Sono-Tek Corporation reported its financial results for the second quarter and first half of fiscal year 2025, ended August 31, 2024. For the second quarter, net sales decreased by 8% to $5.162 million compared to $5.6 million in the prior-year period, which had reflected a strong recovery from supply chain constraints. Net income for the quarter was $341 thousand, or $0.02 per share, down from $541 thousand, or $0.03 per share, in the second quarter of fiscal 2024.
Despite the quarterly decline, first half fiscal year 2025 total sales increased by 10% to $10.2 million compared to $9.2 million in the first half of fiscal 2024. Net income for the first half rose 13% to $672 thousand, or $0.04 per share, compared to $595 thousand, or $0.04 per share, in the prior year period. The company's backlog stood at $10.671 million as of August 31, 2024, compared to $9.280 million at the end of the second quarter of fiscal 2024.
Sales to the Alternative/Clean Energy market grew 37%, and Electronics market sales increased 51%, driven by the shipment of two newly developed coating systems with wafer shuttling capabilities for the semiconductor market. Medical sales, however, were down 77%, and Industrial sales declined by 30%. The company maintained a strong balance sheet with $11.6 million in cash, cash equivalents, and marketable securities, and no debt as of August 31, 2024.
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