8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  June 13, 2008

____________________

ICO, INC.

(Exact name of registrant as specified in its charter)

Texas (State or other jurisdiction of incorporation) 0-10068 (Commission File Number) 76-0566682 (I.R.S. Employer Identification No.)

1811 Bering Drive, Suite 200

Houston, Texas 77057

(Address of principal executive offices and zip code)

(713) 351-4100

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ICO, INC.
Date: June 13, 2008	By:	/s/ Bradley T. Leuschner
	Name:	Bradley T. Leuschner
	Title:	Chief Financial Officer and
		Treasurer

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EX-99.1

Investor Update

June 12, 2008

1

Certain matters discussed in this presentation are “forward-looking statements,” involving certain risks,
uncertainties, and assumptions, intended to qualify for the safe harbors from liability established by the Private
Securities Litigation Reform Act of 1995.   The Company’s 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, currency translation risks,
risks related to the Company’s former oilfield services business, international risks, operational risks, and
other factors detailed in the Company's form 10-K for the fiscal year ended September 30, 2007.  The factors
discussed herein 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 or
implied by such statements.  The forward-looking statements are made only as of the date indicated on the first
page of this presentation, and the Company undertakes no obligation to publicly update or revise such forward-
looking statements to reflect subsequent events or circumstances.

2

About the Company

3

ICO at a Glance

§900 Employees

§20 Plants/Warehouses

§Organized into 5 regions: Bayshore, ICO Polymers North America, ICO Europe, ICO Asia Pacific, ICO Brazil

§66% of revenues derived internationally

§Ranked 20th by the Houston Chronicle on the May 2008 list of top 100 public companies based in Houston

4

Revenues for the six months ended March 31, 2008

 ICO

Brazil

4%

 ICO

Europe

45%

 Bayshore

Industrial

24%

 ICO

Asia Pacific

17%

 ICO

Polymers

North

America

10%

 U.S.

34%

International

66%

Oil & Gas
Exploration
and
Production

Ethane,
Propane,
Naphtha

Polymer
Producers:
PE, PP, PS,
PVC

End Product
Converters:tank
producers,
film manufacturers,
toy makers,
molders

Ethylene,
Propylene,

Styrene,

Vinyl
Chloride

ASSETS UTILIZED

Processors:
ICO Polymers/
Bayshore Industrial

Drilling rigs,
production
equipment, etc.

Additives

Compounding/
grinding

Injection molding, blow
molding, rotational
molding

Monomer
Production

Post

Reactor

Processing

ICO’s “Fit” in the Value Chain

5

6

Compounds, including Concentrates
Produced by Bayshore Industrial

Products & Services

Custom Powders for Rotational molding

■ Proprietary ICORENE® and COTENE® product lines
sold across the globe

■ Business built on value-adds, such as:

-Grades tailored to client, driven by application

- R&D and technical sales support worldwide
- Partnering with key customers

■Sample applications of our product

- Water tanks- Agricultural Products

- Toys- Kayaks

- Playground equipment - Road “Furniture”

- Bins

Other Polymer Powder Markets

■ Proprietary ICOTEX™ and ICOFLO™lines - - for

textiles (applications: carpet backing, clothing) and

carrier powders for color and additive masterbatch

customers
■ Regional expertise in other areas

such as the oilfield service and

metal coating industries

■ Products primarily for the plastic film

 (packaging) industry
■ Products produced include:
- Masterbatches/Concentrates
- Specialty compounds

■ Markets served:

- North America

- Malaysia

- Select export markets

■ Sample applications of our product:

- Shopping bags

- Food packaging

- Industrial Film

- Electronic packaging

6

■Ambient Grinding - high-volume, typically moderate
value-add service

■Cryogenic Grinding - greater value-add and requiring

more technical expertise to serve the market for heat
sensitive materials

■Jet Milling - greater value-add and requiring more

technical expertise for ultrafine particle size

■ Other related services:

-Compounding

-Blending

-Packaging

-Warehousing

Products & Services

■Wide range of tolling opportunities

globally, including:

-Rotomolding

-Oilfield services

-Textiles

-Metal coatings

-Agricultural

-Paints

-Wood composites

-Soaps/cosmetics

Size Reduction Services

7

Verolanuova, IT

Soreco, FR

Montereau, FR

Beaucaire, FR

Gainsborough, UK

’s-Gravendeel, NL

Global Platform

ICO North America

China, TX

Fontana, CA

Asbury, NJ

(Relocating to PA)

Grand Junction, TN

East Chicago, IN

Bayshore MB

Compounding - - LaPorte, TX

Global Platform ICO Asia-Pacific

ICO Malaysia

ICO New Zealand

ICO Australia Brisbane

ICO U.A.E

ICO Australia Melbourne

11

Global Platform ICO Polymers Brazil

Belo Horizonte, Brazil

11

Americana, Brazil

*Six months ended

March 31, 2008

Historical Financial Performance

13

Historical Financial Performance

13

Second Quarter 2008 Financial 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

$ in millions, except per share data

6 Months

Q2 2008

Q2 2007

Q1 2008

FY 2008

FY 2007

Revenues

Gross Profit

19.3

17.3

19.1

38.4

31.8

Gross Margin

17.2%

18.3%

17.2%

Operating Income

8.6

6.9

6.5

15.1

11.2

Income from Continuing Operations

5.0

5.5

3.5

8.5

8.1

EPS-Diluted from Continuing Operations

0.18

$

0.20

$

0.13

$

0.30

$

0.29

$

Volumes (Metric Tons)

83,600

82,000

81,900

165,500

158,000

Historical Financial Performance- Cont’d

 $ in millions

Operating Margin Breakdown

15

17%

9%

7%

18%

9%

7%

20%

11%

7%

18%

12%

3%

19%

13%

2%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%

Six months ended

March 31, 2008

FY 2007

FY 2006

FY2005

FY2004

Gross Margin

SG&A

Operating Margin

FY2007 Return on Assets by Business Segment

(a) ROA is calculated by dividing operating income by total assets.

Value Creation Opportunities - FY 2008 and Beyond

■Capitalize on global platform

•Cultivate global customer relationships

•Further develop strategic raw material supply relationships

■Profitably growplant opened in 2007 in the Middle East (Dubai)

■Profitably grow our business in Brazil and South America

■Profitably grow Bayshore product line in Malaysia installed in 2007

■Explore expansion opportunities in Europe

■Explore expansion opportunities of Bayshore product line

■Aggressively grow oilfield service product sales

■Continue overall growth and take advantage of operating leverage (i.e. cost control)

■Explore potential strategic acquisitions

17