CVD Equipment Q4 revenue $7.2M, net income $1.5M on $1.5M ERC credit; FY revenue up 57%

CVD EQUIPMENT CORP

2023-Q1 EPS reported -$0.01 revenue$8,695,000

Q4 revenue $7.2M; operating loss $221K; net income $1.5M ($0.23 EPS); includes $1.5M Employee Retention Credit.
FY2022 revenue $25.8M (+57% YoY); net loss $224K vs net income $4.7M in FY2021 (which included $6.9M building sale gain).
Bookings $33.1M for FY2022; backlog $17.8M at Dec 31; cash $14.4M.
CEO highlights demand for SiC wafer PVT150 systems (30 units ordered from one US customer), battery materials, and aerospace CVI systems.

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 fourth quarter and fiscal year ended December 31, 2022 results: revenue $7.2 million, net income $1.5 million, EPS $0.23.

Period: fourth quarter and fiscal year ended December 31, 2022
Revenue: $7.2 million
Net income: $1.5 million
EPS: $0.23
Result: reported results

Exact text from the filing

(NASDAQ: CVV), today announced its financial results for the fourth quarter and fiscal year ended December 31, 2022. Fourth Quarter 2022 Financial Results ■ Revenue of $7.2 million ■ Operating loss of $221,000 ■ Net income of $1.5 million, including the recognition of an Employee Retention Credit of $1.5 million ■ Net income per basic and diluted share of

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Source: SEC EDGAR

accession 0001437749-23-009836

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