CVD Equipment Q2 revenue $5.1M (-12.7% YoY); net loss $1.1M; orders $12.9M

CVD EQUIPMENT CORP

2023-Q2 EPS reported -$0.17 revenue$13,764,000

Q2 2023 revenue $5.1M, down 12.7% YoY; net loss $1.1M ($0.16/sh) vs loss $0.8M ($0.12) prior year.
Orders jumped to $12.9M; backlog $18.8M, up from $12.0M at March 31, 2023.
Gross margin improved to 27.4%; non-recurring charges of $0.3M from Tantaline sale and MesoScribe wind-down.
Received $8.7M in aerospace system orders and $1.8M battery nanomaterial system order.
Cash $13.0M; sold Tantaline in May, entered agreement to sell MesoScribe assets for up to $0.9M.

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 second quarter ended June 30, 2023 results: revenue $5.1 million, net income $1.1 million, EPS $0.16 basic and diluted share.

Period: second quarter ended June 30, 2023
Revenue: $5.1 million
Net income: $1.1 million
EPS: $0.16 basic and diluted share
Result: reported results

Exact text from the filing

course on our strategy to achieve consistent long-term profitability, with a focus on growth and return on investment.” Second Quarter 2023 Financial Performance ● Revenue of $5.1 million, down 12.7% year over year primarily due to lower system revenues ● Orders for the second quarter increased to $12.9 million driven by demand in two of our three strategic

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Source: SEC EDGAR

accession 0001437749-23-023651

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