CVD Equipment Corporation News Release
/FROM PR NEWSWIRE NEW YORK 800-776-8090/
TO BUSINESS AND TECHNOLOGY EDITORS:
CVD Equipment Corporation News Release
RONKONKOMA, N.Y., May 11 /PRNewswire/ -- CVD Equipment Corporation
(OTC Bulletin Board: CVDE) releases first quarter 2001 results comparing 1st
Quarter 2001 to 1st Quarter 2000:
-- Revenues Increased to $3,474,816 from $1,775,430
-- Earnings Increased to $.12 from $.02
-- Backlog Increased to $4,629,565 from $1,791,097
Revenues -- for the 1st quarter 2001 were $3,474,816, a 96% increase from
1st quarter 2000 revenues of $1,775,430.
Earnings -- for the 1st quarter 2001 were $.12 per share (diluted), a
500% increase from 1st quarter 2000 earnings of $.02 per share (diluted).
Backlog -- at 1st quarter end 2001 was $4,629,565, a 158% increase from
1st quarter end 2000 backlog levels of $1,791,097.
Marketing -- Our marketing efforts continue to be productive and our
quotation activity remains strong. CVD continues to work at expanding its
product offerings as well as exploring new market segment opportunities.
In 2000, the semiconductor industry grew at an unprecedented rate. New
end products and a drive to manufacture smaller chips on larger wafers,
reducing manufacturing costs fueled growth. The semiconductor industry
however is historically cyclic in nature and has now slowed. CVD believes
that it has structured itself with our three divisions to partially compensate
for this cyclic nature and smooth out the ups and downs. The CVD division
deals with large capital equipment, which sometimes suffers in a down cycle.
However, the CVD division also sells to research facilities and universities
that are not normally influenced in a significant way during a slow market.
The SDC division supplies Gas and Chemical Delivery Systems, which can be
impacted during a down market. However, the field service group within that
division, usually adds significant field service work in a down market. And
finally, the ECS division is usually impacted in a positive fashion in a down
market, as customers look to refurbished equipment as an alternate way to
enhance their productivity.
Capital Resources -- Our cash position continues to remain strong
providing CVD the ability to explore future expansion, growth opportunities
and provide the necessary resources for capital equipment procurement to
enhance our manufacturing ability.
This public announcement may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from historical results or anticipated
results. Investors and potential investors should review carefully the
description of the risks and uncertainties which, together with other detailed
information about CVD Equipment Corporation, is contained in the periodic
reports that CVD files from time to time with Securities and Exchange
Commission. The risks and uncertainties include, but are not limited to: the
ability to successfully integrate acquired assets into CVD Equipment
Corporation; CVD's dependence upon the ability to attract and retain qualified
personnel; competition and technological changes; the company's dependence
upon proprietary technology and the potential need for additional financing.
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SOURCE CVD Equipment Corporation
/CONTACT: Karen Hamberg of CVD Equipment Corporation, 631-981-7081, orfax,
631-981-7095, or info@cvdequipment.com/
/Web site: cvdequipment.com
May-11-2001 15:17 GMT
Symbols:
US;CVDE
Source PRN PR NewsWire
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