June 20, 2021
Business News

CVD Reports First Quarter 2021 Results

CENTRAL ISLIP, N.Y.–()–CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems and materials, today announced its first quarter 2021 financial results.

As a result of the COVID-19 pandemic, CVD’s new order bookings substantially decreased commencing in the first quarter of 2020, which reduced revenues in subsequent quarters, resulting in CVD first quarter 2021 revenue of $3.4 million as compared to $6.0 million in the (Pre COVID-19 pandemic) first quarter of 2020, a decrease of $2.6 million or 44.3%. This reduction in sales and resultant lower gross profit negatively affected CVD’s net income in the first quarter of 2021. Net loss for the first quarter 2021 was $1.5…

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