Earnings ·
CVD Equipment Corporation reported second quarter 2026 results, driven by a $13.9 million gain from the April 1, 2026…
CVVCvd Equipment Corp
CVD Equipment Corporation reported second quarter 2026 results, driven by a $13.9 million gain from the April 1, 2026 sale of its SDC division for $17.4 million. The transaction generated approximately $15.0 million in net cash proceeds, increasing cash and cash equivalents to $23.5 million with no long-term debt. Reported net income was $12.6 million, or $1.81 per share, compared to a net loss of $1.1 million in the prior year period. From continuing operations, revenue declined 42.6% to $2.0 million and orders fell to $1.2 million due to lower system bookings. The company completed an operational restructuring to reduce fixed costs. Additionally, a customer associated with a recent $0.8 million order filed for Chapter 11 bankruptcy, prompting the company to evaluate potential impacts on backlog and financial results. CVD Equipment Corporation designs, develops, and manufactures chemical vapor deposition and thermal processing equipment for industrial and research applications.