Sono-Tek Corporation - SOTK STOCK NEWS

Sono-Tek (SOTK) has announced a $2.0 million share repurchase program of its outstanding common stock. The company plans to fund the buyback through existing cash and future cash flows, with approximately $11.6 million in cash, cash equivalents, and marketable securities as of August 31, 2024. The program will be executed through open market purchases or other means via Rule 10b-18, with timing and volume at the company's discretion. Sono-Tek has 15,751,000 shares outstanding and maintains a debt-free balance sheet.

Sono-Tek (Nasdaq: SOTK), a leading developer and manufacturer of ultrasonic coating systems, announced its participation in Spartan Capital Securities' inaugural investor conference. The event will take place on November 4th at the Pierre Hotel in New York. CEO & President Steve Harshbarger will deliver a presentation at 2:20 PM ET. Interested investors can register for one-on-one meetings through Spartan Capital's conference page.

Sono-Tek (Nasdaq: SOTK) reported financial results for Q2 and H1 of fiscal year 2025. Key highlights include:

- Q2 revenue of $5.2 million, down 8% YoY but up 3% sequentially
- Record H1 revenue of $10.2 million, up 10% YoY
- H1 net income increased 13% YoY to $672,000 ($0.04 per share)
- Record backlog of $11.7 million, up 7% YoY and 50% sequentially
- Strong sales in clean energy and electronics markets
- Cash and equivalents of $11.6 million with no debt

The company expects continued revenue growth for full fiscal year 2025, driven by increasing orders from the green energy sector and strength in semiconductor/electronics markets. Sono-Tek is focusing on complex large-scale production systems with higher Average Selling Prices (ASP) and sees potential for multiple repeat orders this year.

Sono-Tek (NASDAQ: SOTK), a leading developer and manufacturer of ultrasonic coating systems, has announced a conference call to discuss its fiscal second quarter and first half 2025 financial results. The call is scheduled for Tuesday, October 15, 2024, at 10:00 am ET. The financial results press release will be issued before the market opens on the same day.

Participants can join the call by dialing 1-844-481-2752 at least 10 minutes before the start time. A simultaneous webcast will be available through the company's website or at a provided link. A replay of the call will be accessible until October 22, 2024, via phone (1-877-344-7529, access code 4946283) and on Sono-Tek's website for one year.

Sono-Tek (Nasdaq: SOTK), a leading developer and manufacturer of ultrasonic coating systems, has announced its participation in the upcoming Virtual Investor Summit on August 20, 2024. The company is scheduled to present at 1:30 PM ET.

Investors interested in attending the presentation can access it via the provided webcast link. Additionally, those seeking one-on-one meetings with Sono-Tek's management team can register through the Investor Summit Group's website.

This event provides an opportunity for investors to gain insights into Sono-Tek's operations, strategies, and market position in the ultrasonic coating systems industry. The company's participation in such investor events demonstrates its commitment to maintaining open communication with shareholders and potential investors.

Sono-Tek (SOTK) has received an additional $2.95 million order from an existing clean energy customer, matching a recent record-breaking order. The new order includes four production-scale systems to be shipped in fiscal 2026, bringing the total to twelve systems for this customer. This repeat investment demonstrates the customer's confidence in Sono-Tek's ultrasonic coating technology.

CEO Steve Harshbarger highlighted the strong demand from the clean energy sector, driven by substantial private and public funding. Sono-Tek's systems are important for applications like carbon capture, hydrogen production, fuel cells, and advanced solar technologies. The higher average selling prices of these systems are expected to significantly boost Sono-Tek's growth prospects in the coming years.

Sono-Tek (NASDAQ: SOTK) has received its largest order in company history, valued at $2.95 million, from an existing clean energy customer. This order, the third part of a multi-system program, includes four production-scale systems, bringing the customer's total to eight. The systems are scheduled for shipment in the first half of fiscal 2026.

The customer initially purchased an R&D system from Sono-Tek before advancing to production-scale machines. This order follows the delivery of four previously announced systems in FY2024 and the first half of FY2025. Sono-Tek's CEO, Steve Harshbarger, highlighted the successful collaboration and anticipates further orders as the customer expands their production line for a specialty clean energy product.

The company expects increased demand for its ultrasonic coating systems due to government funding in the clean energy sector, potentially driving growth in applications such as carbon capture, hydrogen generation, fuel cells, and advanced solar energy.

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.