secwatch.observer — SEC 8-K summary
======================================

Issuer:     CVD EQUIPMENT CORP (CVV)
CIK:        0000766792
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001493152-24-018875
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CVD Equipment Q1 revenue falls 43% to $4.9M; net loss $1.5M
-----------------------------------------------------------

- Revenue $4.9M, down 43.4% YoY; operating loss $1.6M; net loss $1.5M ($0.22/sh) vs net loss $0.04M prior year.
- Gross profit margin 17.5%, impacted by lower margins on some contracts at CVD Equipment segment.
- Orders in Q1 totaled $13.5M, driven by aerospace and SDC gas delivery; backlog rose to $27.1M from $18.4M.
- Key orders: PVT200 system for SiC crystal growth from new customer; ~$10M multi-system order for SiC coating reactors.
- Implemented workforce reduction in Jan 2024 to cut costs; cash and equivalents $11.9M as of Mar 31, down from $14.0M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/766792/000149315224018875/0001493152-24-018875-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/766792/000149315224018875/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-018875

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer