Cvd Equipment Stock Price, News & Analysis

CVD Equipment Corporation (NASDAQ: CVV) has appointed Richard Catalano as Chief Financial Officer, effective August 30, 2022. With over 35 years of experience in accounting and finance, Catalano previously served at KPMG LLP, where he led the Metro New York Healthcare and Life Sciences Practice. His extensive background in public company financial advisory positions him as a key asset for CVD Equipment as it continues to develop innovative equipment and solutions for various industries.

CVD Equipment Corporation (NASDAQ: CVV) reported a 44% revenue increase in Q2 2022, totaling $5.8 million, compared to $4.0 million in Q2 2021. Despite this growth, the company faced a net loss of $0.8 million ($0.12 per share), reversing a net income of $1.5 million in the same quarter last year. For the first half of 2022, revenue climbed 41.4% to $10.5 million, but the net loss deepened to $1.8 million. The company noted supply chain challenges and rising costs affecting future profit margins, although backlog increased 60.5% to $16.7 million as of June 30, 2022.

CVD Equipment Corporation (NASDAQ: CVV) will release its second quarter 2022 results after market close on August 15, 2022. The management will discuss these results during a conference call at 5:00 PM ET. Interested participants can join the live call via dial-in or access a replay for up to seven days. A webcast of the call will also be available on the company's website shortly after the live event, providing an opportunity for stakeholders to stay informed on the company's performance.

CVD Equipment Corporation (NASDAQ: CVV) reported a significant increase in order demand, with second-quarter orders surpassing $12.6 million, compared to $6 million in Q2 2021. The first half of 2022 saw orders of $16.7 million—a 73.2% increase year over year. The surge in orders is driven by the demand for the PVT-150 system for Silicon Carbide wafers, essential for EV charging and power transmission. CVD plans to ship 20 systems in the latter half of 2022 and into 2023, reflecting a strategic focus on electric vehicle applications.

CVD Equipment Corporation (NASDAQ: CVV) reported a revenue increase of 38.3%, reaching $4.7 million in Q1 2022, up from $3.4 million in Q1 2021. The net loss improved to $1.0 million, or $0.15 per diluted share, compared to a $1.5 million loss, $0.23 per share, in the prior year. Operating loss also decreased to $1.0 million from $1.6 million year-over-year. However, the company's backlog fell by 4.8% to $9.9 million, indicating potential challenges in order receipt timing. Despite increased costs in manufacturing materials and ongoing supply chain issues, CVD remains focused on growth strategies in electrification markets.

CVD Equipment Corporation (NASDAQ: CVV) will announce its 2022 first-quarter results on May 16, 2022, after market close. The management will host a conference call at 5:00 PM ET to discuss these results. Participants can join the call by dialing (877) 407-2991 or (201) 389-0925 from international lines. A replay will be available for seven days. Additionally, the call will be streamed live and archived on the company's website, enabling stakeholders to stay informed about the company's performance.

CVD Equipment Corporation (CVV) announced an order for nine Physical Vapor Transport (PVT) systems to grow Silicon Carbide (SiC) material for high power electronics applications. These systems will be shipped in the second half of 2022, augmenting a previous order for six PVT tools announced in Q4 2021. SiC technology is increasingly demanded in the electric vehicle sector and renewable energy markets due to its efficiency and performance advantages. CEO Emmanuel Lakios emphasized the company's commitment to leading in SiC production systems.

CVD Equipment Corporation (NASDAQ: CVV) reported a 48.8% increase in fourth quarter 2021 revenue to $4.7 million from $3.2 million in 2020. The company achieved net income of $4.7 million, contrasting with a net loss of $6.1 million in the prior year. Despite a 2.8% annual revenue decline to $16.5 million, operating losses improved significantly, decreasing from $7.8 million to $4.8 million. The backlog rose 82% to $10.4 million, showcasing demand growth.

CVD Equipment Corporation (NASDAQ: CVV) has secured an order for a Plasma Enhanced Chemical Vapor Deposition (PECVD) system worth approximately $1M. This PECVD200 system, intended for producing 200 mm semiconductor devices to support 5G Wireless technology, will be delivered by year-end. Features include multi-zone heating for uniform deposition and SECS/GEM compliance for precise monitoring. The order aligns with CVD's strategic growth in carbon materials, enhancing its production capabilities.