Sono-Tek reports record FY2022 sales $17.1M, net income $2.5M; projects record FY2023 sales

SONO TEK CORP

Net sales $17.1M (+16% YoY); net income $2.5M (EPS $0.16) vs $1.1M ($0.07) prior year.
Backlog at year-end $5.3M, up 38% YoY; cash & equivalents $10.8M (highest ever), no debt.
Gross margin improved to 50.3% from 47.2%; operating income up 41% to $1.9M.
First quarter FY2023 on track for double-digit YoY growth; management projects another record sales year.
Alternative energy sales up 72%, medical up 29%, electronics up 19% year-over-year.

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