Sono-Tek Corporation - SOTK STOCK NEWS

Sono-Tek Corporation (Nasdaq: SOTK) announced a substantial order exceeding $1.1 million from a repeat customer in the clean energy sector. This marks the second significant order from this sector, indicating a strong focus on growth. The order is among the largest in the company's history and will ship in the upcoming fiscal year starting March 1, 2023. Sono-Tek's customized equipment helps reduce emissions in green energy products, and the company continues to engage with customers in R&D for carbon capture and hydrogen generation.

Sono-Tek Corporation (SOTK) reported its second quarter and first half fiscal 2023 results, highlighting an 8% decline in net sales to $3,763,000 due to supply chain delays. Gross profit fell 9% to $1,896,000, leading to a 60% drop in operating income to $178,000. Despite challenges, backlog increased by 19% to $5,049,000, driven by an order from the clean energy sector worth $1.1 million, marking a positive growth outlook. The company anticipates revenue growth in Q4 and full FY 2023, though ongoing supply chain issues may affect short-term results.

Sono-Tek Corporation (NASDAQ: SOTK) has announced its participation at The ThinkEquity Conference on October 26, 2022, at 9:30 AM ET. Dr. Chris Coccio, Chairman and CEO, alongside Steve Harshbarger, President and COO, will present a corporate overview and engage in one-on-one meetings with investors. The live presentation can be accessed via a provided link, and an investor presentation will be available on their website the same day. The conference, focusing on various sectors including biotechnology and AI, aims to connect industry leaders and investors.

Sono-Tek Corporation (SOTK) has announced a conference call on October 18, 2022, at 10:00 am ET to discuss its first half fiscal year 2023 financial results. The results will be released after market close on October 17, 2022. Sono-Tek specializes in ultrasonic coating systems for various industries, aiming to enhance product performance while minimizing environmental impact. The company emphasizes its growth strategy focusing on innovation and customer outcomes.

Sono-Tek Corporation (Nasdaq: SOTK) held its Annual Shareholders Meeting on August 18, 2022, discussing its strong Fiscal Year 2022 results. Revenue reached $17.1 million, a 16% increase, while net income more than doubled to $2.5 million. The company reported an 11% revenue growth and a 17% net income rise in Q1 FY2023 compared to the prior year. Despite supply chain delays impacting interim results, Sono-Tek maintains a solid cash position of over $10 million and zero debt, positioning it well for future opportunities in the semiconductor, medical device, and clean energy sectors.

Sono-Tek Corporation (SOTK) announced a significant order worth $1.1 million from the clean energy sector, marking the largest such order in its history. This order aligns with the company's growth strategy focused on providing full system solutions. Expected to ship in spring 2023, this deal indicates increasing demand for Sono-Tek's ultrasonic coating systems, crucial for emissions reduction in manufacturing. The company highlighted its engineering expertise, pivotal in transitioning clients from R&D to production volumes, thus potentially leading to more orders in the clean energy space.

Sono-Tek Corporation (Nasdaq: SOTK) reported its first quarter fiscal 2023 results, revealing net sales of $4.05 million, an increase of 11% year-over-year, primarily driven by demand in the medical, alternative energy, and R&D sectors. Gross profit rose 16% to $2.11 million, with a gross margin of 52%. Net income also increased by 17% to $306,000, while backlog remained stable at $4.2 million. However, a cautious outlook for the second quarter was noted due to customer project delays.

Sono-Tek Corporation (NASDAQ: SOTK) announced its expected inclusion in the Russell 3000® Index as of June 27, 2022. This milestone signifies the company's growth and enhances visibility among investors, potentially broadening its shareholder base. The Russell 3000® Index encompasses the 4,000 largest U.S. stocks, providing a benchmark for numerous investment strategies. CEO Dr. Chris Coccio highlighted that this inclusion reflects Sono-Tek's progress, including its uplisting to the Nasdaq Capital Market and significant growth over the past year.