CVD Equipment Corp. - CVV STOCK NEWS

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.

CVD Equipment Corporation (NASDAQ: CVV) announced a significant order for a CVD/ALD system from Georgia Institute of Technology, intended for high-performance nanomaterial coating in EV battery applications. The system, designed for R&D and scalable pilot production, combines chemical vapor deposition (CVD) and atomic layer deposition (ALD) processes. This strategic order aligns with CVD's objective to enhance its presence in the lithium-ion battery market, supporting cost-effective manufacturing of EV materials, which is pivotal as the industry transitions from research to production.

CVD Equipment Corporation (NASDAQ: CVV) will release its 2021 fourth quarter and year-end results on March 31, 2022, after market close. A conference call is scheduled for 5:30 pm ET that day to discuss the results. Interested participants can join the live call by dialing toll-free at (877) 407-2991 or internationally at (201) 389-0925. A replay will be available for seven days. The archived webcast can be accessed on CVD's website approximately two hours post-event.

CVD Equipment Corporation (NASDAQ: CVV) reported a significant increase in product demand for 2021, with orders surpassing $5 million in Q4 and $21 million overall, marking a 75% increase from 2020. Notably, CVD equipment orders doubled, with 23 systems sold. Demand for nanotechnology materials and Silicon Carbide wafers drove growth, alongside anticipation of recovery in the aerospace sector. The company remains optimistic about continued order growth into 2022, supported by diverse end-use market opportunities.

CVD Equipment Corporation (NASDAQ: CVV) reported third quarter 2021 revenue of $4.3 million, up 8.4% from $4.0 million in Q3 2020. The company achieved a net income of $6.0 million or $0.89 per diluted share, contrasting with a net loss of $1.3 million in the same period last year. CVD's backlog improved to $9.9 million as of September 30, 2021. However, revenue for the first nine months decreased by 14.7% year-over-year to $11.7 million. Increased material costs and supply chain delays may further impact future operations.