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CVD Equipment Corporation Completes Sale of Former Corporate Headquarters

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By Business Wirevia The Motley Fool

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CVD Equipment Corporation Completes Sale of Former Corporate Headquarters

CENTRAL ISLIP, N.Y.–(BUSINESS WIRE)– CVD Equipment Corporation (Nasdaq:CVV) announced today that on April 5, 2013 it completed the sale of the Company’s 50,000 square foot facility located at 1860 Smithtown Avenue, Ronkonkoma, New York where its former corporate headquarters had been located. The sale price of the premises was $3,875,000, representing an estimated profit of approximately $900,000 to CVD.

Leonard Rosenbaum, President and Chief Executive Officer stated, “The sale closes a chapter of our Company’s history and highlights a new chapter as our attention and efforts are focused towards increased sales and operations in our new 130,000 square foot facility where we will be expanding our i) Equipment manufacturing and Nano material manufacturing capabilities, ii) Pilot production process development and demonstration for the transformation of nano materials to macro sized materials and iii) Joint business/technology developments for products enabled by nano materials to be marketed through our wholly owned subsidiary, CVD Materials Corporation.”


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, battery and/or ultra capacitor materials, medical coatings, industrial coatings and equipment for surface mounting of components onto printed circuit boards.

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 …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

CVD Equipment Corporation Reports Fiscal 2012 Results

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By Business Wirevia The Motley Fool

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CVD Equipment Corporation Reports Fiscal 2012 Results

RONKONKOMA, N.Y.–(BUSINESS WIRE)– CVD Equipment Corporation (NASDAQ: CVV) announced revenue and earnings for the year ending December 31, 2012.

On revenue of approximately $22,158,000 for the year ended December 31, 2012 the Company recorded net earnings of approximately $436,000 or $0.07 per basic and diluted share.

Early in 2011, having realized that the current facilities were inadequate to meet anticipated future production requirements, management set upon a plan of expansion. In May 2011 through the issuance of shares of common stock approximately $9,388,000 was raised. In March 2012, the Company closed on the purchase of a 120,000 square foot facility to which we subsequently added another 10,000 square feet to replace the 63,275 square feet that was then occupied in two buildings. Over the course of the remaining nine months of 2012, significant time and effort was spent renovating the facility to meet future goals and objectives. This time was also utilized to increase and train additional sales, engineering and production staff in order to maximize productivity once the move is complete. During this period CVD also increased its research from $955,000 in 2011 to $1,330,000 in 2012.

Additionally, order acceptance levels were purposely reduced to approximately $8,342,000 in order to maintain a more manageable backlog level during the transition into the new facility. 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.

Net earnings of $436,000 were also negatively impacted by the sale of 979 Marconi Ave, Ronkonkoma, NY, the building which had housed CVD‘s Application Laboratory resulting in a capital loss of $694,000 and a reduction of $0.12 per share on our earnings. Our building located at 1860 Smithtown Ave., Ronkonkoma, NY is currently in contract, expected to generate a capital gain and is scheduled to close imminently.

The Company continues to maintain a strong cash position and a healthy working capital ratio despite the cash outlays for the new facility and the inherent inefficiencies of moving into new quarters.

Leonard Rosenbaum, President and Chief Executive Officer stated: “In 2011 we had major growth in equipment order levels and revenues. This growth stretched our Ronkonkoma manufacturing facility to its limit and restricted our ability to hire additional personnel to further increase our manufacturing capability. We …read more
Source: FULL ARTICLE at DailyFinance