-----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, APGBiKR258jj4ihcfmCkCv+HxcNpVH6aXva6aylRJX6v4yRWutkGjKhzOyowMT04 h5geUFoqIr/dXx6PNtCoWw== 0001171520-07-000616.txt : 20071016 0001171520-07-000616.hdr.sgml : 20071016 20071016104743 ACCESSION NUMBER: 0001171520-07-000616 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071015 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071016 DATE AS OF CHANGE: 20071016 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: 071173383 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 eps2669.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): October 15, 2007 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 October 15, 2007, the Company issued a press release regarding the quarterly earnings for the three month period ended August 31, 2007 in the form of the attached exhibit 99.1. Item 9.01: Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release dated October 15, 2007. 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 October 15, 2007 EX-99.1 2 ex99-1.txt PRESS RELEASE Exhibit 99.1 Sono-Tek Announces Second Quarter Earnings and Major Business Development Program ---------------------------------- (October 15, 2007-Milton, NY) Sono-Tek Corporation (OTC BB: SOTK) today announced sales of $1,414,523 for the three months ended August 31, 2007, compared to sales of $1,833,938 for the same period last year. For the three months ended August 31, 2007, the Company had net income of $12,070 compared to $233,836 for the prior year period. Earnings per share for the three months ended August 31, 2007 was $.00 compared to $.02 for the prior year period. Sales were lower than last year due to a slowdown in the US economy and its impact on the Company's customers. One factor has been the decline in the domestic housing market and its impact on electronics purchases. However, sales were higher than the $1,232,643 reported in the first quarter of the current fiscal year. Net income for the second quarter was below the same quarter of last year due to the reduced sales volume noted above, as well as the funding of new initiatives from operating income in the current quarter. New Business Development Program Announced Dr. Christopher L. Coccio, Chairman and CEO, announced that "a recent meeting of the Board of Directors has approved a multi-year business development program where the Company will invest approximately $2M in creating new business growth. The program will be led by Dr. Joseph Riemer, who was recently appointed as President of Sono-Tek, and has as its goal a substantial increase in revenues over the next several years to move Sono-Tek into the $10-$20m revenue arena. Funding for the program will be primarily derived from operating revenues, possibly augmented with some of our cash reserves and is not expected to require external funding. The program is similar to the new initiatives that have been underway in the first and second quarters of the current fiscal year." The program will focus on areas where the Company has demonstrated capabilities and where there appears to be more opportunity that could be served with additional technical and sales personnel. Such areas include medical device coatings, coatings for solar and fuel cell devices serving the clean energy market, biodegradable food packaging and applications of natural antimicrobials to food products, and the glass and textile industries. Sono-Tek is pursuing this program as a means to counteract the current slowdown in the electronics industry, as well as to add further diversification to our top line. Sono-Tek believes that trading current income for future growth is the right choice for the Company at this time, although it recognizes the risks inherent in any spending program and it will monitor the spending and results as it goes forward. For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit our website at www.sono-tek.com Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company's products have long been recognized for their performance, quality, and reliability. This earnings 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 factors include, among other considerations, general economic and business conditions; political, regulatory, competitive and technological developments affecting the Company's operations or the demand for its products; timely development and market acceptance of new products; adequacy of financing; capacity additions, the ability to enforce patents and the successful implementation of the business development program. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-KSB and Form 10-QSBs containing additional important information. Sono-Tek Corporation Selected Financial Data Unaudited
Six Months Ended August 31, Three Months Ended August 31, 2007 2006 2007 2006 ---- ---- ---- ---- Net Sales $ 2,647,166 $ 3,615,682 $ 1,414,523 $ 1,833,938 =========== =========== =========== =========== Net Income $ 31,984 $ 358,667 $ 12,070 $ 233,836 =========== =========== =========== =========== Basic Earnings Per Share $ 0.00 $ 0.02 $ 0.00 $ 0.02 =========== =========== =========== =========== Diluted Earnings Per Share $ 0.00 $ 0.02 $ 0.00 $ 0.02 =========== =========== =========== =========== Weighted Average Shares - Basic 14,360,541 14,359,341 14,360,541 14,360,541 =========== =========== =========== =========== Weighted Average Shares - Diluted 14,445,376 14,461,122 14,444,427 14,460,211 =========== =========== =========== ===========
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