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Corporate Profile

Corporate Profile


Updated September 2016

Founded: 1975
Stock Symbol:
OTCQX: SOTK
Sector: Technology
F/T Employees: 60
Corporate Headquarters:
Sono-Tek Industrial Park
2012 Route 9W
Milton, NY 12547 USA
845-795-2020
Distribution Network: Worldwide

Contacts

Primary IR Contact
Stephen Bagley
Sono-Tek Corporation
Investor Relations
Email: info@sono-tek.com

Transfer Agent
American Stock Transfer Company
6201 15th Ave.
Brooklyn, NY 11219
www.amstock.com

Corporate Counsel
David M. Henkoff
Eilenberg & Krause LLP
11 East 44th St.
New York, NY 10017
www.eeklaw.com

Independent Auditors
Liggett & Webb, P.A.
432 Park Avenue South
New York, NY 10016

Management
Chairman and CEO
Christopher L Coccio, PhD

President
R. Stephen Harshbarger

Chief Financial Officer
Stephen J Bagley, CPA

Vice President, Engineering
Robb Engle

Director, Manufacturing
Edward Bozydaj







Sono-Tek offers a broad portfolio of ultrasonic atomization based spraying and coating systems for the Electronics, Semiconductor, Advanced Energy, Medical Device, Glass, Textile, and Food industries. The common denominator in this growing list of applications is the benefit of thinner, more precise coatings, superior product quality, and savings in material costs of expensive coating liquids. A significant side benefit of ultrasonic atomization is the lack of overspray into the environment compared to traditional pressure spraying systems.

Ultrasonic Spray Technology

Sono-Tek ultrasonic spray technology and equipment deliver precise, validated thin layer coatings, uniformly distributed across the target. Sono-Tek customers benefit from enhanced capabilities to manufacture a superior quality product, at a significantly lower cost of goods, with energy savings and lower environmental impact.

Sono-Tek ultrasonic spray coating often replaces conventional technologies such as pressure assisted spraying systems and CVD, and benefits its users both functionally and financially.

The technology is used in numerous multi-million dollar growth markets, where superior coating quality (thin layer, uniform) of expensive liquids, is a price of entry. Sono-Tek has patents, trade secrets and experience which span over more than 30 years in the field. Strong application support, along with the modular, scalable design of our systems, enables customers to accelerate their product development cycle, and transition their new products from concept stage to the marketplace – fast.

Sono-Tek operates five development laboratories and pilot plants globally in conjunction with our global distribution partners, where new customers can quickly evaluate the compatibility of their liquids with the ultrasonic atomization technology, and where process parameters can be determined, and overall feasibility and economy evaluated. The company is focused on maintaining stable growth, with the introduction of next generation systems, and with intensifying our global reach.

Markets & Products

Electronics Industry – Fluxing equipment for printed circuit board assembly: SonoFlux, SelectaFlux

Fuel Cell and Solar Cell Manufacturing – Robotic coaters for specialty layers: ExactaCoat, FlexiCoat

Semiconductor Industry – Specialty coating: Nozzle Systems

Glass Industry – Protective and specialty coatings during and after the glass manufacturing process: WideTrack Coating Systems

Medical Industry – Equipment to apply advanced coatings to implantable medical devices such as stents, balloons, meshes, etc: MediCoat Coating Systems

Food Industry – Equipment for the application of antimicrobials in meat processing, other food coating for other food products: WideTrack Coating Systems

Textile and Fabric Industry – Application of water repellents, antimicrobials, fire retardants, etc: WideTrack Coating Systems

Customers

Sono-Tek has expanded to serve thousands of customers both in the US and overseas, and we have had recent years with over 60% of our sales to the international market, while last year it was more balanced between the US and overseas. We currently serve the market segments shown above, and have quadrupled in size over the past decade by pioneering new applications and customers for our technology. Our customer base is diverse, and includes the major circuit board manufacturers and their contract manufacturers, fuel and solar cell companies engaged in development and manufacturing, European and Asian semiconductor producers, international glass companies, major food companies in the US and overseas, and domestic textile producers. Our future plan is to continue adding additional market applications for ultrasonic spraying and coating, thus growing the business further.

Plan for the Future

Sono-Tek in the 1990’s was focused on the US and Mexican printed circuit board market, and was a $3M company, Since 2004 we have been diversifying our geographical footprint and our market offerings as noted above, and we have tripled in sales and income as a result. Going forward, we are targeting $20M by 2020. We have added a New Product Development Team to focus on additional ultrasonic coating products and markets as their primary task to help us achieve this goal.