Sono-Tek Corporation - SOTK STOCK NEWS

Sono-Tek to participate in Northland Capital Markets Virtual Institutional Investor Conference on September 19, 2023.

Sono-Tek Corporation expects revenue growth of at least 25% in FY 2024 as supply chain issues ease. Second-quarter revenue is expected to be 40%-45% above last year's results. Sono-Tek's strong balance sheet with over $12 million in cash and zero debt positions the company for strategic opportunities. The semiconductor, medical device, and clean energy sectors are driving Sono-Tek's solid outlook. CEO transition announced with Steve Harshbarger being promoted to Chief Executive Officer.

Sono-Tek Corporation (Nasdaq: SOTK) announced a significant new order exceeding $0.6 million from a clean energy client, indicating a robust transition from R&D to production volumes. This order is part of a multi-phase program and is expected to ship by February 2024. The proprietary thin film applied by Sono-Tek's systems supports green energy applications, reflecting the company’s strategic focus on the clean energy market. President Steve Harshbarger noted that ongoing government initiatives are driving demand for Sono-Tek's machinery, with further orders anticipated as clients integrate their systems into production.

Sono-Tek Corporation (Nasdaq: SOTK) announced a $0.6 million order from an existing medical device customer as part of a multi-phase program aimed at increasing production capacity. This order, which includes several ultrasonic coating machines, is expected to ship in FY2024, ending February 28, 2024. The partnership showcases Sono-Tek's innovative coating technology which enhances critical drug delivery devices. President and COO Steve Harshbarger highlighted the significance of this order for meeting surging market demand and indicated that the company’s fiscal backlog has substantially grown during FY2023, to be reported in mid-May.