CVD(CVV)

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CVD(CVV) - 2022 Q3 - Quarterly Report
2022-11-13 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ____ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Name of Registrant in Its Charter) New York 11-2621692 State or Other Jurisdiction ...
CVD(CVV) - 2022 Q2 - Earnings Call Transcript
2022-08-16 02:16
Financial Data and Key Metrics Changes - CVD Equipment's revenue for Q2 2022 was $5.8 million, an increase of 44% compared to $4 million in Q2 2021 [11] - The net loss for Q2 2022 was $0.8 million or $0.12 per diluted share, compared to a net income of $1.5 million or $0.22 per diluted share in Q2 2021, which included a $2.4 million gain on debt extinguishment [11][12] - For the first half of 2022, revenue was $10.5 million, a 41.4% increase from $7.4 million in the same period in 2021 [13] - The backlog at June 30, 2022, was $16.7 million, up 60.5% from $10.4 million at December 31, 2021 [16] Business Line Data and Key Metrics Changes - Q2 2022 orders were $12.6 million, compared to $5.8 million in Q1 of the prior year, marking a 72% year-on-year increase in orders [7] - The orders primarily consisted of 21 FirstNano CVD systems, with 14 for the PVT-150 system, 2 for superconducting tape applications, and others for battery nanomaterials [7] - The SDC product line also saw an increase in order rates in Q2 2022, although supply chain issues negatively impacted revenue and profitability across all segments [9] Market Data and Key Metrics Changes - The aerospace market is beginning to recover, but full recovery is not expected until at least 2023 [8] - Supply chain issues due to the pandemic and geopolitical instability have caused increases in commodity and product material costs, affecting all companies [9][15] Company Strategy and Development Direction - The company is focusing on markets that support the electrification of everything, including electric vehicle battery technology and high-power electronics [6] - CVD Equipment is driving towards operational self-reliance by installing additional machine centers to mitigate supply chain issues [10] - The company aims to leverage its investments in capital equipment to improve machining capabilities and operational efficiencies [26] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the second half of 2022, emphasizing the importance of customer focus and market engagement [21] - The return to profitability is dependent on the completion and delivery of existing orders, ongoing receipt of new orders, and managing supply chain issues [18] - The company believes its cash and cash equivalents will be sufficient to meet working capital and capital expenditure requirements for the next 12 to 18 months [19] Other Important Information - The company has been impacted by increased costs on manufacturing material components and delays in supply chain deliveries since Q3 2021 [15] - CVD Equipment is utilizing flexible in-house manufacturing to mitigate potential delivery delays and material cost increases [15] Q&A Session Summary Question: Employee headcount changes and hiring plans - The company has added approximately 15 to 18 personnel this year to support increased manufacturing capacity [22] Question: Ability to find skilled labor at the right cost - The company has been able to attract talent in engineering and operations, with positive results in hiring [24] Question: Future of in-house manufacturing if supply chain issues improve - The company plans to continue in-house manufacturing as it improves margins and supports competitiveness [26] Question: Explanation of different battery technology devices - The company manufactures the Carbon 300, Powder Coat 1100, and PVT-150, each serving different applications in battery technology and high-power electronics [27][29] Question: Competitors and market share growth - The growth has been attributed to both market share gains and overall industry growth [33] Question: National security concerns and preference for U.S. manufacturing - There is a preference for U.S. manufacturing in battery technology and electrification, which could benefit the company [36] Question: Scarcity of resources holding back potential - The primary issue is supply chain problems affecting all equipment companies [37] Question: Capital allocation thoughts for future profitability - The company is focusing on organic growth and has not prioritized share repurchase discussions at this time [46]
CVD(CVV) - 2022 Q2 - Quarterly Report
2022-08-14 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ____ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Name of Registrant in Its Charter) New York 11-2621692 State or Other Jurisdiction of I ...
CVD(CVV) - 2022 Q1 - Earnings Call Transcript
2022-05-16 23:59
CVD Equipment Corporation (NASDAQ:CVV) Q1 2022 Earnings Conference Call May 16, 2022 5:00 PM ET Company Participants Emmanuel Lakios – President & Chief Executive Officer Thomas McNeill – Executive Vice President & Chief Financial Officer Conference Call Participants Orin Hirschman – AIGH Capital Management Brett Reiss – Janney Montgomery Scott Martin Howard – Private Investor Operator Greetings and welcome to the CVD Equipment 2022 First Quarter Results Conference Call. At this time, all participants are i ...
CVD(CVV) - 2022 Q1 - Quarterly Report
2022-05-15 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ____ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Name of Registrant in Its Charter) New York 11-2621692 State or Other Jurisdiction of ...
CVD(CVV) - 2021 Q4 - Earnings Call Transcript
2022-04-01 00:22
CVD Equipment Corporation (NASDAQ:CVV) Q4 2021 Results Conference Call March 31, 2022 5:30 PM ET Company Participants Emmanuel Lakios - CEO Thomas McNeill - CFO Conference Call Participants Brett Reiss - Janney Montgomery Scott Operator Greetings, and welcome to the CVD Equipment 2021 Fourth Quarter and Year-End Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. We will begin with some prepared remarks followed by a question-and-answer session. Presenting on ...
CVD(CVV) - 2021 Q4 - Annual Report
2022-03-30 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ___ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Exact name of registrant as specified in its charter) New York 11-2621692 ( ...
CVD(CVV) - 2021 Q3 - Earnings Call Transcript
2021-11-16 02:58
CVD Equipment Corporation (NASDAQ:CVV) Q3 2021 Earnings Conference Call November 15, 2021 5:30 PM ET Company Participants Emmanuel Lakios - CEO Thomas McNeill - CFO Conference Call Participants Brett Reiss - Janney Operator Greetings, and welcome to our CVD Equipment's 2021 Third Quarter Results Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. ...
CVD(CVV) - 2021 Q3 - Quarterly Report
2021-11-14 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ____ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Name of Registrant in Its Charter) New York 11-2621692 State or Other Jurisdiction ...
CVD(CVV) - 2021 Q2 - Quarterly Report
2021-08-15 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ____ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Name of Registrant in Its Charter) New York 11-2621692 355 South Technology Drive Centr ...