Exhibit 99.1
Sono-Tek Announces Year End Earnings
(May 12, 2006-Milton, NY) Sono-Tek Corporation (OTC BB: SOTK) today announced
sales of $6,871,000 for the fiscal year ended February 28, 2006. The reported
sales volume is an increase of $1,067,000 or 18% over the prior year's sales
volume. The Company's sales levels are increasing as the result of continued new
product development efforts and related marketing thrusts, and expansion into
international markets.
Net income for the year was $1,043,000, an increase of $248,000 or 31% over the
prior year.
The Company's working capital increased $2,032,000 from a working capital of
$1,667,000 at February 28, 2005 to $3,699,000 at February 28, 2006.
Stockholders' equity increased $1,924,000 from $2,306,000 at February 28, 2005
to $4,230,000 at February 28, 2006.
On May 10, Dr. Christopher L. Coccio, President and CEO of Sono-Tek Corporation
updated the investment community in an exclusive interview with www.wallst.net .
Topics covered in the interview include an overview of the Company and the
markets it serves, recent press releases, current capitalization, and upcoming
strategic and financial milestones.
To hear the interview in its entirety, visit www.wallst.net , and click on
"Interviews." Interviews require free registration, and can be accessed either
by locating the respective company's ticker symbol under the appropriate
exchange on the left-hand column of the "Interviews" section of the site, or by
entering the respective company's ticker symbol in the Search Archive window.
Sono-Tek has been invited to participate in a New York State investors
conference May 15 and 16 at the Albany Marriott in Albany, NY, which is being
co-sponsored by the Albany Nanotech Center. Information on the conference is
available on the Investor Conference website at www.nysinvest.com.
Sono-Tek's presentation will be at 11am on Tuesday, May 16. The presentation
will be webcast and will include both audio and presentation slides. To access
the webcast, please visit http://www.wsw.com/webcast/nys2/sotk/ , registration
is required and the webcast will be available for ninety days afterwards.
On May 23, Dr. Christopher L. Coccio, President and CEO of Sono-Tek Corporation
will be interviewed by "The Wall Street Transcript", please visit
http://www.twst.com/ for more information.
For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or
visit our website at www.sono-tek.com
Sono-Tek Corporation is a leading developer and manufacturer of liquid spray
products based on its proprietary ultrasonic nozzle technology. Founded in 1975,
the Company's products have long been recognized for their performance, quality,
and reliability.
This earnings release contains forward looking statements regarding future
events and the future performance of Sono-Tek Corporation that involve risks and
uncertainties that could cause actual results to differ materially. These
factors include, among other considerations, general economic and business
conditions; political, regulatory, competitive and technological developments
affecting the Company's operations or the demand for its products; timely
development and market acceptance of new products; adequacy of financing;
capacity additions and the ability to enforce patents. We refer you to documents
that the company files with the Securities and Exchange Commission, which
includes Form 10-KSB and Form 10-QSBs containing additional important
information.
Sono-Tek Corporation
Selected Financial Data
Fiscal Year Ended February 28,
------------------------------
2006 2005
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Net Sales $ 6,871,069 $ 5,803,586
Net Income $ 1,043,320 $ 795,302
Basic Earnings Per Share - $ 0.07 $ 0.07
Diluted Earnings Per Share - $ 0.07 $ 0.07
Weighted Average Shares - Basic 14,156,972 11,708,331
Weighted Average Shares - Diluted 14,274,493 12,006,170