Sono-Tek Announces $1.6 Million Order for the Advanced Textiles Industry
Order is the Largest System for the Textile Industry to DateMILTON, NY, July 22, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Sono-Tek Corporation (OTCQX: SOTK), the leading developer and manufacturer of ultrasonic coating systems, today announced that it has received a significant new order for two systems to be used in the Advanced Textiles industry, with a total value of approximately USD $1.6 million. The order is among the largest that the Company has received in its history and is for a high-volume proprietary ultrasonic coating system for an international customer, which is expected to be shipped in two installments during Sono-Tek’s fiscal year 2021 (ending February 28, 2021). Sono-Tek’s applications engineering team has worked closely with the customer to ensure that this system will provide the unique coating characteristics needed for the creation of their specialized advanced textile product. Sono-Tek’s unique ultrasonic nozzle technology has enabled the Company to apply specialized coatings onto industrial products for many years in R&D and pilot applications, enabling the creation of new functional high-tech products with novel nanomaterials. “We are excited to be involved in the development of new products and markets such as advanced functional textiles, especially in the high-volume production environment where this system will be utilized. We’re proud of the adaptability of Sono-Tek’s proprietary technology that allows seamless scaling of new applications to high-volume manufacturing, with greater capabilities and lower cost of ownership when compared to other coating technologies available today,” said Bennett Bruntil, Vice President of Sales and Marketing for Sono-Tek.About Sono-TekSono-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 microscopic coating technologies that enable better outcomes for its customers’ products and processes.For further information, visit www.sono-tek.com.Safe Harbor Statement
We discuss expectations regarding our future performance, such as our business outlook, in our annual and quarterly reports, press releases, and other written and oral statements. These “forward-looking statements” are based on currently available competitive, financial and economic data and our operating plans. They are inherently uncertain, and investors must recognize that events could turn out to be significantly different from our expectations. These factors include, among other considerations, general economic and business conditions; political, regulatory, tax, competitive and technological developments affecting our operations or the demand for our products; the duration and scope of the COVID-19 pandemic; the extent and duration of the pandemic’s adverse effect on economic and social activity, consumer confidence, discretionary spending and preferences, labor and healthcare costs, and unemployment rates, any of which may reduce demand for some of our products and impair the ability of those with whom we do business to satisfy their obligations to us; our ability to sell and provide our services and products, including as a result of continued pandemic related travel restrictions, mandatory business closures, and stay-at home or similar orders; any temporary reduction in our workforce, closures of our offices and facilities and our ability to adequately staff and maintain our operations resulting from the pandemic; the ability of our customers and suppliers to continue their operations as result of the pandemic, which could result in terminations of contracts, losses of revenue, and further adverse effects to our supply chain; maintenance of increased order backlog, including effects of any COVID-19 related cancellations; the imposition of tariffs; timely development and market acceptance of new products and continued customer validation of our coating technologies; adequacy of financing; capacity additions, the ability to enforce patents; maintenance of operating leverage; consummation of order proposals; completion of large orders on schedule and on budget; successful transition from primarily selling ultrasonic nozzles and components to a more complex business providing complete machine solutions and higher value subsystems; and realization of quarterly and annual revenues within the forecasted. We undertake no obligation to update any forward-looking statement.Contact:Stephen J. BagleyChief Financial OfficerSono-Tek Corporationinfo@sono-tek.com
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