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Sono-Tek wins $2.0 million in orders
Sono-Tek Corporation, a developer and manufacturer of ultrasonic coating systems, says that it has received two orders totalling approximately USD 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 USD 1.6 million, the equipment will be delivered by the end of fiscal year 2020, which concludes February 28, 2020, and revenue will be recognised at various stages during the year. The solution is an 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 USD 0.4 million and is expected to be delivered in the second quarter of fiscal 2020, a press release details. 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 USD 8.6 million to USD 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.
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