-----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, JLP5bmukA6dpIGCF6Vpfjyc7tk5IHq/yyK2K7fc0JxD577ZQWR05kxFeoG4u1js1 Mfc1WLrc0VwxWHDPvoocbQ== 0001275287-05-002101.txt : 20050611 0001275287-05-002101.hdr.sgml : 20050611 20050601100034 ACCESSION NUMBER: 0001275287-05-002101 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050531 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050601 DATE AS OF CHANGE: 20050601 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: 05869199 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 st2856.txt ================================================================================ 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): May 31, 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 2.02 Results of Operations and Financial Condition On May 31, 2005, Sonotek Corporation issued a press release announcing results for the first quarter of 2005. The press release is attached here as exhibit 99.1. Item 9.01 Financial Statements and Exhibits (c) Exhibits 99.1 Press release dated May 31, 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/ Christopher L. Coccio ------------------------- Christopher L. Coccio Chief Executive Officer May 31, 2005 EX-99.1 2 st2856ex991.txt Exhibit 99.1 SONO-TEK ANNOUNCES ITS ANNUAL EARNINGS MILTON, N.Y., May 31 /PRNewswire-FirstCall/ -- Sono-Tek Corporation (OTC Bulletin Board: SOTK) today announced sales of $5,803,586 for the year ended February 28, 2005 compared to sales of $3,501,594 for the same period last year, an increase of 66% or $2,301,992. The increases in sales are due to a geographical expansion of the markets that the Company serves as well as diversification of the Company's product lines beyond electronics to include applications in the medical, industrial coatings, and nanotechnology areas. For the year ended February 28, 2005, the Company had operating income of $835,673 compared to $359,504 last year and net income of $795,302 compared to $785,229 last year. Most significantly, the Company had income before income taxes of $807,302 for the year ended February 28, 2005 compared to $201,339 last year, a 400% increase in profitability (the net income for the preceding year included a $583,890 tax benefit, resulting from the recognition of a deferred tax asset). The Diluted Earnings per Share was $.07 for the year ended February 28, 2005, compared to $.07 for the year ended February 29, 2004, which included the deferred tax benefit noted above. The Company's balance sheet is greatly improved from last year at this time with liabilities reduced from $1,898,247 at February 29, 2004 to $1,134,557 at February 28, 2005, and shareholders' equity improved from $586,847 at February 29, 2004 to $2,305,511 at February 28, 2005. Important factors in this improvement were improving operating income and additional equity investments in the Company. According to Dr. Christopher L. Coccio, Sono-Tek's CEO and President, "The Company has continued to advance the application of its proprietary ultrasonic atomization technology both to both new geographical areas and new technical applications. We are continuing to develop new coating systems to further enhance our position in the medical device, and plate glass manufacturing industries, and we are involved in application trials in the textile and food industry which represent future opportunities for the Company." Dr. Coccio also indicated that the results for the first quarter of the current fiscal year, which ends May 31, 2005, has continued the higher level of sales experienced in recent quarters. These results will reviewed and released in mid-July, 2005. For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit The Company's website at http://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 and the ability to enforce patents. 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 Year Ended ---------------------------- February 28, February 29, 2005 2004 ------------ ------------ Net Sales $ 5,803,586 $ 3,501,594 Operating Income $ 835,673 $ 359,504 Income before Income Taxes $ 807,302 $ 201,339 Income Tax (Expense)/Benefit $ (12,000) $ 583,890 Net Income $ 795,302 $ 785,229 Basic Earnings per Share $ 0.07 $ 0.08 Diluted Earnings per Share $ 0.07 $ 0.07 Weighted Average Shares - Basic 11,708,331 9,248,175 Weighted Average Shares - Diluted 12,006,170 11,414,584 SOURCE Sono-Tek Corporation -0- 05/31/2005 /CONTACT: Christopher L. Coccio of Sono-Tek Corporation, +1-845-795-2020/ /Web site: http://www.sono-tek.com/ -----END PRIVACY-ENHANCED MESSAGE-----