Electronic Equipment, Instruments and Components
Company Overview of Sono-Tek Corp.
Sono-Tek Corporation develops, manufactures, and sells ultrasonic liquid atomizing nozzles. Its ultrasonic nozzle systems atomize low to medium viscosity liquids by converting electrical energy into mechanical motion in the form of ultrasonic vibrations that break liquids into minute drops that can be applied to surfaces at low velocity. The company offers various spray fluxer products that comprise SonoFlux 2000F, which is used by electronic circuit board manufacturers to apply solder flux to fixed width circuit boards; SonoFlux EZ that is designed to be used by original equipment manufacturers (OEM) or contract manufacturers of electronic circuit assemblies; and SonoFlux Servo, which provi...
2012 Route 9W
Milton, NY 12547
Founded in 1975
Key Executives for Sono-Tek Corp.
Chairman and Chief Executive Officer
Total Annual Compensation: $212.9K
President and Director
Total Annual Compensation: $203.7K
Chief Financial Officer and Principal Accounting Officer
Total Annual Compensation: $152.5K
Vice President of Food Business Development and Director
Total Annual Compensation: $126.7K
Compensation as of Fiscal Year 2014.
Sono-Tek Corp. Key Developments
Sono-Tek Corp. Reports Preliminary Sales Results Year Ended February 28, 2015; Proves Earnings Guidance for the Year Ended February 28, 2015 and Provides Revenues Guidance for the First Quarter and Fiscal Year 2016
Mar 6 15
Sono-Tek Corp. reported preliminary sales results year ended February 28, 2015. For the year, the company reported sales of $10,850,000 compared to sales of $10,280,000 for the previous fiscal year, an increase of $570,000 or 6%. During fiscal year 2015, the Company had a continuing upward trend in sales, in both quarter to quarter and quarter versus the previous year's quarter. The current year's success has been due to increases in specialty glass coatings, stent coating applications, fuel cell coatings, and food antimicrobial applications coupled with steady sales of SonoFlux equipment to the electronics printed circuit board industry, balloon catheter applications, and spray drying applications.
Based on current backlog, shipments, and proposals, the company is expecting another increase for the first quarter of the fiscal
year (March-May 2015) compared to last year.
The company is targeting a 10% growth in revenues for fiscal year 2016.
The company is expected to report income before taxes of $700,000 for the year ended February 28, 2015 as compared to $615,000 for the year ended February 28, 2014, an increase of $85,000 or 14%.
Sono-Tek Corporation Signs an Exclusive Distribution Agreement with Mercer Group Limited
Feb 6 15
Sono-Tek Corporation announced the signing of an exclusive Distribution Agreement with Mercer Group Limited of Onehunga, Auckland, New Zealand. SonoCoat AM ultrasonic coaters have already been installed in concert with Titan meat slicers in three installations and together they deliver unmatched meat slicing and coating performance. The exclusive Distribution Agreement between Sono-Tek and Mercer provides meat processors in New Zealand and in Australia, as well as Titan slicer users worldwide, access to the full range of Sono-Tek's antimicrobial spray coating systems. It adds valuable product offerings to Titan's customer base, and potentially opens new markets for Sono-Tek.
Sono-Tek Corp. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended November 30, 2014; Provides Earnings Guidance for the Fourth Quarter of Fiscal Year 2015; Provides Sales Guidance for the Fiscal Year 2016
Jan 14 15
Sono-Tek Corp. announced unaudited earnings results for the third quarter and nine months ended November 30, 2014. For the quarter, the company reported net sales of $2,851,906 compared to $2,650,225 a year ago, an increase of $202,000 or 8%. The current quarter's revenue increase was due to continuing strength of sales of SonoFlux equipment to the electronics printed circuit board industry, along with an even stronger showing in multi-axis coating units to the specialty glass, medical device, and advanced energy market segments. Income before taxes was $278,715 compared to $264,672 a year ago. The company reported net income of $202,432 compared to $171,247 for the prior year period, an increase of $31,000. Basic and diluted earnings per share were $0.01 compared to $0.01 a year ago.
For the nine months, the company reported net sales of $7,906,332 compared to $7,561,998 a year ago. Income before taxes was $549,071 compared to $530,945 a year ago. The company reported net income of $384,100 compared to $350,424 for the prior year period. Basic and diluted earnings per share were $0.03 compared to $0.02 a year ago.
Based on backlog, shipments and proposals, the company expects another sales increase for the fourth quarter of this Fiscal Year, with continuing strength in sales of stent coating units, semiconductor coating machinery and PCB fluxing equipment to the electronics industry. The company also expects to report continuing profitability in the fourth quarter, based on backlog and shipments to date.
The company is preliminarily targeting 10% sales growth in fiscal year 2016.
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