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Sono-Tek Swings to Loss on Sales Gain |
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Written by Mike Buetow
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Friday, 17 October 2008 |
MILTON, NY -- Sono-Tek's August quarter sales rose 13% year-over-year to $1.61 million but the company swung to a net loss of $177,000.
For the period ended Aug. 31, the Company reversed its previous year's profits of $12,000, citing increased spending on technical and market developments for a new business development
program.
Chairman and CEO Dr. Christopher L.
Coccio attributed the increase to the new business
development program, and noted that the sales increase was based on products
such as the Exactacoat and Flexicoat, which serve the new solar and fuel cell
markets, WideTrack systems for new glass customers and our first textile
finishing system, and the new line of SonoDry ultrasonic spray dryers for the
pharmaceutical and nanotechnology industries.
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