CVD Equipment Corporation (NASDAQ:CVV) Q4 2020 Earnings Conference Call March 31, 2021 4:30 PM ET Company Participants Emmanuel Lakios - President and Chief Executive Officer Thomas McNeill - Chief Financial Officer Conference Call Participants Brett Reiss - Janney Montgomery Scott Operator Greetings, and welcome to CVD Equipment 2020 Fourth Quarter and Year End Results Conference Call. At this time, all participants are in a listen only mode. [Operator Instructions] As a reminder, this conference is being ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ___ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Exact name of registrant as specified in its charter) New York 11-2621692 ( ...

Financial Performance - Total revenue for Q3 2020 was $3,993,204, a decrease of 30.0% compared to $5,704,882 in Q3 2019[14] - Gross profit for Q3 2020 was $435,791, down 68.9% from $1,399,823 in Q3 2019[14] - Operating loss for Q3 2020 was $(1,392,653), compared to $(248,571) in Q3 2019, reflecting a significant increase in losses[14] - Net loss for the nine months ended September 30, 2020, was $(767,591), compared to $(3,707,685) for the same period in 2019[14] - For the three months ended September 30, 2020, the net loss was $1,291,641 compared to a net loss of $138,009 for the same period in 2019, indicating a significant increase in losses[16] - Total consolidated revenue for the nine months ended September 30, 2020, was $13,748,000, a decrease from $14,100,000 in the same period of 2019, representing a decline of approximately 2.5%[68] - Operating loss for the nine months ended September 30, 2020, was $(2,417,000), compared to an operating loss of $(4,357,000) for the same period in 2019, indicating an improvement in operational performance[68] Expenses and Liabilities - Research and development expenses decreased to $90,227 in Q3 2020 from $112,724 in Q3 2019, a reduction of 20.0%[14] - Total current liabilities decreased to $3,490,592 in September 2020 from $5,388,081 in December 2019, a reduction of 35.2%[10] - Total stockholders' equity decreased to $29,390,368 in September 2020 from $29,957,845 in December 2019[10] - Total operating expenses for the three months ended September 30, 2020, were $1,828,444, an increase of 10.9% from $1,648,394 in the prior year[14] - The company reported stock-based compensation of $200,114 for the nine months ended September 30, 2020, compared to $476,458 for the same period in 2019, showing a decrease of about 58%[19] Cash Flow and Assets - Cash and cash equivalents decreased to $8,187,497 in September 2020 from $8,664,253 in December 2019[10] - The total cash and cash equivalents at the end of the period were $8,187,497, down from $6,739,065 at the end of September 30, 2019, reflecting a decrease of approximately 21.5% year-over-year[19] - The net cash used in operating activities for the nine months ended September 30, 2020, was $1,188,504, compared to $2,092,962 for the same period in 2019, indicating a decrease of about 43%[19] - The company had total inventories of $1.444 million as of September 30, 2020, down from $1.710 million at December 31, 2019[49] - The company’s retained earnings decreased to $2,404,463 as of September 30, 2020, from $3,172,054 at December 31, 2019, reflecting the impact of operational losses[10] Customer and Revenue Insights - During the three months ended September 30, 2020, two customers accounted for 26.0% of total revenues, while in the same period of 2019, two customers represented 42.8%[38] - The Company reported total revenues of $3.0 million for the three months ended September 30, 2020, compared to $5.7 million for the same period in 2019, reflecting a decrease of approximately 47%[41] - The Company has unrecognized contract revenue of approximately $2.7 million at September 30, 2020, expected to be recognized within the next twelve months[45] - The company’s revenue disaggregation showed aerospace revenue of $1.433 million for the three months ended September 30, 2020, compared to $2.506 million in 2019[41] Debt and Financing - The Company entered into a loan agreement for $2.4 million under the Paycheck Protection Program, maturing on April 21, 2022[57] - The Company has a long-term debt balance of approximately $2.1 million as of September 30, 2020, down from $2.4 million at December 31, 2019[51] - The Company recognized approximately $1.5 million of a tax benefit due to the CARES Act, with $0.8 million as a receivable at September 30, 2020[60] Impact of COVID-19 - The aerospace sector, which significantly impacts the company's business, has faced substantial reductions in new orders due to the COVID-19 pandemic, affecting revenue levels[70] - The Company experienced a significant reduction in new order levels during the first nine months of 2020, impacting revenues starting in the second quarter[70] - The company has been actively monitoring the impact of COVID-19 and plans to evaluate government-sponsored programs to mitigate financial impacts[70] - The company intends to continue monitoring developments related to COVID-19 and adapt its strategies accordingly to navigate the ongoing challenges[70]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ____ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Name of Registrant in Its Charter) New York 11-2621692 State or Other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from _____ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Name of Registrant in Its Charter) New York 11-2621692 State or Othe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ___ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Exact name of registrant as specified in its charter) New York 11-2621692 ( ...

Financial Data and Key Metrics Changes - In Q3 2019, the company's revenue was $5.7 million, an increase of $1.7 million or 41.6% compared to $4 million in Q3 2018 [7] - The net loss for Q3 2019 was $138,000 or $0.02 per diluted share, significantly improved from a net loss of $2.5 million or $0.39 per diluted share in Q3 2018 [7] - For the first nine months of 2019, revenues were $14.1 million, down from $19.6 million in 2018, a decrease of $5.5 million or 28.1% [8] - The gross profit margin improved to 25% in Q3 2019, compared to 10% in Q2 2019 and negative 11% in Q1 2019 [11] Business Line Data and Key Metrics Changes - The increase in Q3 revenue was primarily due to higher sales of spare parts and equipment [8] - The company received new orders of approximately $7.9 million in Q3 2019, compared to $3.3 million in Q2 and $6.5 million in Q1 2019, leading to an order backlog of $6.7 million as of September 30, 2019, up from $4.5 million at June 30 [10] Market Data and Key Metrics Changes - The company is focusing on high-margin growth markets in materials for corrosion resistance, medical, aerospace, and defense coatings to stabilize equipment sales [6] Company Strategy and Development Direction - The company is enhancing its marketing efforts for equipment and materials sales, showcasing its material facility operations and offering coating services to new and existing customers [4] - The company anticipates that the operational start of Tantaline U.S. manufacturing in Q4 will contribute to improved sales [5] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to profitability, citing improved order flow, cost containment measures, and enhanced gross profit margins [13][16] - The company is committed to monitoring orders and expenditures while focusing on returning to profitable quarterly results [6] Other Important Information - Cash and cash equivalents were $6.7 million at September 30, 2019, down from $11.4 million at December 31, 2018, with working capital decreasing to $9.7 million [14] - The company invested $2.1 million in capital expenditures related to building improvements and machinery for CVD Materials operations [15] Q&A Session Summary Question: Are the bookings of $7.9 million all legacy business or do they include new material handling business? - Management indicated that the $7.9 million includes both legacy business and some components from new material handling [17] Question: When will Tantaline operations be fully operational? - Management stated that Tantaline operations will start in Q4 but will take most of the first half of the next year to be fully operational [20] Question: Is there room for further cost reductions? - Management confirmed that cost containment is an ongoing process and they are always looking for efficiencies [23] Question: Will the company be hiring additional personnel as orders increase? - Management expressed hope to announce additional hirings as orders increase, indicating they do not intend to reduce beneficial personnel [24] Question: Is the company actively seeking a replacement tenant for the space given back? - Management confirmed that they are actively pursuing a replacement tenant through a broker [25] Question: What is the potential revenue for the Meso division in the coming years? - Management affirmed that the Meso division has the potential to become a significant revenue contributor, possibly reaching $5 million to $20 million in a few years [28]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ____ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Name of Registrant in Its Charter) New York 11-2621692 State or Other Jurisdiction ...

CVD Equipment Corporation (NASDAQ:CVV) Q2 2019 Earnings Conference Call August 13, 2019 4:30 PM ET Company Participants Len Rosenbaum - President & Chief Executive Officer Tom McNeill - Chief Financial Officer Conference Call Participants Brett Reiss - Janney Montgomery Scott Operator Greetings, and welcome to CVD Equipment's 2019 Second Quarter Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Inst ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from ____ to _____ Commission file number: 1-16525 CVD EQUIPMENT CORPORATION (Name of Registrant in Its Charter) New York 11-2621692 State or Other Jurisdiction of I ...