Sono-Tek Announces Largest Order in Company History
31 Luglio 2024 - 1:00PM
Sono-Tek Corporation (Nasdaq: SOTK), the leading developer and
manufacturer of ultrasonic coating systems, is pleased to announce
that it has received a significant new order from an existing clean
energy customer. The $2.95 million order is the third part of an
anticipated multi-system program and is Sono-Tek’s largest order in
its history.
This new order comprises four production-scale systems and
builds upon the delivery of four previously announced
production-scale machines. These machines were shipped to the
customer in FY2024, which ended on February 29, 2024, and during
the first half of FY2025, ending February 28, 2025. With this
additional order, the total number of production-scale machines for
this customer will increase to eight. The customer initially
purchased an R&D system from Sono-Tek to develop their
processes before advancing to production-scale systems. The new
order is scheduled for shipment during the first half of fiscal
2026, starting March 1, 2025.
Steve Harshbarger, President and CEO of Sono-Tek, commented,
“This new order from a clean energy customer marks the largest in
our company's history and is a testament to the successful
collaboration between our teams. This customer has been
progressively building out their production line for a specialty
clean energy product, starting with an R&D unit and refining
their manufacturing process with the support of our application
engineering team. In addition to these production-scale systems,
this customer continues to place orders for smaller R&D
machines for various projects, demonstrating their ongoing trust
and partnership with Sono-Tek. We anticipate further orders from
this customer following the successful integration of these
production systems, which leverage Sono-Tek’s proprietary thin film
application technology.”
Harshbarger added, “The recent distribution of funding from
large-scale government initiatives for the clean energy sector is
driving demand for our proprietary ultrasonic coating systems
across various applications, including carbon capture, hydrogen
generation, fuel cells, and advanced solar energy. The higher
average selling prices (ASPs) that these systems command are
expected to positively impact Sono-Tek's growth in the coming
years.”
For more information about Sono-Tek Corporation and its
innovative ultrasonic coating solutions, please visit
www.sono-tek.com.
Safe Harbor Statement
This news release contains forward looking
statements regarding future events and the future performance of
Sono-Tek Corporation that involve risks and uncertainties that
could cause actual results to differ materially. These
“forward-looking statements” are based on currently available
competitive, financial and economic data and our operating plans.
They are inherently uncertain, and investors must recognize that
events could turn out to be significantly different from our
expectations and could cause actual results to differ materially.
These factors include, among other considerations, general economic
and business conditions, including political, regulatory, tax,
competitive and technological developments affecting our operations
or the demand for our products; inflationary and supply chain
pressures; the recovery of the Electronics/Microelectronics and
Medical markets; rebound of sales to the industrial market in the
second quarter of fiscal year 2025; maintenance of order backlog;
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;
consummation of order proposals; completion of large orders on
schedule and on budget; continued sales growth in the medical and
alternative energy markets; 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:
Sono-Tek Corp.Stephen J. BagleyChief Financial
OfficerPh: (845) 795-2020info@sono-tek.com
Investor RelationsKirin SmithPCG Advisory,
Inc.ksmith@pcgadvisory.com
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