- 12-Month Net Sales Reached
- Q4
-Strong Sales Projected for Q1 FY2025-
- Preliminary net sales for the fourth quarter of FY2024 were approximately
$4.8 million , compared to net sales of$3.7 million for the fourth quarter a year ago, an increase of approximately 30%. - Preliminary net sales for the twelve months of FY2024, were approximately
$19.7 million , an increase of approximately 31% from net sales of$15.1 million in FY2023. - The preliminary estimate for equipment related backlog at
February 29, 2024 is approximately$9.1 million , a year-over-year increase of 7% compared to backlog of$8.5 million atFebruary 28, 2023 , reflecting strong orders in the second, third, and fourth quarters of FY2024. - Net sales for the first quarter of FY2025, ending
May 31, 2024 , are expected to increase approximately 35%-40% year-over-year, compared to a weaker supply chain constrained period in last year’s first quarter.
Dr.
“Backlog is strong and activity levels in our development labs remain high. By working together with our customers and engineers, Sono-Tek’s advanced technology and ultrasonic coating systems have become critical elements in our customers’ manufacturing processes, including in the clean energy sector in applications such as next-gen solar cells, fuel cells, green hydrogen generation, and carbon capture. The announcement from several of our largest customers of their own multiple multi-million dollar orders supports our outlook for growth and we look forward to the year ahead.”
Sono-Tek’s final fourth quarter and FY2024 financial results, ended
About
The Company’s product line is rapidly evolving, transitioning from R&D to high-volume production machines with significantly higher average selling prices, showcasing Sono-Tek’s market leadership and adaptability. Our comprehensive suite of thin film coating solutions and application consulting services ensures unparalleled results for our clients, and helps some of the world's most promising companies achieve technological breakthroughs and bring them to the market. The company strategically delivers its products to customers through a network of direct sales personnel, carefully chosen independent distributors, and experienced sales representatives, ensuring efficient market reach across diverse sectors around the globe. For more information, please visit www.sono-tek.com.
Safe Harbor Statement
This news release contains forward looking statements regarding future events and the future performance of
These factors include, among other considerations, general economic and business conditions; political, regulatory, tax, competitive and technological developments affecting our operations or the demand for our products; inflationary and supply chain pressures; residual effects from COVID-19 pandemic; maintenance of increased order backlog and timely completion and shipment of related product; the imposition of tariffs; timely development and market acceptance of new products and continued customer validation of our coating technologies; adequacy of financing; capacity additions, the ability to enforce patents; maintenance of operating leverage; maintenance of increased order backlog; consummation of order proposals; completion of large orders on schedule and on budget; continued sales growth in the alternative energy market; successful transition from primarily selling ultrasonic nozzles and components to a more complex business providing complete machine solutions and higher value subsystems; and realization of quarterly and annual revenues within the forecasted range of sales guidance. We undertake no obligation to update any forward-looking statement.
For more information, contact:
Chief Financial Officer
info@sono-tek.com
Investor Relations:
PCG Advisory
(804)767-9773
catie@pcgadvisory.com
Source:
2024 GlobeNewswire, Inc., source