MILTON, N.Y. -- Sold highest value machine to date for approximately $1.6 million; solution to be used in precision semiconductor manufacturing process

Company also announces preliminary revenue expectations for the first nine months of fiscal 2019 of approximately $8.6 million to $9.0 million, up 5% to 10% over prior-year period.

Backlog at third quarter end expected to exceed historic record

Sono-Tek Corporation (SOTK), the leading developer and manufacturer of ultrasonic coating systems, announced that it received two orders totaling approximately $2.0 million from its Medical and Microelectronic/Electronics markets.

The award from its Microelectronic/Electronics market customer was the Company’s highest value single ultrasonic coating machine order to date. Valued at approximately $1.6 million, the equipment will be delivered by the end of fiscal year 2020, which concludes February 28, 2020, and revenue will be recognized at various stages during the year. The solution is a highly sophisticated ultrasonic coating machine for a European manufacturer of equipment used in precision fabrication of semiconductor wafers. The second order was from a European medical devices company that is expanding operations in its Caribbean manufacturing facility. The ultrasonic coating solution is valued at approximately $0.4 million and is expected to be delivered in the second quarter of fiscal 2020.

Dr. Christopher L. Coccio, Chairman and CEO noted, “These awards validate the value of our coatings applications expertise in these industries and our ability to custom design thin coating solutions for our customers. We believe the recognition of our superior thin coating solutions is gaining greater traction over traditional coating techniques in the microelectronics and medical markets, as well as the many other markets we serve.”

The Company also announced preliminary unaudited revenue for the first nine months of fiscal 2019, which ends November 30, 2018. Revenue is expected to be approximately $8.6 million to $9.0 million, representing an increase of between 5% and 10% compared with the prior-year period. Preliminary results are subject to change pending review by the Company’s independent accountants.

Dr. Coccio added, “These two orders and the recently announced wins in the fuel cell market will drive our backlog to a record level for the third quarter of fiscal 2019, fostering strong prospects for fiscal 2020. As we advance our strategy to expand the use of ultrasonic coating as a preferred coating solution in our targeted markets, we are investing in people and research to capture a larger addressable market. Given the numerous opportunities we are addressing and investments for these new project wins, we expect costs and cash consumption to increase ahead of revenue growth over the next several quarters.”

The Company expects to release its full third quarter fiscal 2019 financial results in mid-January 2019.

About Sono-Tek

Sono-Tek Corporation is the leading developer and manufacturer of ultrasonic coating systems for applying precise, thin film coatings to protect, strengthen or smooth surfaces on parts and components for the microelectronics/electronics, alternative energy, medical and industrial markets, including specialized glass applications in construction and automotive.

The Company’s solutions are environmentally-friendly, efficient and highly reliable, and enable dramatic reductions in overspray, savings in raw material, water and energy usage and provide improved process repeatability, transfer efficiency, high uniformity and reduced emissions.

Sono-Tek’s growth strategy is focused on leveraging its innovative technologies, proprietary know-how, unique talent and experience, and global reach to further develop thin film coating technologies that enable better outcomes for its customers’ products and processes. For further information, visit www.sono-tek.com.

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