May 28, 2016 6:04 AM ET

Electronic Equipment, Instruments and Components

Company Overview of Sono-Tek Corp.

Company Overview

Sono-Tek Corporation develops, manufactures, sells, installs, and services ultrasonic spray coating equipment using ultrasonic liquid atomizing nozzles technology worldwide. The company operates through two segments, Ultrasonic Spray Coating Systems and Real Estate Operations. 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, including SonoFlux 2000F for electronic circuit board manufacturers to apply solder flux to fixed width circuit boards; Sono...

2012 Route 9W

Milton, NY 12547

United States

Founded in 1975

58 Employees

Phone:

845-795-2020

Fax:

845-795-2720

Key Executives for Sono-Tek Corp.

Chairman and Chief Executive Officer
Age: 74
Total Annual Compensation: $180.0K
President and Director
Age: 47
Total Annual Compensation: $231.0K
Chief Financial Officer
Age: 52
Total Annual Compensation: $160.0K
Compensation as of Fiscal Year 2016.

Sono-Tek Corp. Key Developments

Sono-Tek Corporation Announces Earnings Results for the Fourth Quarter and Year Ended February 29, 2016; Provides Earnings Guidance for the First Quarter of 2016

Sono-Tek Corporation announced earnings results for the fourth quarter and year ended February 29, 2016. For the quarter, net sales were $2,943,703 compared to $2,943,143 a year ago. Operating loss was $751 compared to operating income of $275,203 a year ago. Net loss was $50,205 compared to net income of $222,033 a year ago. The company anticipated this reduction which is due to the substantially heavier expenditures in the company's New Product Development 'NPD' program and associated marketing and sales expenditures. For the year, net sales were $11,833,730 compared to $10,849,475 a year ago. Operating income was $740,291 compared to operating income of $850,194 a year ago. Net income was $547,729 compared to net income of $606,133 a year ago. Basic and diluted earnings per share were $0.04 compared to $0.04 a year ago. The company's increased sales this past year are derived mainly from the float glass coating, PCB coating, and spray drying markets, and approximately 56% of sales during the fiscal year were to overseas customers in diversified geographies. The company anticipates first quarter 2017 sales to be approximately 20%-25% below last year's first quarter sales and operating income to be reduced as well.  The decreased revenue and operating income result primarily from a lower level of sales in the semiconductor and medical markets, and a "hold" on capital spending seen from much of the float glass industry.

Sono-Tek Corporation Announces Earnings Results for the Fiscal Year Ended February 29, 2016

Sono-Tek Corporation announced earnings results for the fiscal year ended February 29, 2016. The company announced preliminary sales of $11,834,000 for the fiscal year ended February 29, 2016, compared to sales of $10,850,000 for the previous fiscal year, an increase of $984,000 or 9%. The Company expects to report income before taxes of $743,000 for the year ended February 29, 2016 as compared to $826,000 for the year ended February 28, 2015, a decrease of $83,000 or 10%.

Sono-Tek Corporation Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended November 30, 2015; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2016

Sono-Tek Corporation announced unaudited earnings results for the third quarter and nine months ended November 30, 2015. For the quarter, the company reported net sales of $3,032,457 against $2,851,906 a year ago. Income before taxes was $284,697 against $278,715 a year ago. Net income was $243,565 against $202,432 a year ago. Basic and diluted earnings per share were $0.02 against $0.01 a year ago. For the nine months, the company reported net sales of $8,890,027 against $7,906,332 a year ago. Income before taxes was $688,044 against $549,071 a year ago. Net income was $541,176 against $384,100 a year ago. Basic and diluted earnings per share were $0.04 against $0.03 a year ago. The company also expects to report continuing profitability in the fourth quarter, based on current backlog and shipments to date.

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