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Sono-Tek Reports Q1 Sales Up 31% |
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Written by Chelsey Drysdale
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Tuesday, 15 July 2008 |
MILTON, NY – Sono-Tek Corp. today reported first-quarter sales of $1.62 million, up 31% year-over-year. The company attributes the increase to its business development program and sales of newer products that are part of this program. The company reported a net loss of $130,458 for the quarter, compared to net income of $19,914 for the prior year period. The loss is attributed to investment in the above mentioned business development program. Dr. Christopher L. Coccio, Sono-Tek’s chairman and CEO, said, “ … we expect to create future growth opportunities for the company over the next year or two with these investments. We are actively creating new business in the alternative energy market for fuel cell and solar cell coatings, medical device coatings, glass coatings, textile coatings, and food and food packaging coatings.”
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