Business Wire·Aug 12, 2026, 4:00 PM ET

CVD Equipment Reports Second Quarter 2026 Results; Advances Strategic Transformation During Second Quarter, $23.5 Million in Cash and Debt-Free Balance Sheet

CVD Equipment Corporation reported financial results for the second quarter ended June 30, 2026.
The company completed the sale of its SDC division on April 1, 2026, for $17.4 million.
Net cash proceeds from the SDC divestiture totaled approximately $15.0 million after costs & estimated tax payments.
The company ended the quarter with $23.5 million in cash & cash equivalents & no long-term debt.
Reported net income for the quarter was $12.6 million, driven by a $13.9 million gain on the SDC divestiture.
Major operational restructuring was completed to significantly reduce the company's fixed cost structure.
Orders for continuing operations were $1.2 million, down from $1.5 million in the prior year quarter.
Revenue for continuing operations was $2.0 million, a 42.6% decrease compared to the prior year quarter.
Gross margin for continuing operations improved to 16.8% from 14.1% in the prior year quarter.
Backlog stood at $3.9 million at June 30, 2026, down from $4.6 million at March 31, 2026.
Net loss from continuing operations was $1.4 million, or $0.20 per share.
Net income from discontinued operations was $13.9 million, or $2.01 per share.
A customer associated with a $0.8 million system order filed for Chapter 11 bankruptcy following quarter-end.
A conference call to review results is scheduled for August 12, 2026, at 5:00 PM ET.