This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CVD Announces Record Q1 Results

(NASDAQ: CVVNews) CVD Equipment Corporation, a leading provider of custom chemical vapor deposition systems, today announced revenue for the quarter ended March 31, 2012 was $7,155,000, a 15.3% increase over the revenue of $6,206,000 earned for the quarter ended March 31, 2011, and its highest revenue and net income for a quarter ending March 31 in the Company’s history.

Income from operations for the three months ended March 31, 2012 was $1,073,000 as compared to income from operations of $877,000 for the three months ended March 31, 2011, a 22% increase. Net income of $728,000 for the quarter ended March 31, 2012 resulted in a 6% increase over the net income of $687,000 for the quarter ended March 31, 2011, resulting in earnings of $0.12 per share, basic and diluted, for the current three months compared to earnings of $0.14 per share, basic and diluted, for the quarter ended March 31, 2011.

Backlog, at March 31, 2012, was $12,506,000, decreased 23% compared to the backlog of $16,198,000 at December 31, 2011.

The timing for completion of CVD’s backlog varies depending on the product mix and can be as long as two years. Order backlog usually is a reasonable management tool to indicate future revenues and profits, however it does not provide an assurance of future achievement of revenues or profits as order cancellations or delays are possible. Backlog from quarter to quarter can vary based on the timing of order placements and shipments.

Leonard Rosenbaum, President and Chief Executive Officer stated, “Due to (i) production constraints because of space limitations in our current facility, (ii) manpower to bring the new facility on-line and (iii) the expected move in the middle of this year, we have redirected some of our sales efforts away from immediate short term order growth and instead focused on longer term growth opportunities for new product platforms and material applications. Quotation levels remain high and we are confident that, once we move into our new facility, we will be able to continue our growth trend for both short and long term objectives.”

CVD Equipment Corporation

Comparative Operating Results for the Three Months ended March 31,


Revenue $7,155,000 $6,206,000
Cost of revenue $ 4,420,000 $ 3,921,000
Gross profit $2,735,000 $2,284,000
Operating expenses $1,662,000 $1,407,000
Net income $1,073,000 $687,000
Net income per common share
basic and diluted $0.12 $0.14
Weighted average shares of
common stock outstanding
Basic 5,976,582 4,821,125
Diluted 6,151,621 5,041,775

About CVD Equipment Corporation

CVD Equipment Corporation (NASDAQ: CVV) is a designer and manufacturer of custom and standard state-of-the-art equipment used in the development, design and manufacture of advanced electronic components, materials and coatings for research and industrial applications. CVD offers a broad range of chemical vapor deposition, gas control, and other equipment that is used by customers to research, design and manufacture semiconductors, solar cells, graphene, carbon nanotubes, nanowires, LEDs, MEMS, smart glass coatings, batteries, ultra capacitors, medical coatings, industrial coatings and equipment for surface mounting of printed circuit components.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release by CVD, as well as information included in oral or other written statements made or to be made by CVD, contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, industry specific and general business conditions, competitive market conditions, success of CVD's growth and sales strategies, possible customer changes in delivery schedules, cancellation of orders, delays in product shipments, delays in obtaining parts from suppliers, failure to satisfy customer acceptance requirements and other risk factors described in CVD’s SEC filings. All forward-looking statements are based on management's estimates, projections and assumptions as of the date hereof and CVD assumes no obligation to update this press release.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.69 -1.20%
FB $117.54 0.69%
GOOG $693.97 0.43%
TSLA $240.87 -2.80%
YHOO $36.66 0.19%


Chart of I:DJI
DOW 17,778.54 -52.22 -0.29%
S&P 500 2,063.56 -12.25 -0.59%
NASDAQ 4,771.9090 -33.3820 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs