Sono-Tek reports preliminary Q4 sales $4.8M vs $3.7M last year

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 at February 28, 2023, reflecting strong orders in the second, third, and fourth quarters of FY2024. Christopher L. Coccio, Executive Chairman of Sono-Tek, said, “Sono-Tek’s preliminary results remained strong for the fourth quarter and we ended the fiscal year at nearly $20 million in net sales, a new record for the Company and approximately 31% ahead of the previous year. Record shipments drove the increase, reflecting robust orders and delivery of several large orders which were delayed by Covid-related supply chain issues of the previous year. We expect a strong first quarter as well, against a weaker first quarter last year, and continued year over year growth for the full fiscal year ahead even though quarterly comparisons will be against record shipments for the year just ended. “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.”