Business Wire·May 14, 2026, 4:00 PM ET

CVD Equipment Corporation Reports First Quarter 2026 Results

CVV

CVD Equipment Corporation completed the sale of its SDC division on April 1, 2026, following an agreement signed on March 23, 2026.
Net cash proceeds from the SDC sale totaled $14.8 million after transaction costs & employee liabilities, leaving the company with approximately $23 million in cash & no long-term debt as of April 1, 2026.
SDC operations are now classified as discontinued operations, & the company operates as a single reportable segment focused on the CVD Equipment division.
First quarter 2026 revenue from continuing operations was $1.8 million, a 70.9% decrease from the prior year quarter due to lower system bookings.
Orders for the quarter reached $1.8 million, up from $0.8 million in the prior year quarter, driven by higher non-system orders for spare parts.
Gross margin for the quarter was 8.0%, down from 27.4% in the prior year, primarily due to reduced CVD system revenue & lower absorption of fixed manufacturing costs.
The company reported a net loss from continuing operations of $1.7 million ($0.25 per share), compared to a $0.2 million loss ($0.03 per share) in the prior year quarter.
A workforce reduction in the CVD Equipment division during the fourth quarter is expected to reduce annual operating costs by approximately $1.8 million in fiscal 2026.
Strategic focus remains on aerospace & defense, industrial applications like silicon carbide for high-power electronics, & emerging nuclear energy sectors.
A conference call to discuss these results is scheduled for May 14, 2026, at 5:00 PM ET, with details available on the company website & via telephone.