MILTON, N.Y., Jan. 17, 2017 /PRNewswire/ -- Sono-Tek Corporation (OTC QX: SOTK) today announced sales of $2,599,000 for the three months ended November 30, 2016, compared to sales of $3,032,000 for the prior year period, a decrease of $433,000 or 14%. Although not directly reported, a comparison of the three months ended November 30, 2016 to the three months ended August 31, 2016 showed an increase in sales of $289,000 or 13%, continuing an upward trend for this Fiscal Year. The current quarter's sales increase is attributable to the sale of a float glass coating line to a customer in Asia. Based on the Company's backlog, recent shipments, and proposals, the Company is expecting another increase in sales for the fourth quarter of this Fiscal Year in comparison to earlier quarters this year. As mentioned in previous quarterly reports and releases this year, lower sales compared to a year ago have been due to global economic factors, including the strong US dollar, coupled with lower activity in the glass, medical, and electronics markets this year.
The Company reported net income of $62,000 for the three months ended November 30, 2016 compared to $244,000 for the prior year period, a decrease of $182,000. The Company reported net income of $28,000 for the nine months ended November 30, 2016 compared to $541,000 for the prior year period, a decrease of $513,000. The Company expects to report continuing profitability in the fourth quarter, based on its current backlog and shipments to date.