Sono Tek Corp Stock Price, News & Analysis

Sono-Tek Corporation (NASDAQ: SOTK) has announced a significant expansion of its laboratory facilities in New York to meet the rising demand for its ultrasonic coating machinery, which applies catalyst coatings onto membranes for clean energy applications. The expansion includes three new coating platforms and increased lab space. This move is part of Sono-Tek's strategy to cater to the growing customer base in the carbon capture, fuel cell, and electrolysis markets, with expectations of continued sales growth in production-level machines.

Sono-Tek Corporation (NASDAQ: SOTK) reported impressive Q2 FY2022 results with net sales reaching $4.07 million, a 17% increase year-over-year. Net income soared 93% to $344,000, while backlog surged 64% to a record $6.33 million. Operating income also rose significantly by 123% to $449,000, reflecting strong sales in the semiconductor and diagnostic coating markets, particularly in China. Gross profit saw a 28% increase, resulting in a gross margin of 51%. The company anticipates continued double-digit sales growth for the upcoming quarters.

Sono-Tek Corporation (NASDAQ: SOTK) announced a conference call to discuss its second quarter and first half fiscal year 2022 financial results, scheduled for October 13, 2021, at 11:00 AM EST. A press release with the financial results will be issued before the market opens on the same day. The company specializes in ultrasonic coating systems designed for various markets including microelectronics, alternative energy, and medical applications. Sono-Tek emphasizes environmentally friendly and efficient solutions aimed at reducing overspray and material costs.

Sono-Tek Corporation (Nasdaq: SOTK), a leader in ultrasonic coating systems, will present virtually at the 14th annual Main Event on October 12th at 9:30 AM ET. Dr. Christopher L. Coccio, Chairman and CEO, and Steve Harshbarger, President and COO, will share insights on operational trends and growth outlook following their recent Nasdaq uplisting. The three-day virtual investor conference will showcase approximately 150 companies. To watch the presentation, register here.

Sono-Tek Corporation (NASDAQ: SOTK) announced a new program aimed at enhancing its applications expertise in emerging markets with significant growth potential. The initiative focuses on developing coating knowledge for next-generation technology-based products. The company plans to allocate resources, including application engineers, to explore these markets, anticipating capturing opportunities during customer product development. This strategic move aligns with Sono-Tek's projection to achieve record revenue in fiscal year 2022, ending February 28, 2022.

Sono-Tek Corporation (Nasdaq: SOTK), a leader in ultrasonic coating systems, will ring the Nasdaq Stock Market Closing Bell on September 3, 2021. This event marks a significant milestone following the start of trading of its common shares on the Nasdaq Capital Market on August 27. Dr. Christopher L. Coccio, CEO, expressed pride in this achievement, highlighting the company’s innovative products for global markets, including microelectronics and medical applications. Sono-Tek aims to leverage its technologies for continued growth in environmentally-friendly coating solutions.

Sono-Tek Corporation (SOTK) has received approval to list its common stock on the Nasdaq Capital Market, effective August 27, 2021. This uplisting marks a key milestone for the company, enhancing its visibility in the investment community and potentially increasing institutional ownership and trading liquidity. The company specializes in ultrasonic coating systems for various industries, promoting environmentally-friendly and efficient solutions. The leadership believes this move reflects their years of dedication and strategic growth initiatives aimed at creating long-term shareholder value.

Sono-Tek Corporation (SOTK) held its Annual Shareholders Meeting on August 19, 2021, discussing Fiscal Year 2021 results. Revenue was flat at $14.8 million, with net income unchanged at $1.1 million. The company reported a 6% revenue increase and 56% net income growth in Q1 2022 compared to the previous year. Sono-Tek anticipates stronger revenue in Q2 2022 and aims for record sales this fiscal year. The company is focusing on sectors like semiconductors, medical devices, and clean energy, driven by climate change concerns.

Sono-Tek Corporation (SOTK) reported Q1 FY2022 sales of $3.64M, up 6% year-over-year, driven by demand in the semiconductor and electronic diagnostic markets. Gross profit rose 17% to $1.82M with a gross margin of 50%. Operating income increased 86% to $343K, while net income rose 56% to $261K, excluding $1M from PPP forgiveness. Backlog increased 14% to $4.38M. The company projects double-digit sales growth in Q2 and its highest annual sales in history for FY2022.