Sono-Tek Announces Preliminary Q4 Revenue Of $4.8M Vs $3.7M YoY; Sees Q1 FY2025, Ending May 31, 2024, Are Expected To Increase ~35%-40% YoY
Portfolio Pulse from Benzinga Newsdesk
Sono-Tek Corporation (NASDAQ:SOTK) reported preliminary Q4 FY2024 revenue of $4.8M, a 30% increase YoY, and full-year sales of $19.7M, up 31% from FY2023. The company expects Q1 FY2025 sales to grow 35%-40% YoY. The equipment backlog grew 7% YoY to $9.1M. These results reflect strong orders and the delivery of large orders delayed by Covid-related supply chain issues. Sono-Tek anticipates continued growth in FY2025, supported by its critical technology in clean energy applications.
April 08, 2024 | 12:21 pm
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Sono-Tek Corporation reported a significant increase in Q4 FY2024 revenue and expects continued growth in Q1 FY2025, with a strong equipment backlog indicating robust demand for its ultrasonic coating systems.
The reported increase in revenue and positive growth outlook for Sono-Tek, especially in the clean energy sector, suggests a strong demand for its products. The 7% YoY growth in equipment backlog further supports the expectation of continued sales momentum. Given these factors, the short-term impact on SOTK's stock price is likely positive, reflecting investor optimism about the company's growth trajectory and market position.
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