CVD Equipment Q3 revenue down 23% to $6.2M; net loss $0.8M vs prior-year profit

CVD EQUIPMENT CORP

2023-Q3 EPS reported -$0.28 revenue$19,998,000

Revenue $6.2M, down 23.2% YoY; net loss $0.8M ($0.11 per share) vs net income $63k ($0.01) last year.
Operating loss $1.0M; gross margin 25.6% vs 29.8% due to lower revenue and mix.
Orders $4.1M, backlog $16.6M (down from $18.8M at June 30, 2023).
Contract modification changed revenue recognition from point-in-time to over time, adding $0.8M to Q3 revenue.
MesoScribe asset sale of $0.9M expected to close within three months; board added two directors.

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 0.95

CVD EQUIPMENT CORP reported for the third quarter ended September 30, 2023 results: revenue Revenue of $6.2 million, net income Net loss of $0.8 million, EPS $0.11 basic and diluted share.

Period: for the third quarter ended September 30, 2023
Revenue: Revenue of $6.2 million
Net income: Net loss of $0.8 million
EPS: $0.11 basic and diluted share
Result: reported results

Exact text from the filing

to our ability to receive additional system orders and continue our efforts to reduce our overall operating costs.” Third Quarter 2023 Financial Performance ● Revenue of $6.2 million, down 23.2% as compared to the third quarter of 2022, primarily due to lower system revenues. ● Orders for the third quarter were $4.1 million driven by continued demand in the

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Source: SEC EDGAR

accession 0001493152-23-041030

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