MILTON, N.Y., Jan. 15, 2014 /PRNewswire/ -- Sono-Tek Corporation (OTC BB: SOTK) today announced sales of $2,650,000 for the three months ended November 30, 2013, compared to sales of $2,202,000 for the prior year period, an increase of $448,000 or 20%. Once again, this quarter has also shown growth over the preceding quarter's sales, continuing a trend that began in the first quarter of this fiscal year. Markets that experienced sales increases over the prior year were in the float glass industry, the food industry, and the semiconductor industry. In the medical device area, the Company saw a decrease in stent coating, but the Company's new balloon catheter coating area has grown as some customers are moving into this more advanced cardiac treatment approach. The clean energy (solar and fuel cells) market is slower than last year as previously predicted, but the Company is optimistic for it to slowly recover over the next few years as production costs in this market decrease. China, in particular, has large plans for implementing solar energy as part of its campaign to reduce pollution which may bode well for the Company's sales to the solar and fuel cell markets. Geographically, US sales are consistent with last year, Latin America is up, and China has shown a significant recovery. Sales to India and Russia have also been on the rise this year, while Europe is slightly slower at this point in its recovery.
The Company reported income before taxes of $265,000 for the three months ended November 30, 2013, compared to $39,000 for the prior year period, an increase of $226,000. For the nine month period ended November 30, 2013, the Company reported income before taxes of $531,000 compared to $70,000 for the prior year period, an increase of $461,000.<
|SOURCE Sono-Tek Corporation|
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