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Sono-Tek Reports Fiscal Second Quarter and First Half 2025 Financial Results, Record Backlog and Provides Revenue Guidance
Q2 Sequential Revenue Growth Meets Quarterly Guidance of 2%-5% Record Equipment and Service Backlog of $11.7 Million First Half Revenue Growth of 10% YOY,
About this update from Sono-tek Corporation
[{"type":"text","content":"Q2 Sequential Revenue Growth Meets Quarterly Guidance of 2%-5% Record Equipment and Service Backlog of $11.7 Million First Half Revenue Growth of 10% YOY, First Half Net Income Growth of 13% YOYExpects Continued Revenue Growth for Full Fiscal Year 2025Conference Call Today at 10:00 am ET MILTON, N.Y., Oct. 15, 2024 (GLOBE NEWSWIRE) -- Sono-Tek Corporation (Nasdaq: SOTK), the leading developer and manufacturer of ultrasonic coating systems, today reported financial results for the second quarter and first half of fiscal year 2025, ended August 31, 2024. Second Quarter and First Half Fiscal 2025 Highlights Net Sales for the quarter decreased by 8% or $477,000 to $5,162,000 compared to the second quarter of fiscal 2024, which saw elevated sales due to the resolution of supply chain challenges, which had previously impacted the Company’s operations. Second quarter revenue increased 3% sequentially to $5.2 million, meeting quarterly guidance of 2%-5% growth, driven by strong shipments to the clean energy and electronics markets.Record first half fiscal 2025 revenue increased by 10% year over year to $10.2 million compared to $9.2 million.First half fiscal 2025 gross profit increased 9% year over year to $5.0 million compared with $4.6 million.First half fiscal 2025 net income increased 13% year over year to $672 thousand, or $0.04 per share, compared with $595 thousand, or $0.04 per share.As of August 31, 2024, cash, cash equivalents and marketable securities totaled $11.6 million with no outstanding debt. Backlog and Expected Revenue Growth for Fiscal Year 2025 Total equipment and service-related backlog increased 7% year over year and 50% sequentially to a record $11.7 million, compared to $10.9 million at the end of Q2 FY2024, and $7.8 million at the end of Q1 FY2025.Continued revenue growth is expected for the full fiscal year 2025, ending February 28, 2025. “Sono-Tek continued its fiscal year with solid sales momentum and profitability and is looking forward to a strong second half with increasing orders from the green energy sector combined with strength in the semiconductor/electronics markets. Additionally, we are aggressively moving forward on full production systems with the potential for multiple repeat orders this year,” according to Dr. Christopher L Coccio, Executive Chairman. Steve Harshbarger, CEO & President of Sono-...