Sono-Tek Corp. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended November 30, 2014; Provides Earnings Guidance for the Fourth Quarter of Fiscal Year 2015; Provides Sales Guidance for the Fiscal Year 2016
For the nine months, the company reported net sales of $7,906,332 compared to $7,561,998 a year ago. Income before taxes was $549,071 compared to $530,945 a year ago. The company reported net income of $384,100 compared to $350,424 for the prior year period. Basic and diluted earnings per share were $0.03 compared to $0.02 a year ago.
Based on backlog, shipments and proposals, the company expects another sales increase for the fourth quarter of this Fiscal Year, with continuing strength in sales of stent coating units, semiconductor coating machinery and PCB fluxing equipment to the electronics industry. The company also expects to report continuing profitability in the fourth quarter, based on backlog and shipments to date.
The company is preliminarily targeting 10% sales growth in fiscal year 2016.