Sono-Tek reports record Q3 net sales of $5.7M (+59% YoY); net income up 557% to $690K

SONO TEK CORP

2024-Q3 EPS reported $0.08 revenue$14,932,157

Record Q3 net sales $5,690K (+59% YoY); gross margin 51% steady; operating income up 600% to $721K.
Net income $690K ($0.04 diluted EPS) vs $105K ($0.01) in prior year; 557% increase.
Backlog $10.4M (+96% YoY); cash and equivalents $12.6M; no debt on balance sheet.
Full-year FY2024 revenue guidance raised to ~30% growth, a record high.
Sales growth driven by Alternative/Clean Energy (+189%) and Medical (+53%) markets.

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 third quarter of fiscal 2024 ended November 30, 2023 results: revenue $5,690, net income $690.

Period: third quarter of fiscal 2024 ended November 30, 2023
Revenue: $5,690
Net income: $690
Result: reported results

Exact text from the filing

Third Quarter Fiscal 2024 Results ($ in thousands) Three Months Ended November 30, Change 2023 2022 $ % Net Sales $ 5,690 $ 3,586 2,104 59% Gross Profit $ 2,926 $ 1,824 1,002 57% Gross Margin 51% 51% Operating Income $ 721 $ 103 $ 618 600% Operating Margin 13% 3% Net Income $ 690 $ 105 $ 585 557% Net Margin 12% 3%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SONO TEK CORP reported first nine months of fiscal 2024 ended November 30, 2023 results: revenue $14,932, net income $1,285.

Period: first nine months of fiscal 2024 ended November 30, 2023
Revenue: $14,932
Net income: $1,285
Result: reported results

Exact text from the filing

Nine Month Fiscal 2024 Results ($ in thousands) Nine Months Ended November 30, Change 2023 2022 $ % Net Sales $ 14,932 $ 11,401 3,531 31% Gross Profit $ 7,504 $ 5,827 1,677 29% Gross Margin 50% 51% Operating Income $ 1,195 $ 662 533 81% Operating Margin 8% 6% Net Income $ 1,285 $ 573 712 124% Net Margin 9% 5%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SONO TEK CORP reported full fiscal year ending February 29, 2024 results: revenue approximately 30%. Guidance raised.

Period: full fiscal year ending February 29, 2024
Revenue: approximately 30%
Guidance: raised
Result: guidance update

Exact text from the filing

We recently increased our projections for the full fiscal year ending February 29, 2024, and now expect net sales to grow approximately 30% over last fiscal year.

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Source: SEC EDGAR

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