Sono-Tek Corporation designs and manufactures precision ultrasonic coating systems that apply thin-film coatings for electronics, medical device, energy, industrial, and research applications worldwide. Company news commonly covers customer orders for medical device coating systems, including MediCoat and ExactaCoat MD platforms, as customers move from development and early production toward higher-capability manufacturing lines. Updates also address technical collaborations for advanced materials processes, quarterly financial results, backlog trends, gross margin commentary, and demand conditions across medical, alternative energy, microelectronics, and industrial markets.
Sono-Tek (Nasdaq: SOTK) announced a notable 40% increase in net sales for the first quarter of fiscal 2025, totaling $5.03 million compared to $3.60 million in the prior year. The gains were driven by strong shipments to the Medical and Alternative/Clean Energy markets. Gross profit rose by 38% to $2.45 million, while operating income improved significantly to $238,000 from a loss of $92,000. Despite a slight dip in gross margins to 48.8%, net income saw a remarkable jump of 525% to $331,000. Cash and marketable securities grew to $12.2 million, with no outstanding debt. The equipment and service-related backlog stood at $7.83 million by quarter-end. Sono-Tek forecasts a 2%-5% sales increase for the second quarter and anticipates sustained growth throughout fiscal 2025.
Sono-Tek (Nasdaq: SOTK) reported a significant financial upturn for Q1 of FY2025, ending May 31, 2024. Net sales surged by 40% to $5.03 million, driven by demand in Medical and Alternative/Clean Energy markets. Gross profit increased by 38% to $2.45 million. The company transitioned from an operating loss to an operating income of $238,000. Net income skyrocketed by 525% to $331,000, or $0.02 per share. Despite a slight decrease in gross margin to 48.8%, the company’s cash reserves grew to $12.2 million with no outstanding debt. Equipment and service backlog decreased by 16% to $7.83 million. Sono-Tek projects a 2%-5% sales growth for Q2 FY2025 and continued growth for the entire fiscal year.
Sono-Tek (NASDAQ: SOTK) reported record-breaking financial results for fiscal year 2024, ending February 29, 2024. Key highlights include a 31% increase in net sales to $19.7 million and a 29% rise in gross profit to $9.8 million. Operating income surged by 73% to $1.2 million, while net income more than doubled to $1.4 million. The backlog at year-end rose 7% to $9.1 million. The company remains debt-free with cash and equivalents totaling $11.8 million. For fiscal year 2025, Sono-Tek projects revenue growth of 8% to 10%. Strong demand continues in key markets like microelectronics, clean energy, and medical devices.
Sono-Tek (NASDAQ: SOTK), a leading developer and manufacturer of ultrasonic coating systems, will hold a conference call to discuss its year-end fiscal year 2024 financial results on May 23, 2024, at 9:30 am ET.
The financial results, covering the period ending February 29, 2024, will be issued prior to the market opening on the same day.
Interested parties can dial 1-844-481-2752 to participate in the call or access the webcast on the company's website. A replay will be available through May 30, 2024, via phone or on the company's website for one year.
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