|By Business Wire||
|March 31, 2014 05:35 PM EDT||
CVD Equipment Corporation (NASDAQ:CVV) announced revenue and earnings for the year ending December 31, 2013.
On revenue of approximately $17,884,000 for the year ended December 31, 2013 the Company recorded a net loss of approximately $560,000 or $0.09 per basic and diluted share.
An expansion plan that began in 2011, to enable CVD Equipment Corporation to meet anticipated future production requirements, was completed in 2013 with the Company taking occupancy of its 130,000 square foot headquarters in Central Islip, New York. Our 2012 and 2013 results of operations were significantly impacted by this transaction due to the substantial amount of time and effort which was dedicated to purchasing, renovating and moving into the new facility. During this transition period the Company continued to increase and train additional sales, engineering and production staff in order to maximize productivity once the move was completed.
With the expansion of its Application Laboratory, CVD increased its research and development efforts towards producing higher efficiency material for a wide variety of growth markets to accelerate the introduction of nano materials into a range of products and applications marketed through our wholly owned subsidiary CVD Materials Corporation. During this period CVD increased our internally funded research and product development expenditures from $0 in 2011 to $389,000 in 2012 and $1,013,000 in 2013.
Additionally, during the transition period into the new facility, order acceptance levels were purposely reduced in order to maintain a more manageable backlog level during the transition. Order backlog usually is a reasonable management tool to indicate future revenues and profits, however it does not provide an assurance of future achievement of revenues or profits as order cancellations or delays are possible. Backlog from quarter to quarter can vary based on the timing of order placements and shipments.
The Company continues to maintain a strong cash position and a healthy working capital ratio despite the cash outlays for the new facility, internal R&D and the inherent inefficiencies of moving into new quarters.
Leonard Rosenbaum, President and Chief Executive Officer stated: “We had a difficult 2013 with getting the new facility operational. We added a significant amount of both space and new personnel and the effectiveness of both took longer to bring operational than was expected. I can happily say that this investment started to be recognized by our customers with the placement of orders in excess of $21,000,000 during the four months ending January 31, 2014 as reported in a press release on February 4, 2014. In another press release dated January 9, 2014, we reported the filing of provisional patents covering production of larger size, higher quality CVD graphene in increased quantity and at a lower cost. We believe that our internal investment in R&D was well spent and will keep us at the forefront in manufacturing of nanomaterials in the years to come.
I anticipate that 2014 order levels will exceed all previous year order levels and demonstrate that our difficult move to the new facility is behind us. Our quotation level continues to be very high and we have a very bright future. Our ability to work with customers to solve their process issues by defining, designing and manufacturing customized equipment for their production needs will continue to provide us with significant order levels. Our First NanoTM EasyTube® product family keeps us in the forefront of technology and continues to expand throughout the world in fields such as Nanotubes (Carbon and Boron Nitride), Graphene, Nanowires (Zinc Oxide, Gallium Nitride, Silicon,) Solar Cells, MEM’s, Energy generation and storage, Semiconductors and Light Emitting Diodes. Our Application Laboratory together with our wholly owned subsidiary, CVD Materials Corporation is providing research and implementation of our business plan to offer our assistance in accelerating the commercialization of the next generation products on CVD production equipment platforms. The Company plans to further expand our technology, products and customer base in 2014.”
CVD Equipment Corporation
Comparison of Consolidated Statements of Operations
For the Twelve Months Ended December 31, 2013 vs. December 31, 2012
- Per share basic
- Per share diluted
Earnings release should be read in conjunction with Company’s Annual Report on Form 10-K for fiscal year ended December 31, 2013
CVD Equipment Corporation (NASDAQ:CVV) is a designer and manufacturer of custom and standard state-of-the-art equipment used in the development, design and manufacture of advanced electronic components, materials and coatings for research and industrial applications. CVD offers a broad range of chemical vapor deposition, gas control, and other equipment that is used by customers to research, design and manufacture semiconductors, solar cells, graphene, carbon nanotubes, nanowires, LEDs, MEMS, smart glass coatings, batteries, ultra capacitors, medical coatings, industrial coatings and equipment for surface mounting of printed circuit components. CVD’s application laboratory focuses on higher efficiency nano and nano to macro material manufacturing for a wide variety of growth markets, which are marketed through our wholly owned subsidiary CVD Materials Corporation.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by CVD Equipment Corporation) contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as “forward-looking statements,” as such term is defined in Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, conditions, success of CVD Equipment Corporation’s growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Oct. 22, 2016 07:45 PM EDT Reads: 1,812
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 22, 2016 07:00 PM EDT Reads: 758
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 22, 2016 06:45 PM EDT Reads: 610
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 22, 2016 06:00 PM EDT Reads: 8,955
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 22, 2016 05:30 PM EDT Reads: 479
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Oct. 22, 2016 05:30 PM EDT Reads: 968
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Oct. 22, 2016 04:00 PM EDT Reads: 3,843
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Oct. 22, 2016 04:00 PM EDT Reads: 3,655
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Oct. 22, 2016 04:00 PM EDT Reads: 3,582
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Oct. 22, 2016 03:45 PM EDT Reads: 1,441
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 22, 2016 03:45 PM EDT Reads: 650
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, will discuss the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docke...
Oct. 22, 2016 03:30 PM EDT Reads: 2,244
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Oct. 22, 2016 03:00 PM EDT Reads: 3,894
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, will contrast how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He will show the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He will also have live demos of building immutable pipe...
Oct. 22, 2016 02:45 PM EDT Reads: 1,501
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, you'll learn about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how Docke...
Oct. 22, 2016 02:45 PM EDT Reads: 1,541