The following is a summary of the Sono-Tek Corporation (SOTK) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Sono-Tek Corporation reported a record-breaking increase in full-year revenue, rising by 30% to $19.7 million.

• The company's backlog has also grown by 7% to $9.1 million compared to the previous year.

• Gross profit increased by 29% to $9.8 million, although profit margin slightly decreased due to increased indirect production costs.

• Operating income saw a significant surge of 73% to reach $1.2 million, despite higher operating expenses.

• Net income also jumped considerably by 127% to $1.4 million.

• The company held $12 million in cash and marketable securities and has no debt.

Business Progress:

• Significant advancements were achieved in growth industries such as microelectronics and semiconductors, medical devices, and clean energy.

• The company increased its workforce by about 15% to enhance its IT department following an increase in sales spurred by product expansion investments.

• Record-breaking orders were secured from the clean energy sector and a milestone number of high-volume, high average selling price production systems were delivered in a single year.

• An investment of approximately $450,000 is expected for equipment and facility upgrades.

• An 8% to 10% year-over-year revenue growth is expected in fiscal year 2025, with plans to deliver four high-average selling price volume production systems.

• In advancement of its services, the company is exploring new implantable device coatings for broad medical applications, backed by enhanced application engineering development capabilities.

• To enhance revenue stability, the company is planning to boost services-related aspects of its operations.

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