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Sono-Tek's $2M Buyback: A Buying Opportunity in Clean Tech
MarketBeat· 2024-11-07 12:16
Core Viewpoint - Sono-Tek is positioned as a leader in ultrasonic coating systems, presenting a compelling investment opportunity due to its innovative technology, debt-free status, and recent share buyback program, indicating potential undervaluation [1][5]. Group 1: Technology and Applications - Sono-Tek utilizes high-frequency sound waves to atomize coating materials, resulting in precise and controlled application, which offers advantages such as reduced material waste and energy consumption [2]. - The company's technology has diverse applications across high-growth markets, including microelectronics, alternative energy, medical devices, and industrial manufacturing, supported by a comprehensive product portfolio [3]. Group 2: Leadership and Strategy - The leadership team, including Executive Chairman Dr. Christopher L. Coccio and CEO Steve Harshbarger, possesses extensive experience in ultrasonic technology, which is crucial for the company's growth and market penetration [4]. - Sono-Tek's strategic focus on higher-value offerings, including spare parts and application consulting, enhances revenue potential and strengthens customer relationships [3]. Group 3: Financial Performance - In Q2 FY2025, Sono-Tek reported an 8% year-over-year revenue decline, attributed to a strong prior year, but showed a sequential growth of 3%, indicating underlying momentum [6]. - The first half of FY2025 saw revenue increase by 10% year-over-year to $10.2 million, reflecting a solid foundation for future expansion [6]. Group 4: Stock and Buyback Program - The recently announced $2 million share buyback program, representing approximately 1.27% of outstanding shares, signals management's confidence in the stock's undervaluation [5]. - Sono-Tek's cash position of $11.6 million and zero debt further support the potential for increased earnings per share (EPS) and stock price appreciation [5]. Group 5: Market Trends and Growth - Sales to the alternative/clean energy market surged by 37%, driven by government investments and the adoption of high-ASP production systems [9]. - The electronics market experienced a 51% increase in sales, primarily due to demand in the semiconductor industry, while medical and industrial sales are expected to recover in the latter half of the fiscal year [10]. Group 6: Backlog and Future Outlook - Sono-Tek's record backlog of $11.7 million represents a 50% sequential increase and a 7% year-over-year jump, indicating a strong pipeline for future revenue growth [8]. - The company's commitment to innovative product development and its debt-free balance sheet reinforce a positive outlook for long-term potential [12].
Sono-Tek Announces Share Buyback
Prism Media Wire· 2024-11-04 10:55
Core Viewpoint - Sono-Tek Corporation has announced a share repurchase program of up to $2.0 million, reflecting its financial strength and confidence in long-term growth strategy [1][2]. Financial Position - As of August 31, 2024, Sono-Tek had approximately $11.6 million in cash, cash equivalents, and marketable securities, with no debt on its balance sheet [3]. - The company had approximately 15,751,000 shares of common stock outstanding as of the same date [3]. Repurchase Program Details - The repurchase program allows Sono-Tek to buy back shares through open market purchases or other means, with the timing and volume at the company's discretion [2]. - The program does not obligate the company to repurchase a specific number of shares and can be modified or discontinued at any time [2]. Business Overview - Sono-Tek is a leader in ultrasonic coating systems, serving various industries including microelectronics, alternative energy, and medical devices [4]. - The company is focusing on clean energy applications, showing transformative results in next-gen solar cells, fuel cells, and carbon capture [4]. Product and Market Strategy - The product line is evolving from R&D to high-volume production machines, indicating market leadership and adaptability [5]. - Sono-Tek's solutions are designed to be environmentally friendly and efficient, reducing overspray and saving raw materials, water, and energy [6]. Growth Strategy - The growth strategy emphasizes leveraging innovative technologies and global reach to enhance customer outcomes [7].
Sono-Tek Announces Participation at The Spartan Capital Investor Conference
Prism Media Wire· 2024-10-29 11:03
Company Overview - Sono-Tek Corporation is a global leader in the design and manufacture of ultrasonic coating systems, impacting various industries such as microelectronics, alternative energy, medical devices, and advanced industrial manufacturing [3][4] - The company is making significant advancements in the clean energy sector, particularly in next-generation solar cells, fuel cells, green hydrogen generation, and carbon capture applications [3] Product and Technology - Sono-Tek's product line is evolving from research and development to high-volume production machines, which feature significantly higher average selling prices, demonstrating market leadership and adaptability [4] - The company's ultrasonic coating solutions are environmentally friendly, efficient, and reliable, leading to reductions in overspray, raw material, water, and energy usage, while improving process repeatability and transfer efficiency [5] Growth Strategy - The growth strategy of Sono-Tek focuses on leveraging innovative technologies, proprietary know-how, and global reach to enhance thin film coating technologies, ultimately improving customer product outcomes [6] - The company employs a strategic distribution network that includes direct sales personnel, independent distributors, and experienced sales representatives to ensure efficient market reach across diverse sectors [4] Investor Engagement - Sono-Tek will participate in the Spartan Capital Securities investor conference on November 4th, where CEO Steve Harshbarger will present to investors [1][2]
Sono-Tek (SOTK) - 2025 Q2 - Earnings Call Transcript
2024-10-15 17:11
Sono-Tek Corporation (NASDAQ:SOTK) Q2 2025 Earnings Conference Call October 15, 2024 10:00 AM ET Company Participants Kirin Smith - PCG Advisory Chris Coccio - Chairman & CEO Steve Harshbarger - President & COO Steve Bagley - CFO Conference Call Participants Ted Jackson - Northland Securities Dick Ryan - Oak Ridge Financial Operator Good morning, and welcome to the Sono-Tek Fiscal Second Quarter and First Half 2025 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instruction ...
Sono-Tek Corporation (SOTK) Q2 Earnings Match Estimates
ZACKS· 2024-10-15 13:11
Sono-Tek Corporation (SOTK) came out with quarterly earnings of $0.02 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post earnings of $0.01 per share when it actually produced earnings of $0.02, delivering a surprise of 100%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. SonoTek, which belongs to ...
Sono-Tek (SOTK) - 2025 Q2 - Quarterly Report
2024-10-15 12:54
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: August 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No.: 000-16035 (Exact name of registrant as specified in its charter) New York 14-1568099 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification ...
Sono-Tek (SOTK) - 2025 Q2 - Quarterly Results
2024-10-15 11:15
Exhibit 99.1 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, First Half Net Income Growth of 13% YOY- - Expects Continued Revenue Growth for Full Fiscal Year 2025- -Conference Call Today at 10:00 am ET- MILTON, N.Y., October 15, 2024 – Sono-Tek Corporation (Nasdaq: SOTK), the ...
Sono-Tek Reports Fiscal Second Quarter and First Half 2025 Financial Results, Record Backlog and Provides Revenue Guidance
Prism Media Wire· 2024-10-15 11:01
Sono-Tek Reports Fiscal Second Quarter and First Half 2025 Financial Results, Record Backlog and Provides Revenue Guidance SONO TEK 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% YOY Expects Continued Revenue Growth for Full Fiscal Year 2025 Conference Call Today at 10:00 am ET MILTON, N.Y., October 15, 2024 – PRISM MediaWire – Sono-Tek Corporation (Nasdaq: SOTK), t ...
Sono-Tek Announces Fiscal Second Quarter and First Half 2025 Earnings Conference Call
Prism Media Wire· 2024-10-08 11:00
Sono-Tek Announces Fiscal Second Quarter and First Half 2025 Earnings Conference Call Conference Call on Tuesday, October 15, 2024 at 10:00 am ET MILTON, NY, October 8, 2024 – PRISM MediaWire – Sono-Tek Corporation (NASDAQ: SOTK), the leading developer and manufacturer of ultrasonic coating systems, today announced that the Company will hold a conference call to discuss its fiscal second quarter and first half 2025 financial results, ended August 31, 2024, on Tuesday, October 15, 2024 at 10:00 am ET. The se ...
Sono-Tek to Present at August 20th Virtual Investor Summit Microcap Event
Prism Media Wire· 2024-08-15 14:16
Sono-Tek to Present at August 20th Virtual Investor Summit Microcap Event MILTON, NY, August 15, 2024 — Sono-Tek Corporation (Nasdaq: SOTK), a leading developer and manufacturer of ultrasonic coating systems, announced today that it will be presenting at the upcoming Virtual Investor Summit on August 20, 2024. Investors may request a one-on-one meeting with management by registering here: https://investorsummitgroup.com. Event: Q3 Investor Summit Date: August 20, 2024 Presentation Time: 1:30 PM ET Location: ...