-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WrdRMg1gF6AtTVYOqr5m/wdrB8vX6CZTrdSF6Hnm68INH2Fd8hOk75dULSUDLPGq 3HIJy7goFl8a23mm7b79KA== 0001171520-05-000438.txt : 20051221 0001171520-05-000438.hdr.sgml : 20051221 20051221115600 ACCESSION NUMBER: 0001171520-05-000438 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051221 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051221 DATE AS OF CHANGE: 20051221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SONO TEK CORP CENTRAL INDEX KEY: 0000806172 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690] IRS NUMBER: 141568099 STATE OF INCORPORATION: NY FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16035 FILM NUMBER: 051277527 BUSINESS ADDRESS: STREET 1: 2012 RT 9W BLDG 3 CITY: MILTON STATE: NY ZIP: 12547 BUSINESS PHONE: 8457952020 MAIL ADDRESS: STREET 1: 2012 RT. 9W, BLDG. 3, CITY: MILTON STATE: NY ZIP: 12547 8-K 1 eps1957.txt SONO-TEK CORPORATION UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 21, 2005 Sono-Tek Corporation ------------------------------------------------------ (Exact name of registrant as specified in its charter) Commission File Number: 0-16035 New York 14-1568099 ------------------------ ------------------------ (State of Incorporation) (I.R.S. Employer ID No.) 2012 Route 9W, Milton, New York 12547 ---------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (845) 795-2020 Check appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions: |_| Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 7.01: Regulation FD Disclosure. On December 21, 2005, the Company issued a shareholder letter which included the quarterly sales revenue for the three month period ended November 30, 2005 in the form of the attached exhibit 99.1. Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 Shareholder letter dated December 2005. Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SONO-TEK CORPORATION By: /s/ Stephen J. Bagley --------------------- Stephen J. Bagley Chief Financial Officer December 21, 2005 EX-99.1 2 ex99-1.txt Exhibit 99.1 December 2005 Dear Shareholder: As we approach the end of the calendar year, I would like to take this opportunity to bring you up to date on the Company's progress. Our last-mailed communication to you was the annual report, which we issued in July of this year, so this is a good time to reconnect. Of course, you can always find our earnings and latest press releases on-line, either through the "Company/Investor" link on our website (www.sono-tek.com), or by looking up our symbol, SOTK:OB. As reported in our annual report and at our shareholders' meeting in August, Sono-Tek broke its previous sales and income records in the Fiscal year ending February 28, 2005. We saw our sales grow to $5.8M from a previous level of $3.5M, and our income before income taxes grew even faster to $807K from $201K. This growth was the result of our efforts to broaden our product offerings both within the electronics industry and in other industries. We successfully introduced new ultrasonic systems for coating printed circuit boards, medical implants, and glass production. We also started to market spray drying systems, which can be used to create nano-particles, through a relationship with Buchi, a Swiss firm. Additionally, we began selling solder recovery equipment through our partnership with EVS, located in the UK. Most of the growth took place within our established geographic markets, which are largely within North America, with a few overseas locations thrown in. Last year, we began to place emphasis on developing new markets overseas in places such as China, India, Southeast Asia, Europe, and Eastern Europe. Over the last twelve months, we have more than doubled the number of countries where we have an established sales distribution channel. We can now be thought of as a Company with a truly international presence. The initial investment in time and money is high when entering new geographic territories, but we are already seeing payback for our efforts, with sales being made in almost every country in these new markets. We also have entered into relationships with a company in India and one in China, that promise to add to our product basket in a very cost effective way. Geographic market expansion is as important as the development of new product offerings in creating future growth for Sono-Tek. We plan to continue both of these activities in the coming year. One question that Shareholders often ask is "how much sales and income growth will occur, and when?" Unfortunately, this is not easy to answer for a business like ours. We have gone beyond selling mainly smaller nozzle systems in the $5-$10K range, to selling large systems in the $40-$250k range as well, so having one or more of these large sales in a given quarter can have a large impact on the results, and the apparent quarter-to-quarter growth of our business. Shareholders have come to expect corporations to issue guidance on sales and income for upcoming quarters, with the implicit goal of seeing a smooth and constant growth forecast for each quarter. Yet this practice can lead to a short-term focus to "make the numbers", as opposed to a healthier longer-term focus on growing the business. Furthermore, the real world is bumpy rather than smooth, and the numbers presented should reflect reality each quarter, whether it is more or less attractive than hoped for. None the less, a partial answer about the future is available to you by looking back at our recent progress. Over the past four years we have been able to turn Sono-Tek into a financially strong company for the first time in its history. We have little debt, growing Shareholder equity, increasing top and bottom lines, new product offerings, a larger and stronger team, and new market locations around the world. Our team has worked hard to create this growth, and we are energized by our success. We want to achieve as much as we can in the years ahead. Some quarters may be better than others, due to the factors discussed above, but if our team continues to do what they have done in the past, we expect to see our efforts rewarded with success over time. That success probably will come more in "chunks" than in uniform and steady increases, since it often takes a lot of work to get the first product into a customer's factory. But once a customer is satisfied, typically a much larger opportunity prevails for follow-on sales. The table below will give you an idea of where we stand with sales for the nine months just ended, compared to last year and the year before that at the same time. These numbers speak for themselves. As you can see, we are currently experiencing the double-digit growth that we had described at the time of the Shareholder Meeting in August 2005, so we continue to believe that we are on the right track. Also included with this letter is a recent article that appeared about Sono-Tek in the Poughkeepsie Journal. We hope that this letter gives you some additional insight into your Company, and we look forward to our future communications with you next year. Sincerely, Christopher L. Coccio, Ph.D. President and Chief Executive Officer Sono-Tek Corporation Selected Financial Data (Unaudited) Nine Months Ended November 30, 2005 2004 2003 ------------------------------------------- Net Sales $5,082,730 $4,391,653 $2,395,002 ========== ========== ========== -----END PRIVACY-ENHANCED MESSAGE-----