CVD Equipment Corporation Announces $5.9 Million of New Orders for 3rd Quarter 2008
CVD Equipment Corporation (NASDAQ: CVV) announced a new order quarterly booking record for the three month period ending September 30, 2008 of $5.9 million. This represents an increase of 16% over the same period in 2007 and a 20% increase over our last quarter.
We attribute the increase in order levels to the increase in selling effort in our four primary market segments: (i) semiconductors and electronics; (ii) university, government and industry research; (iii) industrial applications and (iv) solar/energy. The proceeds received during the 4th quarter of 2007, as a result of the sale of our common stock, has allowed us to hire additional personnel, and enabled our key personnel to focus their efforts on selling into targeted market segments and to further develop proprietary and patent pending solutions for these growth markets.
The large demand for energy savings, energy generation materials and products needed to address rising energy costs creates a growing demand for cost effective manufacturing solutions. The applications we are addressing in this targeted market have significant growth opportunities for manufacturing technologies that deliver favorable cost/ benefits. Using our application laboratory we will expand the areas where our manufacturing solutions can be applied and further optimize our proprietary technologies for cost and performance.
Based on our current broad quotation activity we anticipate order levels will continue in future quarters above our past historical average. As our proprietary solutions are qualified by our customers for their pilot and/or production processes we expect to receive additional orders.
About CVD Equipment Corporation:
CVD Equipment Corporation owns and operates three divisions: Together the CVD and First Nano product group form the CVD/First Nano Division. The CVD product group designs and builds pilot and production equipment for custom Chemical Vapor Deposition processes for a very wide variety of applications. The First Nano product group manufactures the EasyTube equipment product line used by researchers around the world to develop and grow a wide variety of next generation Nanowire, Nanotube and Thin Film Materials. The CVD/First Nano Division also operates an Application Laboratory where it develops advanced processes and solutions to facilitate the commercialization of emerging technology in the nano/solar and green field and develops/optimizes custom material manufacturing processes. The Stainless Design Concepts Division manufactures Ultra High Purity (UHP) gas and chemical delivery systems for state-of-the-art semiconductor fabrication processes. It offers complete gas and chemical delivery product lines ranging from cutting-edge to basic gas and chemical handling. The Conceptronic/Research International Division supplies reflow ovens and rework stations to the Printed Circuit Board assembly market and ball attach ovens to the back-end semi-conductor packaging industry. It also develops custom industrial inline oven based systems that process materials with controlled gas atmospheres and temperature profiles.
This press release contains forward-looking statements set within the meaning of the Private Securities Litigation Reform Act of 1995, except for historical information contained herein; the matters set forth in this news release are forward-looking statements. Readers should note that the forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including, without limitation, the uncertainties discussed under the caption “Risk Factors” in the Company’s Registration Statement on Form S-1 filed with the SEC on July 3, 2007, as subsequently amended, which discussion is incorporated herein by reference. Readers should also read the periodic filings and current Form 8-K reports of the Company.