CVD Equipment Corporation ( (CVV) ) has released its Q4 earnings. Here is a breakdown of the information CVD Equipment Corporation presented to its investors.
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CVD Equipment Corporation, a company specializing in chemical vapor deposition and related technologies, operates in the industrial equipment sector, focusing on markets such as aerospace, high power electronics, and energy storage.
In its latest earnings report, CVD Equipment Corporation reported a significant increase in revenue for the fourth quarter of 2024, with notable growth in its aerospace and defense markets. The company also highlighted challenges within the silicon carbide market due to overcapacity and declining wafer prices.
Key financial highlights include a fourth-quarter revenue of $7.4 million, marking an 80.3% increase from the previous year, and a backlog increase to $19.4 million. The company achieved a net income of $132,000 for the quarter, a turnaround from the previous year’s loss. For the full year, revenue rose by 11.5% to $26.9 million, despite a net loss of $1.9 million.
Looking ahead, CVD Equipment Corporation remains focused on strategic growth in emerging markets while managing expenses to achieve long-term profitability. The company acknowledges potential challenges from geopolitical factors and market fluctuations but is committed to building strong customer relationships and investing in key strategic areas.