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Sono-Tek Corporation - SOTK STOCK NEWS

Welcome to our dedicated page for Sono-Tek Corporation news (Ticker: SOTK), a resource for investors and traders seeking the latest updates and insights on Sono-Tek Corporation stock.

Sono-Tek Corporation, founded in 1975 by Dr. Harvey Berger, is a leading designer and manufacturer of ultrasonic coating systems. These systems apply precise, thin film coatings to products across various industries like microelectronics, alternative energy, medical, and industrial markets, as well as specialized glass applications in construction and automotive sectors. Sono-Tek's ultrasonic nozzle systems use high-frequency vibrations to atomize liquids into minute drops, facilitating the application of thin protective layers over surfaces such as glass or metals.

News

Sono-Tek Announces Fiscal Year 2024 Results with Record-Breaking Revenue and Record YOY Backlog

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Sono-Tek (NASDAQ: SOTK) reported record-breaking financial results for fiscal year 2024, ending February 29, 2024. Key highlights include a 31% increase in net sales to $19.7 million and a 29% rise in gross profit to $9.8 million. Operating income surged by 73% to $1.2 million, while net income more than doubled to $1.4 million. The backlog at year-end rose 7% to $9.1 million. The company remains debt-free with cash and equivalents totaling $11.8 million. For fiscal year 2025, Sono-Tek projects revenue growth of 8% to 10%. Strong demand continues in key markets like microelectronics, clean energy, and medical devices.

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Sono-Tek Announces Year-End FY 2024 Earnings Conference Call

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Sono-Tek (NASDAQ: SOTK), a leading developer and manufacturer of ultrasonic coating systems, will hold a conference call to discuss its year-end fiscal year 2024 financial results on May 23, 2024, at 9:30 am ET.

The financial results, covering the period ending February 29, 2024, will be issued prior to the market opening on the same day.

Interested parties can dial 1-844-481-2752 to participate in the call or access the webcast on the company's website. A replay will be available through May 30, 2024, via phone or on the company's website for one year.

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Sono-Tek Announces Preliminary Net Sales for Q4 and FY2024 and Provides Preliminary Sales Guidance for Q1 FY2025 and FY2025

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Sono-Tek (NASDAQ: SOTK) reports a significant increase in net sales for FY2024, reaching ~$19.7 million, a gain of ~31% compared to the previous year. Q4 net sales grew by ~30% YOY, with backlog increasing by ~7% YOY and remaining strong. Strong sales are projected for Q1 FY2025, with an expected increase of approximately 35%-40% year-over-year.
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Sono-Tek Welcomes Dr. Adeniyi Lawal to Board of Directors

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Sono-Tek (SOTK) appoints Dr. Adeniyi Lawal, an expert in chemical energy conversion processes and renewable energy, to its Board of Directors. Dr. Lawal's extensive research experience and knowledge in green energy are expected to provide valuable insights to the company's strategic direction and growth in the renewable energy market.
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Sono-Tek to Present at The LD Micro Invitational XIV

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Sono-Tek (Nasdaq: SOTK) will be presenting at the 14th Annual LD Micro Invitational on April 9, 2024. The event will feature 80 companies presenting in half-hour increments, with Sono-Tek scheduled to present at 8:30 am ET. Dr. Christopher Coccio and Steve Harshbarger will lead the presentation.
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Sono-Tek Announces Appointment of Randy A. Copeman to Chief Technologist

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Sono-Tek Corporation (Nasdaq: SOTK) has appointed Randy A. Copeman as the Chief Technologist, effective immediately. Mr. Copeman has been with the company for 27 years and has been instrumental in developing core technological advancements. He has also been the lead inventor on several significant patents for ultrasonic generator technology and atomization methods. His expertise in ultrasonic atomization and generator technology makes him a valuable addition to the senior management team.
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Sono-Tek Reports 59% Increase in Q3 Fiscal 2024 Net Sales to Record $5.7 Million and Provides Sales Guidance for Fiscal Year 2024

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Sono-Tek Corporation (Nasdaq: SOTK) reported a 59% increase in net sales to a record $5.7 million for the third quarter of fiscal year 2024, with a 60% increase in gross profit to $2.9 million. Operating income increased 600% to $721,000, and the backlog at quarter end remained strong at $10.4 million, a year-over-year increase of 96%. The company expects a 30% revenue growth for the full fiscal year ending February 29, 2024.
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Sono-Tek Completes Senior Management Transition

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Sono-Tek Corporation (NASDAQ: SOTK) announced the completion of a senior management transition, with Dr. Christopher Coccio becoming Executive Chairman and Stephen Harshbarger appointed as CEO.
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Sono-Tek Announces Preliminary Record Revenue with Continued Strong Backlog for Q3 FY2024 and Increases Revenue Guidance for Fiscal Year 2024

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Sono-Tek Corporation (SOTK) reported a 58% year-over-year sales growth, reaching approximately $5.7 million for the third quarter of fiscal year 2024. The backlog also increased by 68% year-over-year, reaching $10.4 million. The company projects a 30% revenue growth for the fiscal year ending February 29, 2024, driven by strong shipments to the clean energy, medical, and industrial markets.
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Sono-Tek Reports 50% Increase in Q2 Fiscal 2024 Net Sales to Record $5.6 Million and Provides Sales Guidance for Fiscal Year 2024

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Sono-Tek Corporation reports strong financial results for Q2 and first half of fiscal year 2024. Net sales increased 50% to a record $5,639,000 in Q2. Backlog reached a record $10.7 million. Minimum 25% revenue growth expected for FY2024.
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FAQ

What is the current stock price of Sono-Tek Corporation (SOTK)?

The current stock price of Sono-Tek Corporation (SOTK) is $4.62 as of November 22, 2024.

What is the market cap of Sono-Tek Corporation (SOTK)?

The market cap of Sono-Tek Corporation (SOTK) is approximately 70.3M.

When was Sono-Tek Corporation founded?

Sono-Tek Corporation was founded in 1975 by Dr. Harvey Berger.

What is the core business of Sono-Tek Corporation?

Sono-Tek Corporation designs and manufactures ultrasonic coating systems that apply precise, thin film coatings to products for various industries.

How do Sono-Tek's ultrasonic nozzle systems work?

Sono-Tek's ultrasonic nozzle systems use high-frequency vibrations to atomize liquids into minute drops, allowing the application of thin protective layers over surfaces.

Which industries does Sono-Tek serve?

Sono-Tek serves industries such as microelectronics/electronics, alternative energy, medical, industrial markets, and specialized glass applications in construction and automotive sectors.

What sets Sono-Tek Corporation apart from competitors?

Sono-Tek's ultrasonic nozzle systems provide precise, thin film coatings with high uniformity and excellent transfer efficiency, minimizing overspray of chemistries.

How can one stay updated on the latest news from Sono-Tek?

To stay informed on the latest news and developments, visit Sono-Tek Corporation's official website or contact their Investor Relations department.

Where can I find financial information about Sono-Tek Corporation?

For financial information, including balance sheets, cash flow reports, and fiscal year overviews, individuals can contact the Chief Financial Officer or visit the company's website.

Is Sono-Tek Corporation involved in any community initiatives?

While specific community initiatives are not mentioned, Sono-Tek Corporation may have various corporate social responsibility programs in place. For more information, individuals can contact the company directly.

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Sono-Tek Corporation

Nasdaq:SOTK

SOTK Rankings

#4639 Ranked by Market Cap
N/A Ranked by Dividends

SOTK Stock Data

70.25M
13.15M
16.21%
47.91%
0.07%
Scientific & Technical Instruments
Special Industry Machinery, Nec
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United States of America
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