CVD Receives Multi-Million Dollar Coating System Order
CENTRAL ISLIP, N.Y., (Business Wire) – February 4, 2014 - CVD Equipment Corporation (NASDAQ: CVV) announced today that it received a multi-million dollar order from a major aviation component supplier.
Leonard A. Rosenbaum, President and Chief Executive Officer stated, “We have been working with this customer since 2010 in developing their next generation of equipment to manufacture their composite products. We are pleased to have now been awarded this order for a multi-chamber CVD coating system and look forward to also meeting their future production needs.
“On November 15, 2013 in a press release I had forecast orders for Q4 - October 1, 2013 thru December 31, 2013 to exceed Twelve Million Dollars ($12M). My timing as to exactly when these expected orders would be placed however was slightly off. With this order and other orders for the period from October 1, 2013 thru January 31, 2014 we have now received orders exceeding Twenty-One Million Dollars ($21M).
“Going forward, the Company is well positioned in a number of major areas that should prove beneficial for long term growth: 1) Sales of research systems to universities, research laboratories and start-up companies; 2) Sales of Chemical Vapor Deposition systems to industrial customers for current limited production needs; 3) Sales of advanced industrial manufacturing systems for large scale production; 4) Our wholly owned subsidiary, CVD Materials Corporation for industrial material coating services; and 5) Our Application Laboratory, to develop processes for next generation equipment.
“With the increased capacity of our new facility, CVD is positioned to accommodate the opportunities presented to us as we continue to experience an increase in demand for our products and services - a trend that we anticipate will continue for many years to come.”
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, batteries, ultra capacitors, medical coatings, industrial coatings and equipment for surface mounting of printed circuit components. CVD’s application laboratory focuses on higher efficiency nano and nano to macro material manufacturing for a wide variety of growth markets, which are marketed through our wholly owned subsidiary CVD Materials Corporation.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by CVD Equipment Corporation) contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as “forward-looking statements, “as such term is defined in Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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, conditions, success of CVD Equipment Corporation’s growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements.