901 21% 841 4%
ICO Asia Pacific 19,627 18% 18,483 20% 1,144 6%
ICO Polymers North
America 12,559 11% 10,797 11% 1,762 16%
ICO Brazil 5,017 5% 3,424 4% 1,593 47%
-------- -------- -------- ------ -------
Consolidated $112,126 100% $94,719 100% $17,407 18%
======== ======== ======== ====== =======


Six Months Ended % of % of
March 31: 2008 Total 2007 Total Change %
-------- -------- -------- ------ ------- ------
ICO Europe $100,494 45% $76,381 42% $24,113 32%
Bayshore Industrial 52,519 24% 43,781 24% 8,738 20%
ICO Asia Pacific 37,572 17% 34,096 19% 3,476 10%
ICO Polymers North
America 22,890 10% 20,403 11% 2,487 12%
ICO Brazil 9,516 4% 6,319 4% 3,197 51%
-------- -------- -------- ------ -------
Consolidated $222,991 100% $180,980 100% $42,011 23%
======== ======== ======== ====== =======


Operating income (loss)
Three Months Ended
March 31: 2008 2007 Change
------- ------- --------
ICO Europe $3,520 $2,508 $1,012
Bayshore Industrial 2,782 3,023 (241)
ICO Asia Pacific 761 1,128 (367)
ICO Polymers North
America 2,937 1,752 1,185
ICO Brazil 192 127 65
------- ------- --------
Total Operations 10,192 8,538 1,654
Unallocated General
Corporate Expense (1,546) (1,665) 119
------- ------- --------
Consolidated $8,646 $6,873 $1,773
======= ======= ========


Six Months Ended
March 31: 2008 2007 Change
------- ------- --------
ICO Europe $6,518 $3,183 $3,335
Bayshore Industrial 6,710 6,313 397
ICO Asia Pacific 1,623 1,846 (223)
ICO Polymers North
America 3,383 2,760 623
ICO Brazil 329 204 125
------- ------- --------
Total Operations 18,563 14,306 4,257
Unallocated General
Corporate Expense (3,421) (3,136) (285)
------- ------- --------
Consolidated $15,142 $11,170 $3,972
======= ======= ========


Operating income (loss)
as a percentage of revenues Three Months Ended Six Months Ended
March 31, March 31,
---------------------------------------------
2008 2007 Change 2008 2007 Change
------ ------ ------- ------ ------ -------
ICO Europe 6% 6% 0% 6% 4% 2%
Bayshore Industrial 13% 15% (2%) 13% 14% (1%)
ICO Asia Pacific 4% 6% (2%) 4% 5% (1%)
ICO Polymers North
America 23% 16% 7% 15% 14% 1%
ICO Brazil 4% 4% 0% 3% 3% 0%
Consolidated 8% 7% 1% 7% 6% 1%



ICO, Inc.
Supplemental Segment Information (cont'd.)
(Unaudited and in thousands, except percentages)

Revenues
Three Months Ended
----------------------------------------------------
March 31, December 31,
----------------- ---------------
% of % of
2008 Total 2007 Total Change %
-------- ------- -------- ------ ------- -----
ICO Europe $54,181 48% $46,313 42% $7,868 17%
Bayshore Industrial 20,742 18% 31,777 29% (11,035) (35%)
ICO Asia Pacific 19,627 18% 17,945 16% 1,682 9%
ICO Polymers North
America 12,559 11% 10,331 9% 2,228 22%
ICO Brazil 5,017 5% 4,499 4% 518 12%
-------- ------- -------- ------ -------
Consolidated $112,126 100% $110,865 100% $1,261 1%
======== ======= ======== ====== =======

Operating income
(loss)
Three Months Ended
---------------------------
March 31, December 31,
2008 2007 Change
------- ------- --------
ICO Europe $3,520 $2,998 $522
Bayshore Industrial 2,782 3,928 (1,146)
ICO Asia Pacific 761 862 (101)
ICO Polymers North
America 2,937 446 2,491
ICO Brazil 192 137 55
------- ------- --------
Total Operations 10,192 8,371 1,821
Unallocated General
Corporate Expense (1,546) (1,875) 329
------- ------- --------
Consolidated $8,646 $6,496 $2,150
======= ======= ========




Operating income Three Months Ended
(loss) as a percentage ---------------------------
of revenues March 31, December 31,
2008 2007 Change
------- ------- --------
ICO Europe 6% 6% 0%
Bayshore Industrial 13% 12% 1%
ICO Asia Pacific 4% 5% (1%)
ICO Polymers North
America 23% 4% 19%
ICO Brazil 4% 3% 1%
Consolidated 8% 6% 2%

starting a nice run again!
weeeeeeeeeeeeeeeeeeeeee

Form 8-K for ICO INC

3-Apr-2008

Change in Directors or Principal Officers


Item 5.02 Departure of Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 28, 2008, the Board of Directors of ICO, Inc. (the "Company") approved "periodic" awards of restricted shares ("Restricted Shares") of the Company's common stock ("Common Stock"), pursuant to the terms of the Company's 2008 Equity Incentive Plan for Non-Employee Directors (the "Plan"). The number of "periodic" Restricted Shares awarded to a non-employee director and the vesting date corresponds to the director's term of office.

Awards to Class II Directors:
The Class II non-employee directors, whose terms expire at the 2011 Annual
Meeting of Shareholders, are Daniel R. Gaubert, Kumar Shah and Warren W.
Wilder. The Restricted Shares awarded to these Class II non-employee directors
have terms including the following:

Number of Shares: 12,900*
Date of Grant: April 1, 2008
Vesting Date: February 1, 2011


*12,900 is the number of shares of Common Stock having a fair market value ("FMV," as defined in the Plan) on the Date of Grant equal to $90,000, rounded up to the nearest 100 shares.

Awards to Class I Directors:
The Class I non-employee directors, whose terms expire at the 2010 Annual
Meeting of Shareholders, are Gregory T. Barmore and Charles T. McCord, III. The
Restricted Shares awarded to these Class I non-employee directors have terms
including the following:

Number of Shares: 8,600*
Date of Grant: April 1, 2008
Vesting Date: February 1, 2010


*8,600 is the number of shares of Common Stock having a FMV on the Date of Grant equal to $60,000, rounded up to the nearest 100 shares.

Awards to Class III Directors:
The Class III non-employee directors, whose terms expire at the 2009 Annual
Meeting of Shareholders, are Eric O. English and David E. K. Frischkorn, Jr. The
Restricted Shares awarded to these Class III non-employee directors have terms
including the following:

Number of Shares: 4,300*
Date of Grant: April 1, 2008
Vesting Date: February 1, 2009


*4,300 is the number of shares of Common Stock having a FMV on the Date of Grant equal to $30,000, rounded up to the nearest 100 shares.

At the Company's 2008 Annual Meeting of Shareholders on March 11, 2008, the Company's Shareholders approved an amendment and restatement of the Plan, pursuant to which, among other things: (a) the Plan now allows for awards of Restricted Shares to non-employee directors (previously stock options were the only form of equity-based compensation that could be awarded to the Company's non-employee directors from the Company's equity incentive plans); and (b) the Plan no longer provides for "automatic" annual stock option awards to non-employee directors on the first business day after each Annual Meeting of Shareholders. The structure of the "periodic" Restricted Share awards reflects the Board's current intention that the periodic stock-based incentive

- 2 -

compensation to non-employee directors be awarded at or shortly after the time the director is elected to the Board, with vesting near the end of such director's term of office (which term is generally three years, unless a director is elected to fill a vacancy on the Board or in other exceptional circumstances). After this initial award of unequal amounts of Restricted Shares to each non-employee director, the Board's intention is that periodic awards only be made at the outset of the director's term, rather than on an annual basis.

In addition to the period Restricted Share awards summarized above, the Board approved a discretionary Restricted Share award to the Company's non-executive Chairman of the Board, Gregory T. Barmore, with terms including the following:

Number of Shares: 9,000
Date of Grant: April 1, 2008
Vesting Date: August 13, 2010


With regard to both the "periodic" awards and the discretionary award to Mr. Barmore described above, in the event that the non-employee director is not serving on the Board on the applicable Vesting Date, all Restricted Shares awarded shall be forfeited, except in the case of the death or "permanent disability" (as defined in the Plan) of the non-employee director, or in other exceptional circumstances to the extent authorized or permitted under the Plan. Each award of Restricted Shares to the non-employee directors named above is subject to the terms of a Restricted Stock Agreement between the director and the Company, substantially in the form furnished as Exhibit 10.1 hereto.

a little sideways trading going on here.....slight downtrend.
we need some news and a vol spike to send us back north and greeeeeeeeeeeeeeeeeeeen!

ICO, Inc. Names Andy Ubhi as Vice President of Middle East and India Region and Mohamed Zahir as General Manager of ICO Polymers Middle East
Wednesday March 5, 12:29 pm ET

HOUSTON, March 5 /PRNewswire-FirstCall/ -- ICO, Inc. (Nasdaq: ICOC - News) announced today that Andy Ubhi has joined the Company as Vice President of the Middle East and India Region.

http://www.newscom.com/cgi-bin/prnh/20030509/ICOCLOGO)

In his new role, Mr. Ubhi will be responsible for overseeing the development and management of ICO's business in the region. Mr. Ubhi's responsibilities will include manufacturing, sales, marketing, and new business ventures. He will report to A. John Knapp, Jr., the Company's President and Chief Executive Officer.

Mr. Ubhi has more than 17 years of experience in the broad-based chemicals and plastics businesses, working in various engineering, sales, and market development roles. Prior to joining ICO, he was the Americas Vice President of Sales and Market Development for Multibase, a Dow Corning Company. Prior to his employment with Multibase, he held positions of Vice President at Asahi Kasei Plastics, and Sales Manager and Market Development Manager at GE Plastics. He began his career in 1991 as a manufacturing engineer at Okidata Corporation in Mount Laurel, New Jersey.

Also joining the Company is Mohamed Zahir Bin Hassan Mohamed as General Manager of ICO Polymers Middle East, the Company's manufacturing business based in Dubai, U.A.E. Prior to joining ICO, Mr. Zahir worked with the trading arm of Petronas, known as MITCO, where he held various positions based in Malaysia, India, and Dubai. Prior to his employment with MITCO, Mr. Zahir worked in the commodities trading industry.

"We are committed to the growth of ICO's business in the Middle East and India, and to contributing to the value of our global customers' businesses," said Mr. Knapp. "We believe Mr. Ubhi has the leadership, global industry expertise and vision needed to ensure profitable growth of ICO's business in this region, and with the addition of Messrs. Ubhi and Zahir, we have further strengthened ICO's talented leadership team."

Form 8-K for ICO INC

3-Mar-2008

Regulation FD Disclosure, Financial Statements and Exhibits


Item 7.01 Regulation FD Disclosure.

The Company will post to its website (www.icopolymers.com) an updated investor presentation concerning its products and services generally, financial results, business opportunities, and related matters. This presentation may be used for discussions the Company may have with financial analysts, investors, and other third parties. A copy of the slide presentation is set forth as Exhibit 99.1 hereto and is incorporated herein by reference.

The presentation attached as Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Description
99.1 ICO, Inc. slide presentation dated March 3, 2008.

ICOC financials link
http://finance.yahoo.com/q/is?s=icoc

ICO Inc.F1Q08 (Qtr End 12/31/07) Earnings Call Transcript
ICO Inc. (ICOC)

F1Q08 (Qtr End 12/31/07) Earnings Call

February 08, 2008 11:00 am ET

Executives

John Knapp - President and CEO

Charlotte Ewart - General Counsel, Secretary

Brad Leuschner - CFO

Analysts

Christopher Butler

Jackson Spears

Mitch Almy

Shawn Willard

Dennis Hall

Tim Griffin

Mike Anahan

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to the first quarter FY 2008 Earnings Call. (Operator Instructions).

I will now turn the call over to Mr. John Knapp, Mr. Knapp, you may begin.

John Knapp

Thank you very much. With me today is Charlotte Ewart, our General Counsel, and Brad Leuschner our Chief Financial Officer. And before we can commence with anything Charlotte has a few words to share with us.

Charlotte Ewart

Thanks, John. As always I must caution everyone listening that certain matters discussed in this conference call are forward-looking statements, involving certain risks, uncertainties and assumptions and candidate to qualify for the Safe Harbor's liability established by the Private Securities Litigation Reform Act of 1995. In particular, statements regarding trends in the marketplace and potential future results are examples of such forward-looking statements.

The forward-looking statements include, but are not limited to risks and uncertainties such as restrictions imposed by the Company's outstanding indebtedness, changes in the cost and availability of polymers, demand for the Company's services and products, business cycles and other industry conditions, the Company's ability to manage inventory, the Company's ability to develop technology and proprietary know-how, the Company's lack of asset diversification, its ability to attract and retain key personnel, litigation risks, currently translational risks, risks related to the Company's former oilfield service business, international risks, operational risks and other factors detailed in our Form 10-K for the fiscal year ended September 30, 2007.

The factors discussed in this conference call and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in this call. Any forward-looking statements made during this call are only made as of the date of this call, and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

Back to you, John.

John Knapp

Thanks Charlotte. Brad, will you review the financial results please.

Brad Leuschner

Yes, thank you. Good morning. Our business continued to grow year-over-year as the momentum that we obtained in 2007 lead to the growth we experienced in the first fiscal quarter of 2008 compared with the first fiscal quarter of 2007. Our revenues increased 29% or $24.6 million to a $110.9 million during the first quarter of fiscal year 2008, compared to the first quarter of fiscal 2007. This was a result of an 8% growth in sales and service volumes, a change in product and service sales mix and strong foreign currencies.

The volume growth was driven by continued strong growth in Europe, where volumes were 13%, growth at Bayshore, where volumes grew 7% and Asia-Pacific where we experienced year-over-year volume growth of 10%, much of which was experienced by our operation in Malaysia.

Our gross margins improved compared to the prior year’s first quarter, increasing from 16.8% to 17.2%. This increasing margin along with the increasing revenues improved gross profits from $14.5 million to $19.1 million, an increase of $4.6 million or 32%. Much of the gross profit increase was due to our European operation, which had an increase in gross profit at $2.9 million or 68%. Bayshore and Asia-Pacific also contributed to the increase in gross profits.

Sales, general and administrative expenses increased $2.2 million or 26% to $10.6 million. The increase in SG&A was due to the translation effect from weaker U.S. dollar, an increase in compensation costs due impart to new employees as a result of our growth and due to higher external professional fees.

During the first quarter of fiscal 2008, we incurred $200,000 of additional costs associated with the July 2007 fire in New Jersey. We did not book any additional insurance proceeds during the quarter, but we are working very hard with our insurance carrier regarding further insurance payments.

Operating income increased $2.2 million or 51% to $6.5 million due to the higher gross profits, partially offset by higher SG&A expenses and expenses related to the fire. Europe in Bayshore’s operating income improved the most. ICO Polymers North America's operating income declined $600,000 primarily as a result of the impact from the July fire.

Interest expense was higher by $400,000 due to our higher average debt levels during the first quarter of this year as compared to the first quarter of last year, as a result of financing our higher inventory levels and to finance the redemption of 85% of our preferred stock in the middle of our first quarter of 2007.

Income from continuing operations was $3.5 million or $0.13 per fully diluted share, an improvement from the $0.09 per fully diluted share in the prior year quarter. As a reminder, in the prior year first quarter the effect of the redemption of the preferred stock mentioned earlier, resulted in a gain of $6 million that is included in basic earnings per share, but is not included in diluted earnings per share for the first quarter of the prior year.

Press Release Source: ICO, Inc.

ICO, Inc. Names Andy Ubhi as Vice President of Middle East and India Region and Mohamed Zahir as General Manager of ICO Polymers Middle East
Wednesday March 5, 12:29 pm ET

HOUSTON, March 5 /PRNewswire-FirstCall/ -- ICO, Inc. (Nasdaq: ICOC - News) announced today that Andy Ubhi has joined the Company as Vice President of the Middle East and India Region.

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(Logo: http://www.newscom.com/cgi-bin/prnh/20030509/ICOCLOGO)

In his new role, Mr. Ubhi will be responsible for overseeing the development and management of ICO's business in the region. Mr. Ubhi's responsibilities will include manufacturing, sales, marketing, and new business ventures. He will report to A. John Knapp, Jr., the Company's President and Chief Executive Officer.

Mr. Ubhi has more than 17 years of experience in the broad-based chemicals and plastics businesses, working in various engineering, sales, and market development roles. Prior to joining ICO, he was the Americas Vice President of Sales and Market Development for Multibase, a Dow Corning Company. Prior to his employment with Multibase, he held positions of Vice President at Asahi Kasei Plastics, and Sales Manager and Market Development Manager at GE Plastics. He began his career in 1991 as a manufacturing engineer at Okidata Corporation in Mount Laurel, New Jersey.

Also joining the Company is Mohamed Zahir Bin Hassan Mohamed as General Manager of ICO Polymers Middle East, the Company's manufacturing business based in Dubai, U.A.E. Prior to joining ICO, Mr. Zahir worked with the trading arm of Petronas, known as MITCO, where he held various positions based in Malaysia, India, and Dubai. Prior to his employment with MITCO, Mr. Zahir worked in the commodities trading industry.

"We are committed to the growth of ICO's business in the Middle East and India, and to contributing to the value of our global customers' businesses," said Mr. Knapp. "We believe Mr. Ubhi has the leadership, global industry expertise and vision needed to ensure profitable growth of ICO's business in this region, and with the addition of Messrs. Ubhi and Zahir, we have further strengthened ICO's talented leadership team."