Sono-Tek Announces Preliminary Record Revenue and Operating Income for Fiscal Year 2022 and Provides First Quarter FY2023 Revenue Guidance
MILTON, NY, March 16, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Sono-Tek Corporation (NASDAQ: SOTK), the leading developer and manufacturer of ultrasonic coating systems, today announced preliminary sales and operating income for its fiscal year ended February 28, 2022 (“FY2022”).
- The Companys preliminary estimate of operating income for FY2022 is approximately $1.8 million, a 38% increase over the Companys historic high operating income of $1.3 million that was set in the prior fiscal year.
- Dr. Christopher L. Coccio, Sono-TeksChairman and CEO, commented, Sono-Tek had a great year, achieving another record in both revenue and operating income, which increased by 16% and 38%, respectively.
- We reported positive gains in all quarters over the prior fiscal years results, in revenue and net income, and revenue showed steady growth from quarter to quarter, with the fourth quarter being the strongest of the year with $5 million in revenue.
- The Companys final financial results will be announced upon completion of the annual year-end audit, which is expected in May 2022.