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CVD Equipment Corporation (Nasdaq: CVV) announced that 2008 order levels reached $29.0 million, more than double the 2007 order levels of $14.4 million, an increase of 101%.. Approximately half of the orders in 2008 were solar and energy market related with most incorporating CVD proprietary and/or patent pending thin film solutions for enabling tomorrow's technology™.
Most of the order growth came from solar/energy generation and energy saving fields as a result of our expanded process and equipment solution offerings designed to accelerate the commercialization of tomorrow's technologies.
2008 order levels for the CVD/FN and SDC divisions increased by 146% and 58% respectively, while the Conceptronic division decreased slightly by 3% compared to 2007 order levels. The CVD/FN and SDC divisions benefited from the increased business interest in energy generation and energy savings fields. We anticipate this trend to continue. The Conceptronic division was impacted by the downturn in the electronics industry over the last two quarters. We expect this trend to continue at least through the first two quarters in 2009.
The large demand for energy savings, energy generation materials and products needed to address rising energy costs creates a growing demand for manufacturing solutions using thin film coatings on glass, wafers and other substrates. Using our application laboratory, we will perfect and expand the multiple areas where low cost thin film manufacturing solutions can be applied and further optimize our proprietary and patent pending technologies for cost and performance. The solar, energy and power semiconductor markets we are addressing with multiple products have significant growth opportunities for technologies that deliver favorable cost benefits. These fields should benefit further from a renewed drive for energy savings and generation driven by President-elect Obama's administration.
About CVD Equipment Corporation
CVD Equipment Corporation owns and operates three divisions: Together the CVD and First Nano product group form the CVD/First Nano Division. The CVD product group designs and builds pilot and production equipment for custom Chemical Vapor Deposition processes for a wide variety of applications. The First Nano product group manufactures the EasyTube equipment product line used by researchers around the world to develop and grow a wide variety of next generation Nanowire, Nanotube and Thin Film Materials. The CVD/First Nano Division also operates an Application Laboratory where it develops advanced processes and solutions to facilitate the commercialization of emerging technology in the nano/solar and green field and develops/optimizes custom material manufacturing processes. The Stainless Design Concepts Division manufactures Ultra High Purity (UHP) gas and chemical delivery systems for state-of-the-art semiconductor fabrication processes. It offers complete gas and chemical delivery product lines ranging from cutting-edge to basic gas and chemical handling. The Conceptronic/Research International Division supplies reflow ovens and rework stations to the Printed Circuit Board assembly market and ball attach ovens to the back-end semi-conductor packaging industry. It also develops custom industrial inline oven based systems that process materials with controlled gas atmospheres and temperature profiles.
This press release contains forward-looking statements set within the meaning of the Private Securities Litigation Reform Act of 1995, except for historical information contained herein; the matters set forth in this news release are forward-looking statements. Readers should note that the forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including, without limitation, the uncertainties discussed under the caption “Risk Factors” in the Company’s Registration Statement on Form S-1 filed with the SEC on July 3, 2007, as subsequently amended, which discussion is incorporated herein by reference. Readers should also read the periodic filings and current Form 8-K reports of the Company.
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CVD Equipment Corporation
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