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Stock impact report

Sono-Tek Reports Increased Sales and Operating Income for First Quarter Fiscal 2023 and Provides Second Quarter and Fiscal 2023 Sales Guidance

Sono-Tek Corporation (SOTK) 
NASDAQ:AMEX Investor Relations: sono-tek.com/investor-relations
Company Research Source: GlobeNewswire
Sales of $4.05M, up 11% and Gross Profit of $2.11M, up 16% Year-over-Year MILTON, NY, July 18, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Sono-Tek Corporation (Nasdaq: SOTK), the leading developer and manufacturer of ultrasonic coating systems, today reported financial results for its first quarter period of fiscal year 2023, ended May 31, 2022. First Quarter FY2023 Financial Highlights: (Compared with prior-year period unless otherwise noted)  Net Sales were $4,052,000, an increase of 11%, primarily driven by strength in the medical, alternative energy and emerging R&D markets. Gross Profit increased 16% to $2,107,000 due to the increase in sales and a favorable product mix. Gross Margin expanded 200 basis points to 52.0% primarily due to a favorable product mix. Net income increased 17% to $306,000, excluding PPP Loan forgiveness of $1,005,000 Show less Read more
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