Sono-Tek Q1 FY2024 net sales down 11% to $3.6M; record backlog $9.96M, up 135% YoY

SONO TEK CORP

2024-Q1 EPS reported $0.00 revenue$3,603,018

Net sales $3.6M (-11% YoY); gross profit $1.8M (-16%); net income $53K vs $306K prior year.
Record backlog $9.96M, up 17% from preceding quarter and 135% YoY, driven by green energy orders.
Cash and equivalents $12.1M, no debt; customer deposits $3.6M.
Guidance: Q2 FY2024 expects substantial sales growth; FY2024 anticipates strong rebound due to backlog.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SONO TEK CORP reported first quarter of fiscal year 2024, ended May 31, 2023 results: revenue $3,603,000, net income $53,000, EPS $0.00 per. Guidance initiated.

Period: first quarter of fiscal year 2024, ended May 31, 2023
Revenue: $3,603,000
Net income: $53,000
EPS: $0.00 per
Guidance: initiated
Result: reported results

Exact text from the filing

unless otherwise noted). The three-month periods ended May 31, 2023 and 2022 are referred to as the first quarter of fiscal 2024 and fiscal 2023, respectively. · Net Sales were $3.6 million, a decrease of 11%, primarily driven by vendor delays which pushed out planned first quarter shipments into the second and third quarters of fiscal 2024. · Gross Profit was $1.8

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Source: SEC EDGAR

accession 0001171520-23-000223

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