CVD Equipment 1st Half Orders Reach All-Time High of $24.6M
RONKONKOMA, N.Y., (Business Wire) – July 12, 2011 - CVD Equipment Corporation (NASDAQ: CVV) announced record orders of approximately $24.6M for the six (6) months ended June 30, 2011, an increase of 165% compared to $9.3M for the 6 months ended June 30, 2010. Orders continue to be booked at high levels, as the Company received approximately $8.4M of new orders for the three (3) months ended June 30, 2011, also a record high for a quarter ended June 30. Orders for the twelve (12) months ended June 30, 2011 were $40.4M, an increase of 193% compared to $13.8M for the 12 months ended June 30, 2010. The orders received in the 6 and 12 month periods surpass those of all previous 6 and 12 month periods respectively.
Orders received by the CVD/FN division for the 6 months ended June 30, 2011 were $22.0M, an increase of 195% compared to $7.4M for the 6 months ended June 30, 2010. The CVD/FN division continues to benefit from the worldwide increase in demand for production and research Chemical Vapor Deposition (CVD) equipment for higher performance in the fields of Solar, Aerospace, Energy, LEDs, as well as for R&D for next generation technology in many applications.
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 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, graphene, 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.
For further information please contact our Investor Relations by Phone: (631) 981-7081, Fax: (631) 981-7095 or Email: Email: Khamberg@CVDequipment.com or Sales@CVDequipment.com or investorrelations@CVDequipment.com