CVD Equipment (CVV) Reports Q4 Loss of $0.29

CVD Equipment (NASDAQ: CVV) reported Q4 EPS of ($0.29), versus ($0.24) reported last year.

“2018 was a transitional year for CVD. After completing a large contract with a major customer, the Company has accelerated its focus on the materials business. During 2018, the Company invested $2.5 million in building improvements and machinery related to CVD Materials and incurred additional expenses in connection with our recently acquired facility in Central Islip, New York. We anticipate operations at the new facility will commence at the end of the second quarter or during the third quarter of 2019. During 2019, we will continue to invest in further building improvements and machinery to accelerate and diversify our business into the materials market. With the building and machinery components nearing completion, this will allow us to enhance our marketing efforts by showcasing our operations with new and existing customers. The expanded materials operations this year will enhance our capabilities in providing i) corrosion resistant coatings through our Tantaline® subsidiary for medical, pharma, oil and gas applications, ii) sensors through our MesoScribe™ subsidiary for aerospace and turbine applications, and iii) through our CVD Materials subsidiary for carbon composite materials for medical applications, substrate materials for the electronics industry and further expansion into other coatings for aerospace, medical, and industrial applications,” said Leonard Rosenbaum, President and Chief Executive Officer.

For earnings history and earnings-related data on CVD Equipment (CVV) click here.

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