CVD Equipment 2010 3rd Quarter Orders Increase 234%
RONKONKOMA, N.Y., (Business Wire) – September 30, 2010 - CVD Equipment Corporation (Nasdaq: CVV) announced that it received approximately $7.7 million in new orders during the three (3) months ending September 30, 2010 and approximately $17 million in new orders for the nine (9) months ending September 30, 2010. This surpasses the $2.3 and $7.8 million of new orders received during the three (3) and nine (9) months ending September 30, 2009 by 234% and 119% respectively. The orders received during this period also exceeded all January through September periods in the history of CVD.
Orders received by the CVD/FN division for the three (3) months ending September 30, 2010 increased by 374% and for the nine (9) months ending September 30, 2010 increased by 146% when compared to 2009 order levels. The CVD/FN division benefited from the increased interest in energy generation, energy savings, nanotechnology, semiconductor and MEMS fields as well as the increase in the availability of funds to purchase capital equipment. We anticipate this trend will continue to increase in future quarters.
The large demand for energy savings, energy generation materials and products needed to address rising energy and environmental costs creates a growing demand for manufacturing solutions using nanotechnology and thin film coatings on glass, wafers and other substrates. Using our Application Laboratory, we continue to perfect and expand the multiple areas where our process solutions can be applied. The solar, energy and nanotechnology markets offers us significant growth opportunities for technologies that deliver favorable cost benefits. These fields will benefit further from a renewed drive for energy savings and ecologically safe energy generation.
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ: CVV) is a designer and manufacturer of standard and custom 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, carbon nanotubes, nanowires, LEDs, MEMS, 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 Equipment Corporation (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.