Sono-Tek Corp. Files Q1 2025 10-Q
Ticker: SOTK · Form: 10-Q · Filed: Jul 11, 2024 · CIK: 806172
| Field | Detail |
|---|---|
| Company | Sono Tek Corp (SOTK) |
| Form Type | 10-Q |
| Filed Date | Jul 11, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, Sono-Tek Corp
TL;DR
Sono-Tek's Q1 2025 10-Q is in. Check financials.
AI Summary
Sono-Tek Corp. filed its 10-Q for the period ending May 31, 2024. The filing details the company's financial performance and position. Specific financial figures and operational details for the first quarter of fiscal year 2025 are provided.
Why It Matters
This filing provides investors and analysts with the latest financial data for Sono-Tek Corp., crucial for understanding the company's performance and making informed investment decisions.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks disclosed.
Key Numbers
- Q1 2025 — Fiscal Quarter (Reporting period for the 10-Q filing.)
- 0228 — Fiscal Year End (Indicates the company's fiscal year concludes on February 28th.)
Key Players & Entities
- SONO TEK CORP (company) — Filer
- 20240531 (date) — Period of Report
- 20240711 (date) — Filing Date
- 001-40763 (other) — SEC File Number
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is May 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 11, 2024.
What is Sono-Tek Corp.'s fiscal year end?
Sono-Tek Corp.'s fiscal year ends on February 28.
What is the SEC file number for Sono-Tek Corp.?
The SEC file number for Sono-Tek Corp. is 001-40763.
What is the SIC code for Sono-Tek Corp.?
The Standard Industrial Classification (SIC) code for Sono-Tek Corp. is 3559 (Special Industry Machinery, NEC).
Filing Stats: 4,470 words · 18 min read · ~15 pages · Grade level 17 · Accepted 2024-07-11 10:51:15
Key Financial Figures
- $0.01 — e on which registered Common Stock, $0.01 par value per share SOTK NASDAQ Ind
Filing Documents
- eps11249_sotk.htm (10-Q) — 426KB
- ex31-1.htm (EX-31.1) — 9KB
- ex31-2.htm (EX-31.2) — 9KB
- ex32-1.htm (EX-32.1) — 3KB
- ex32-2.htm (EX-32.2) — 3KB
- sonotek-logo.jpg (GRAPHIC) — 95KB
- 0001171520-24-000249.txt ( ) — 2857KB
- sotk-20240531.xsd (EX-101.SCH) — 22KB
- sotk-20240531_cal.xml (EX-101.CAL) — 38KB
- sotk-20240531_def.xml (EX-101.DEF) — 62KB
- sotk-20240531_lab.xml (EX-101.LAB) — 180KB
- sotk-20240531_pre.xml (EX-101.PRE) — 144KB
- eps11249_sotk_htm.xml (XML) — 272KB
– Financial Information
Part I – Financial Information Page
– Condensed Consolidated Financial Statements
Item 1 – Condensed Consolidated Financial Statements: 1 – 4 Condensed Consolidated Balance Sheets – May 31, 2024 (Unaudited) and February 29, 2024 1 Condensed Consolidated Statements of Income – Three Months Ended May 31, 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Stockholders' Equity – Three Months Ended May 31, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows – Three Months Ended May 31, 2024 and 2023 (Unaudited) 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 – 11
- 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 12 –18
– Quantitative and Qualitative Disclosures about Market Risk
Item 3 – Quantitative and Qualitative Disclosures about Market Risk 19
– Controls and Procedures
Item 4 – Controls and Procedures 19
– Other Information
Part II – Other Information 20 Signatures and Certifications 21
– Condensed Consolidated Financial Statements
Item 1 – Condensed Consolidated Financial Statements: SONO-TEK CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS May 31, 2024 February 29, (Unaudited) 2024 ASSETS Current Assets: Cash and cash equivalents $ 2,402,007 $ 2,134,786 Marketable securities 9,749,483 9,711,351 Accounts receivable (less allowance of $ 12,225 ) 1,401,582 1,470,711 Inventories 5,479,368 5,221,980 Prepaid expenses and other current assets 148,603 207,738 Total current assets 19,181,043 18,746,566 Land 250,000 250,000 Buildings, equipment, furnishings and leasehold improvements, net 2,709,183 2,832,156 Intangible assets, net 45,020 47,566 Deferred tax asset 1,369,210 1,255,977 TOTAL ASSETS $ 23,554,456 $ 23,132,265 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 1,020,777 $ 1,049,742 Accrued expenses 1,711,800 1,739,478 Customer deposits 3,339,816 3,419,706 Income taxes payable 618,010 414,807 Total current liabilities 6,690,403 6,623,733 Deferred tax liability 199,987 229,534 Total liabilities 6,890,390 6,853,267 Commitments and Contingencies (Note 9) — — Stockholders' Equity Common stock, $ .01 par value; 25,000,000 shares authorized, 15,750,880 shares issued and outstanding as of May 31, 2024 and February 29, 2024 157,509 157,509 Additional paid-in capital 9,824,618 9,770,387 Accumulated earnings 6,681,939 6,351,102 Total stockholders' equity 16,664,066 16,278,998 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 23,554,456 $ 23,132,265 See notes to unaudited condensed consolidated financial statements. 1 SONO-TEK CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended May 31, 2024 2023 Net Sales $ 5,031,038 $ 3,603,018 Cost of Goods Sold 2,576,551 1,825,786 Gross Profit 2,454,487 1,777,232 Operating Expenses Research and product development costs 731,430 656,438 Marketing and selling expen