Welcome to our dedicated page for Sono Tek news (Ticker: SOTK), a resource for investors and traders seeking the latest updates and insights on Sono Tek stock.
Sono-Tek Corporation (NASDAQ: SOTK), a pioneer in ultrasonic coating systems since 1975, maintains this dedicated news hub for investors and industry professionals. Access verified press releases and financial updates covering the company’s advancements in precision thin-film deposition technology across medical devices, clean energy solutions, and semiconductor manufacturing.
This resource consolidates essential updates including quarterly earnings reports, product launch announcements, strategic partnerships, and operational developments. Discover how Sono-Tek’s ultrasonic spray systems enable material-efficient coatings for next-generation solar cells, medical implants, and microelectronics production.
Key content categories include regulatory filings, technology patents, manufacturing expansions, and executive leadership updates. All materials are sourced directly from company communications to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to SOTK’s latest business developments. Combine these primary sources with market analysis tools for comprehensive investment research into ultrasonic coating applications and industrial manufacturing trends.
Sono-Tek Corporation (Nasdaq: SOTK) held its Annual Shareholders Meeting on August 18, 2022, discussing its strong Fiscal Year 2022 results. Revenue reached $17.1 million, a 16% increase, while net income more than doubled to $2.5 million. The company reported an 11% revenue growth and a 17% net income rise in Q1 FY2023 compared to the prior year. Despite supply chain delays impacting interim results, Sono-Tek maintains a solid cash position of over $10 million and zero debt, positioning it well for future opportunities in the semiconductor, medical device, and clean energy sectors.
Sono-Tek Corporation (SOTK) announced a significant order worth $1.1 million from the clean energy sector, marking the largest such order in its history. This order aligns with the company's growth strategy focused on providing full system solutions. Expected to ship in spring 2023, this deal indicates increasing demand for Sono-Tek's ultrasonic coating systems, crucial for emissions reduction in manufacturing. The company highlighted its engineering expertise, pivotal in transitioning clients from R&D to production volumes, thus potentially leading to more orders in the clean energy space.
Sono-Tek Corporation (Nasdaq: SOTK) reported its first quarter fiscal 2023 results, revealing net sales of $4.05 million, an increase of 11% year-over-year, primarily driven by demand in the medical, alternative energy, and R&D sectors. Gross profit rose 16% to $2.11 million, with a gross margin of 52%. Net income also increased by 17% to $306,000, while backlog remained stable at $4.2 million. However, a cautious outlook for the second quarter was noted due to customer project delays.
Sono-Tek Corporation (NASDAQ: SOTK) announced its expected inclusion in the Russell 3000® Index as of June 27, 2022. This milestone signifies the company's growth and enhances visibility among investors, potentially broadening its shareholder base. The Russell 3000® Index encompasses the 4,000 largest U.S. stocks, providing a benchmark for numerous investment strategies. CEO Dr. Chris Coccio highlighted that this inclusion reflects Sono-Tek's progress, including its uplisting to the Nasdaq Capital Market and significant growth over the past year.
Sono-Tek Corporation (NASDAQ: SOTK) announced its participation in the Sidoti Summer Virtual Investor Conference on June 15-16, 2022. The presentation, led by Dr. Chris Coccio (Chairman and CEO) and Steve Harshbarger (President and COO), will take place on June 15 at 10:45 AM ET. This event offers investors a chance to engage in one-on-one meetings. Interested parties can register for the presentation at www.sidoti.com/events. Additionally, Sono-Tek's investor presentation will be available on their website on the same day.
Sono-Tek Corporation (NASDAQ: SOTK) reported strong financial results for fiscal year 2022, with net sales reaching a record $17.1 million, a 16% increase from fiscal 2021. Gross profit rose 23% to $8.6 million, enhancing the gross margin to 50.3%. The backlog also increased by 38% year-over-year, totaling $5.3 million. Net income surged 127% to $2.5 million, driven by improved operating income and effective cost management. The company projects continued growth in fiscal 2023, focusing on key markets like microelectronics, clean energy, and medical devices.
Sono-Tek Corporation (NASDAQ: SOTK) announced a conference call on May 24, 2022, at 10:00 am EST to discuss its fourth quarter and fiscal year 2022 financial results, ending February 28, 2022. The results will be disclosed before the market opens on the same day. Investors can participate by calling 1 (877) 270-2148 or viewing a live webcast through the company's website. Sono-Tek specializes in ultrasonic coating systems aimed at various industries, emphasizing environmentally-friendly and efficient solutions.
Sono-Tek Corporation (NASDAQ: SOTK) announced its preliminary sales for FY2022 at approximately $17.1 million, marking a 16% increase from $14.8 million the previous year. Operating income also rose to $1.8 million, up 38% from $1.3 million. The company achieved significant growth across all quarters, especially in Q4 with $5 million in revenue. A strong backlog of $10.7 million and no debt position the company favorably for FY2023, with expected revenue growth of over 15% in Q1.
Sono-Tek Corporation (SOTK) reported Q3 fiscal 2022 sales of $4.4 million, up 15% year-over-year. Gross profit rose 12% to $2.16 million, with a gross margin of 48.9%. Backlog reached a record $6.5 million, a 69% increase from the previous year. Operating income increased 10% to $491,000, with net income up 17.5% to $376,000. The company anticipates double-digit sales growth for Q4 and FY2022, expecting its highest annual sales in corporate history.
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