CVD Equipment Q4 revenue down 43% YoY to $4.1M; net loss $2.3M vs prior-year income

CVD EQUIPMENT CORP

Q4 revenue $4.1M, down 43.2% YoY; gross margin negative 8.5% due to cost overruns on a large contract.
Q4 net loss $2.3M ($0.33 per share) vs net income $1.5M ($0.23) in prior-year Q4, which included $1.5M ERC benefit.
FY2023 revenue $24.1M, down 6.6%; net loss $4.2M ($0.62 per share) vs net loss $0.2M ($0.03) prior year.
Q4 orders $5.8M; secured $2.1M aerospace order and $1.0M SDC gas-delivery order; backlog $18.4M.
Post-period: $10M multisystem order for SiC CVD coating reactor from industrial customer; second PVT200 evaluation customer.

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 financial results for fourth quarter and fiscal year ended December 31, 2023.

Period: fourth quarter and fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 28, 2024, the Company issued a press release announcing its results of operations for the fourth quarter and fiscal year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001493152-24-011738

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