Sono Tek Corp - SOTK STOCK NEWS

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.

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.

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.

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.

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.

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.

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.

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.

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.