-----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, JAZWXVVxfxcQRLViEcqWDtWqfrGdBETZ7u7EezbXzsYNnhefBqJ7mrQK+g5oxhb5 ljv8wzuzqcE3XT5SGAJ+Yg== 0001171520-11-000027.txt : 20110112 0001171520-11-000027.hdr.sgml : 20110112 20110112164506 ACCESSION NUMBER: 0001171520-11-000027 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110112 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110112 DATE AS OF CHANGE: 20110112 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: 11525834 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 eps4045.htm 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): January 12, 2011

 

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 January 12, 2011, Sono-Tek Corporation issued a press release regarding its financial results for the quarter ended November 30, 2010, in the form attached as exhibit 99.1

 

Item 9.01: Financial Statements and Exhibits.

 

(d) Exhibits

 

99.1 Press Release dated January 12, 2011.

 

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

January 12, 2011

 

 

EX-99.1 CHARTER 2 ex99-1.htm

Exhibit 99.1

 

 

Sono-Tek Announces Third Quarter Results

 

(January 12, 2011 – Milton, NY) Sono-Tek Corporation (OTC BB:SOTK) today announced sales of $2,587,818 for the three months ended November 30, 2010, compared to sales of $1,980,321 for the same period last year, an increase of 31% and another record sales level for the Company. For the nine months ended November 30, 2010, the Company’s sales increased to $7,303,606 from $5,128,933 for the same period last year, an increase of 42%. The Company attributed these strong sales increases to the Company’s diversification program. The increases were across the board with sales to electronics companies for fluxing equipment, sales to advanced energy companies for equipment to provide coatings for solar panels and fuel cells, sales to large glass manufacturers for protective coating systems and sales to medical device manufacturing companies requiring high precision coatings on implantable devices. The food segment also showed promise in the recent quarter, with several orders in-house and shipped, involving coatings for baked goods.

 

As a result of increased sales and carefully managed costs, the Company reported net income of $213,922 for the three months ended November 30, 2010 as compared to $135,233 for the same period last year. For the nine months ended November 30, 2010, the Company reported net income of $434,562 as compared to $6,353 for the same period last year. The strong increase in profitability was a direct result of increased sales coupled with appropriate cost controls as our Company grows.

 

According to Dr. Christopher L. Coccio, Chairman and CEO, “We are extremely pleased with these record revenues and associated strong profitability. We invested in globalizing the business during the downturn, and now over two-thirds of our sales are due to exports to rapidly growing parts of the world. In addition, the successful product diversification of our proprietary ultrasonic spraying and coating technology into new market niches has played a major role in our organic growth. We recently announced the purchase of the entire industrial park where our business is located, in order to have adequate expansion space for current and longer term staffing and manufacturing requirements. As we look ahead to the end of our fiscal year in February, we anticipate another strong quarter in terms of sales and income. We now expect to finish the year with about $10 million in revenue, which is even more than the $9 million forecast given at the Shareholders Meeting in August, and approximately 38% growth over the last Fiscal Year, with profit growth by a factor of 7-8 times last year’s figures. Furthermore, we are already building backlog for a solid first quarter of the next fiscal year beginning on March 1, 2011.”

 

 

 
 

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 ability to achieve expected increased sales volume and continued profitability. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-K and Form 10-Qs containing additional important information.

 

 

Sono-Tek Corporation

Selected Financial Data

Unaudited

 

   Nine Months Ended November 30,  Three Months Ended November 30,
  2010 2009  2010  2009
             
Net Sales  $7,303,606   $5,128,933   $2,587,818   $1,980,321 
                     
Net Income  $434,562   $6,353   $213,922   $135,233 
                     
Basic Earnings Per Share  $0.03   $0.00   $0.02   $0.01 
                     
Diluted Earnings Per Share  $0.03   $0.00   $0.01   $0.01 
                     
Weighted Average Shares - Basic   14,438,398    14,414,889    14,440,192    14,415,214 
                     
Weighted Average Shares - Diluted   15,250,807    14,459,671    15,233,760    14,535,372 

 

For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit our website at www.sono-tek.com

 

 

 

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