Ultrasonic Spray Nozzles Industry Expertise Products Company Investors Customer Reviews
  • Categories >>
  • Electronics
  • Energy
  • Medical
  • Glass
  • Food
  • Textiles
  • Nanotechnology
  • Industrial
  • Categories >>
  • Electronics
  • Energy
  • Medical
  • Glass
  • Food
  • Textiles
  • Nanotechnology
  • Industrial
test

Sono-Tek Announces First Quarter Results and Second Quarter Guidance

(July 14, 2017 – Milton, NY) Sono-Tek Corporation (OTC QX: SOTK) today announced sales of $2,512,000 for the three months ended May 31, 2017 compared to sales of $2,240,000 for the prior year period, an increase of $272,000 or 12%. The first quarter’s increase represents a positive change in direction from last year’s comparable quarter, where the Company experienced lower revenues due to global economic uncertainty. The Company’s sales of certain printed circuit board fluxing equipment as well as medical device coating equipment led the way upward compared to the prior year’s first quarter. Based on strong proposal activity and backlog, the Company expects to see a continued upward trend in revenues for the second quarter and likely beyond. The Company is experiencing strong customer interest and purchases of its more sophisticated robotic coating equipment for fuel cell and other advanced applications. Globally, Europe and Asia both seem much more energized in their spending than last year.

The Company reported operating income of $19,000 for the three months ended May 31, 2017 compared to an operating loss of $140,000 for the prior year period, an increase of $159,000. The prior year period’s operating loss was due primarily to a decrease in sales in that quarter.

The Company reported net income of $16,000 for the three months ended May 31, 2017, compared to $56,000 for the prior year period, a decrease of $40,000. However, the prior year period included a one-time, non-recurring “Other Income” amount of $200,000, which offset what would have been a net loss due to the lower revenues in last year’s comparable quarter.

Dr. Christopher L. Coccio, Sono-Tek’s Chairman and CEO, stated that, “We are pleased to see that our business is advancing, as viewed from the increasing activity levels, and this quarter’s results and next quarter’s anticipated results. We will be communicating these trends at our Annual Shareholders Meeting on August 24, 2017, and we invite Shareholders to join us at the Buttermilk Falls in Milton, NY at 10 am that day. We are targeting double digit sales growth compared to last year, based on both improved global economic conditions and our continued progress in creating new market applications through technology development around our core ultrasonic coating systems.”

For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit our website at www.sono-tek.com

Sono-Tek Corporation is the world leader in ultrasonic spray systems for applying precise, thin film coatings. Founded in 1975, the Company’s products have long been recognized for their performance, quality, and reliability.

1q

This earnings release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general global, European and Asian economic and business conditions; political, regulatory, competitive and technological developments affecting our operations or the demand for our products, including printed circuit board fluxing equipment, medical device coating equipment and sophisticated robotic coating equipment for fuel cell and other advanced applications; timely development and market acceptance of new products; adequacy of financing; capacity additions, the ability to enforce patents, maintenance of order backlog, consummation of order proposals, the ability to achieve increased sales volume at projected and targeted levels for the second quarter and current fiscal year and to maintain profitability. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-K and Form 10-Qs containing additional important information.

Sono-Tek Announces Fiscal Year 2017 Results and First Quarter 2018 Guidance

(May 25, 2017 – Milton, NY) Sono-Tek Corporation (OTC QX: SOTK) today announced sales of $9,725,000 for the fiscal year ended February 28, 2017 compared to sales of $11,834,000 for the previous fiscal year, a decrease of $2,109,000 or 18%. On a positive note, the Company showed increased revenues in each subsequent quarter after a slow start in the first quarter of the fiscal year ended February 28, 2017. The current year’s sales decrease was primarily driven by lower demand for float glass line coating equipment and textile coating machinery. A continued strong US dollar and political uncertainty in several foreign markets also negatively affected sales, most significantly from Europe and Latin America. Based on current backlog, shipments, and proposals, the Company is expecting to see an increase in revenue for the first quarter of the new fiscal year (March-May 2017) compared to last year’s first quarter. The Company is targeting growth in revenue for fiscal year 2018 based on several new products and applications, as well as the anticipated improving tax and regulatory climate in the US.

The Company had net income of $96,000 or $.01 per share, compared to $548,000 or $.04 for the previous fiscal year. During fiscal 2017, the Company continued to invest resources in its new product development and associated sales and marketing efforts, despite the reduction in revenues. The Company believes that this continued investment, is the correct strategy to improve its continuing technology and market expansion opportunities.

Dr. Christopher L. Coccio, Sono-Tek’s Chairman and CEO, stated that, “We are pleased with the ongoing strength of our business, as evidenced by generating over $815,000 of additional cash and cash equivalents in a year of reduced sales and income, while also continuing our technology and market developments. Much of our cash generation and increasing balance sheet strength is attributable to the implementation of a successful LEAN manufacturing program this past year. The LEAN program focuses on creating significant reductions in our inventory levels, which in turn led to the improvement in our cash position.”

earnings 2017

For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit our website at www.sono-tek.com

Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company’s products have long been recognized for their performance, quality, and reliability.

This earnings release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions, including the recently improved US tax and regulatory climate; political, regulatory, competitive and technological developments affecting our operations or the demand for our products; continued investment in the development and marketing of new products and the timely deployment and market acceptance of such products; adequacy of financing; capacity additions; the ability to enforce patents; the continued successful implementation of our Lean manufacturing program; and maintenance of order backlog, consummation of order proposals, and the ability to achieve increased sales volume at projected levels and continued profitability. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-K and Form 10-Qs containing additional important information.

Click Below for Your FREE Complimentary Pass to SEMICON WEST 2017

Sono-Tek Announces Preliminary Fiscal Year 2017 Results and First Quarter 2018 Sales Guidance

(March 17, 2017 – Milton, NY) Sono-Tek Corporation (OTCQX: SOTK) today announced preliminary sales of $9,725,000 for the fiscal year ended February 28, 2017, compared to sales of $11,834,000 for the previous fiscal year, a decrease of $2,109,000 or 18%. However, during fiscal year 2017, the Company showed positive revenue gains in each quarter when compared to a slow first quarter. The current year’s sales decrease was primarily due to decreases in sales of float glass line coating equipment, combined with a strong U.S. dollar and slower sales to China. Some of the Company’s opportunities in China have been negatively impacted by China’s 2015 implementation of a “China First” policy that focuses on developing internal companies and products with government assistance to create technology that competes with foreign suppliers. Based on current backlog, shipments, and proposals, the Company is expecting to report increased sales for the first quarter of the new fiscal year (March-May 2017) compared to last year’s first quarter. The Company is targeting growth in revenues for fiscal year 2018 based on several new products and applications, as well as the improving tax and regulatory climate anticipated in the U.S.

The Company expects to report income before taxes of $66,000 for the year ended February 28, 2017 compared to $742,000 for the year ended February 28, 2016. The Company’s results will be finalized once the independent audit is completed in May 2017. During fiscal 2017, the Company chose to continue its spending for new product development and associated sales and marketing, even though it was experiencing a decrease in sales. The Company believes that continued investment is the correct strategy to advance its technology market expansion opportunities.

Dr. Christopher L. Coccio, Sono-Tek’s Chairman and CEO, stated that, “We are pleased with the ongoing strength of our business, as evidenced by generating over $600,000 of expected additional cash and cash equivalents in a year of reduced sales and income, while also continuing our technology and market developments. Much of our cash generation and increasing balance sheet strength is attributed to the implementation of a successful LEAN program this past year. This program has resulted in a significant reduction in the inventory levels needed in our business, which led to the improvement in our cash position.”

For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit our website at www.sono-tek.com.

Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company’s products have long been recognized for their performance, quality, and reliability.

This earnings release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, the completion and results of the audit of Sono-Tek’s results of operations for the year ended February 28, 2017; general economic and business conditions; political, regulatory, competitive and technological developments affecting our operations or the demand for our products; improving U.S. tax and regulatory conditions; continued implementation of LEAN manufacturing and successful reduction of inventory; continued investment in new products and their timely development and market acceptance; adequacy of financing; capacity additions, the ability to enforce patents, maintenance of order backlog, consummation of order proposals, and the ability to achieve increased sales volume and improved cash flows at projected levels and continued profitability. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-K and Form 10-Qs containing additional important information.

Sono-Tek Announces Third Quarter Results and Fourth Quarter Sales and Earnings Guidance

(January 17, 2017 – Milton, NY) Sono-Tek Corporation (OTC QX: SOTK) today announced sales of $2,599,000 for the three months ended November 30, 2016, compared to sales of $3,032,000 for the prior year period, a decrease of $433,000 or 14%. Although not directly reported, a comparison of the three months ended November 30, 2016 to the three months ended August 31, 2016 showed an increase in sales of $289,000 or 13%, continuing an upward trend for this Fiscal Year. The current quarter’s sales increase is attributable to the sale of a float glass coating line to a customer in Asia. Based on the Company’s backlog, recent shipments, and proposals, the Company is expecting another increase in sales for the fourth quarter of this Fiscal Year in comparison to earlier quarters this year. As mentioned in previous quarterly reports and releases this year, lower sales compared to a year ago have been due to global economic factors, including the strong US dollar, coupled with lower activity in the glass, medical, and electronics markets this year.

The Company reported net income of $62,000 for the three months ended November 30, 2016 compared to $244,000 for the prior year period, a decrease of $182,000. The Company reported net income of $28,000 for the nine months ended November 30, 2016 compared to $541,000 for the prior year period, a decrease of $513,000. The Company expects to report continuing profitability in the fourth quarter, based on its current backlog and shipments to date.

Dr. Christopher L. Coccio, Sono-Tek’s Chairman and CEO, stated that, “We will continue our focus on creating new products and market segments regardless of short-term macroeconomic conditions, and implementing a broad based LEAN manufacturing approach that has been freeing up cash reserves and streamlining our operations.”

For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit our website at www.sono-tek.com

Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company’s products have long been recognized for their performance, quality, and reliability.

3Q17earnings2017-2

This earnings release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions; political, regulatory, competitive and technological developments affecting our operations or the demand for our products; timely development and acceptance of new and existing products in the glass, medical, and electronics markets; adequacy of financing; capacity additions, the ability to enforce patents; the continued strength of the US dollar; the effectiveness of our LEAN manufacturing program; and the ability maintain order backlog, achieve increased sales volume at projected levels and continued profitability. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-K and Form 10-Qs containing additional important information.