CVD Equipment Q3 revenue $8.1M (+88%), operating income positive; $28.5M sale-leaseback terminated

CVD EQUIPMENT CORP

2022-Q3 EPS reported -$0.26 revenue$18,579,000

Q3 revenue $8.1M (+88% YoY); operating income $122,275 vs. operating loss in prior quarters.
Net income $63,538 ($0.01 EPS) vs. $6.0M in Q3 2021 (included $6.9M gain on building sale).
Terminated $28.5M sale-leaseback of headquarters after buyer failed to close by Nov 11; no termination fee.
Received $3.7M order from major aircraft engine company for ceramic matrix composite material equipment.
Nine-month 2022 revenue $18.6M; backlog $15.7M; cash $11.9M; supply chain headwinds continue.

item 1.02 item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CVD EQUIPMENT CORP reported the third quarter ended September 30, 2022 results: revenue $8.1 million, net income $63,538, EPS $0.01.

Period: the third quarter ended September 30, 2022
Revenue: $8.1 million
Net income: $63,538
EPS: $0.01
Result: reported results

Exact text from the filing

Revenue for the third quarter of 2022 was $8.1 million as compared to $4.3 million for the third quarter of 2021, an increase of $3.8 million or 88.4%. Net income for the third quarter of 2022 was $63,538, or $0.01 per basic and diluted share, as compared to a net income of $6.0 million (which includes a $6.9 million gain on sale of building), or $0.89 per basic and diluted share for the third quarter of 2021.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CVD EQUIPMENT CORP reported the nine months ended September 30, 2022 results: revenue $18.6 million, net income $1.8 million, EPS $0.26.

Period: the nine months ended September 30, 2022
Revenue: $18.6 million
Net income: $1.8 million
EPS: $0.26
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2022, revenue was $18.6 million as compared to $11.7 million for the same period in 2021, an increase of $6.9 million or 58.4%. Net loss for the nine months ended September 30, 2022 was $1.8 million, or $0.26 per basic and diluted share, as compared to net income of $5.9 million (which includes total non-operating gains of $9.3 million consisting of a $6.9 million gain on sale of building and a $2.4 million gain on debt extinguishment from the forgiveness of the Company’s PPP loan), or $0.89 per basic and diluted share for the same period in 2021.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

CVD EQUIPMENT CORP terminated Agreement of Purchase and Sale dated September 21, 2022, as amended with 355 Technology Drive Owner LLC valued at $28,500,000 (effective 2022-11-11).

Action: termination
Agreement: asset purchase
Counterparty: 355 Technology Drive Owner LLC
Value: $28,500,000
Effective: 2022-11-11

Exact text from the filing

On November 11, 2022, the Potential Purchaser notified the Company that it was terminating the Purchase Agreement in its entirety and the transactions contemplated thereby, prior to the expiration of the Due Diligence Period.

View on SEC.gov

Browse all earnings releases →

CVD EQUIPMENT CORP filing history →

Source: SEC EDGAR

accession 0001437749-22-027258

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.