CVV...here is third qtr report....the combination of a company having leading edge and now proven nanotechnology re carbon tubes PLUS semiconductor business that brings in solid and now growing revenues and net inc is a powerful draw i think to bring investors into this play. And it is my best guess that further news from the company either on their numbers OR their nanotechnology side will launch this stock into new record territory price wise...no top....
B: CVD Equipment Corporation Announces Third Quarter Results ( PR Newswire )
RONKONKOMA, N.Y., Nov 14, 2006 /PRNewswire-FirstCall via COMTEX/ --
CVD Equipment
Corporation (Amex: CVV), a global designer, manufacturer and supplier of
equipment for use in manufacturing semiconductors, solar cells, carbon
nanotubes, nanowires and equipment for surface mounting of components onto
printed circuit boards, today announced that it has achieved profitable
results for the eighth consecutive quarter.
Revenue for the three and nine months ending September 30, 2006 was
$3,636,000 and $9,958,000 respectively compared to $2,851,000 and $8,258,000
for the three and nine months ending September 30, 2005 representing an
increase of 27.5% and 20.6% for the respective periods. This increase in
revenue can be attributed to the increased demand for custom CVD systems along
with the demand for our First Nano equipment product line.B/b> The gross profit
increased by 51.0% and 21.6% to $1,417,000 and $3,553,000, in the current
three and nine month period respectively, compared to $937,000 and $2,923,000,
for the same three and nine month periods one year ago. Gross margin
percentage increased during the three and nine months ending September 30,
2006 to 39.0% and 35.7% respectively, compared to 32.9% and 35.4% for the same
respective periods one year earlier. The Company was able to increase its
gross margin notwithstanding increased labor costs as a result of the
increased personnel added to develop and expand sales of the First Nano
equipment line as well as incurring rising employee benefit and energy costs.
Earnings for the current three and nine month periods, before stock option
costs and taxes were approximately $449,000 and $786,000 compared to $24,000
and $396,000 for the same periods one year ago. As required by SFAS 123-R,
stock option costs of $43,000 and $129,000 respectively, were expensed in the
current periods, while no stock option costs were expensed during the same
respective periods in 2005. Income before taxes for the three and nine months
ended September 30, 2006 was $406,000 and $658,000 compared to $24,000 and
$396,000 for the three and nine months ended September 2005. As a result of
utilizing in full, its prior years' net operating losses, net income for the
three months ended September 30, 2006 was $229,000 or $.07 per share basic and
diluted compared to $35,000 or $.01 per share basic and diluted for the three
months ended September 30, 2005. Net income for the nine months ended
September 30, 2006 was $365,000 or $.12 per share basic and $.11 per share
diluted, compared to $329,000 or $.11 per share basic and $.10 per share
diluted for the nine months ended September 30, 2005.
At September 30, 2006 our order backlog, comprised of customer orders that
are expected to ship within the next six months, increased by 18.7% to
approximately $3,143,000 from $2,648,000 at December 31, 2005. Our backlog at
any specific point in time is not necessarily indicative of actual revenues or
earnings for any succeeding period due to possible customer changes in
delivery schedules or cancellation of orders, and because backlog does not
provide any assurance of a profit from these orders.
Leonard Rosenbaum, President and Chief Executive Officer stated, "I am
pleased with the results we have generated so far this year and based on our
backlog, quotation activity, discussions with customers and results being
achieved on carbon nanotubes in our First Nano laboratory, I anticipate a
continuation of our current positive performance. Our First Nano systems are
being well received by the scientific community and we will be broadening the
product offering as we go forward. Many of our systems being shipped are
repeat customer orders showing that our past performance has been meeting our
customer needs. Our design and manufacturing personnel have done a great job." |
