Sono-Tek Corp. Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>Sono-Tek Corp. filed its Q3 2024 10-Q report on January 16, 2024, detailing financial performance for the period ending November 30, 2023.</b>

AI Summary

SONO TEK CORP (SOTK) filed a Quarterly Report (10-Q) with the SEC on January 16, 2024. Sono-Tek Corp. filed a 10-Q report for the period ending November 30, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on February 28. The filing was made on January 16, 2024. Sono-Tek Corp. is incorporated in New York and operates in the Special Industry Machinery sector.

Why It Matters

For investors and stakeholders tracking SONO TEK CORP, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance data for Sono-Tek Corp., crucial for assessing the company's current health and future prospects. Understanding the details within this report allows stakeholders to make informed investment decisions regarding Sono-Tek Corp.'s stock (SOTK).

Risk Assessment

Risk Level: medium — SONO TEK CORP shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) which typically contains routine financial information. However, the absence of specific financial performance data in the provided text limits a deeper risk assessment.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, management discussion, and risk factors to understand Sono-Tek Corp.'s performance and outlook.

Key Numbers

• 2023-11-30 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-01-16 — Filing Date (FILED AS OF DATE)
• 0228 — Fiscal Year End (FISCAL YEAR END)
• 2023-03-01 — Fiscal Year Start Date (DATE)
• 2022-03-01 — Prior Fiscal Year Start Date (DATE)
• 2023-09-01 — Q3 Fiscal Year Start Date (DATE)
• 2022-09-01 — Q3 Prior Fiscal Year Start Date (DATE)
• 2024 Q3 — Reporting Quarter (REPORTING QUARTER)

Key Players & Entities

• SONO TEK CORP (company) — FILER
• 0000806172 (company) — CENTRAL INDEX KEY
• 3559 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• NY (company) — STATE OF INCORPORATION
• 141568099 (company) — IRS NUMBER
• 2024-01-16 (date) — FILED AS OF DATE
• 2023-11-30 (date) — CONFORMED PERIOD OF REPORT
• 2024-01-12 (date) — DATE

FAQ

Key Dates

• 2024-01-16: 10-Q Filing — Filing of the quarterly report for the period ending November 30, 2023.
• 2023-11-30: End of Reporting Period — Marks the end of the fiscal third quarter for Sono-Tek Corp.
• 2023-02-28: Fiscal Year End — Indicates the end of Sono-Tek Corp.'s fiscal year.

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share SOTK NASDAQ Ind

Filing Documents

• eps11090_sotk.htm (10-Q) — 611KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 3KB
• ex32-2.htm (EX-32.2) — 3KB
• sonotek-logo.jpg (GRAPHIC) — 95KB
• 0001171520-24-000022.txt (&nbsp;) — 3239KB
• sotk-20231130.xsd (EX-101.SCH) — 23KB
• sotk-20231130_cal.xml (EX-101.CAL) — 38KB
• sotk-20231130_def.xml (EX-101.DEF) — 69KB
• sotk-20231130_lab.xml (EX-101.LAB) — 184KB
• sotk-20231130_pre.xml (EX-101.PRE) — 148KB
• eps11090_sotk_htm.xml (XML) — 385KB

- Financial Information

Part I - Financial Information

– Condensed Consolidated Financial Statements

Item 1 – Condensed Consolidated Financial Statements: 1 - 4 Condensed Consolidated Balance Sheets – November 30, 2023 (Unaudited) and February 28, 2023 1 Condensed Consolidated Statements of Income – Nine and Three Months Ended November 30, 2023 and 2022 (Unaudited) 2 Condensed Consolidated Statements of Stockholders' Equity – Nine and Three Months Ended November 30, 2023 and 2022 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows – Nine Months Ended November 30, 2023 and 2022 (Unaudited) 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 - 10

- Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 11 –17

– Quantitative and Qualitative Disclosures about Market Risk

Item 3 – Quantitative and Qualitative Disclosures about Market Risk 18

– Controls and Procedures

Item 4 – Controls and Procedures 18

- Other Information

Part II - Other Information 19 Signatures and Certifications 20 SONO-TEK CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS November 30, 2023 (Unaudited) February 28, 2023 ASSETS Current Assets: Cash and cash equivalents $ 2,981,931 $ 3,354,601 Marketable securities 9,609,444 8,090,000 Accounts receivable (less allowance of $ 12,225 ) 1,762,309 1,633,866 Inventories 4,252,550 3,242,909 Prepaid expenses and other current assets 81,785 254,046 Total current assets 18,688,019 16,575,422 Land 250,000 250,000 Buildings, equipment, furnishings and leasehold improvements, net 2,850,100 2,624,996 Intangible assets, net 51,674 57,202 Deferred tax asset 842,010 667,098 TOTAL ASSETS $ 22,681,803 $ 20,174,718 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 1,504,382 $ 810,863 Accrued expenses 1,720,020 1,427,446 Customer deposits 3,143,009 2,838,165 Income taxes payable 248,152 381,421 Total current liabilities 6,615,563 5,457,895 Deferred tax liability — 82,865 Total liabilities 6,615,563 5,540,760 Stockholders' Equity Common stock, $ .01 par value; 25,000,000 shares authorized, 15,745,206 and 15,742,073 shares issued and outstanding, respectively 157,452 157,421 Additional paid-in capital 9,714,301 9,566,898 Accumulated earnings 6,194,487 4,909,639 Total stockholders' equity 16,066,240 14,633,958 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 22,681,803 $ 20,174,718 See notes to unaudited condensed consolidated financial statements. 1 SONO-TEK CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Nine Months Ended November 30, Three Months Ended November 30, 2023 2022 2023 2022 Net Sales $ 14,932,157 $ 11,401,029 $ 5,690,022 $ 3,586,165 Cost of Goods Sold 7,428,348 5,574,035 2,764,013 1,761,797 Gross Profit 7,503,809 5,826,994 2,926,009 1,824,368 Operating Expenses Research and produc

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View this 10-Q filing on SEC EDGAR