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CVD Equipment Corporation (CVV 3.17, -0.19, -5.65%) announced that it received over $6.0 million in new orders during the three (3) months ended June 30, 2010 and approximately $9.3 million in new orders for the six (6) months ended June 30, 2010. This surpasses the $2.8 and $5.5 million of new orders received during the three (3) and six (6) months ended June 30, 2009 by 125% and 70% respectively. The orders received during this period also exceeded all January through June periods in the history of CVD.
Most of the orders received were with the CVD/FirstNano division for equipment solution offerings designed to accelerate the commercialization of tomorrow's technologies in solar/energy generation, energy saving and nanotechnology fields.
Orders received by the CVD/FN division during the first six (6) months of 2010 increased by 72% when compared to 2009 order levels. The CVD/FN division benefited from the increased interest in energy generation, energy savings and nanotechnology fields. We anticipate that this trend will continue to increase during the 2nd half of this year.
Orders received by the Conceptronic division increased by 103% when compared to 2009 order levels. The Conceptronic division benefited from a partial recovery from the significant downturn in the electronics industry during 2009.
The large demand for energy savings, energy generation materials and products needed to address rising energy and environmental costs creates a growing demand for manufacturing solutions using nanotechnology and thin film coatings on glass, wafers and other substrates. Using our Application Laboratory, we continue to perfect and expand the multiple areas where our process solutions can be applied. The solar, energy and nanotechnology markets offers us significant growth opportunities for technologies that deliver favorable cost benefits. These fields will benefit further from a renewed drive for energy savings and ecologically safe energy generation.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release by CVD Equipment Corporation (CVD), as well as information included in oral or other written statements made or to be made by CVD, contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, industry specific and general business conditions, competitive market conditions, success of CVD's growth and sales strategies, possible customer changes in delivery schedules, cancellation of orders, delays in product shipments, delays in obtaining parts from suppliers, failure to satisfy customer acceptance requirements and other risk factors described in CVD's SEC filings. All forward-looking statements are based on management's estimates, projections and assumptions as of the date hereof and CVD assumes no obligation to update this press release.
About CVD Equipment Corporation
CVD Equipment Corporation (CVV 3.17, -0.19, -5.65%) is a designer and manufacturer of standard and custom state-of-the-art equipment used in the development, design and manufacture of advanced electronic components, materials and coatings for research and industrial applications. CVD offers a broad range of chemical vapor deposition, gas control, and other equipment that is used by customers to research, design and manufacture semiconductors, solar cells, carbon nanotubes, nanowires, LEDs, MEMS, industrial coatings and equipment for surface mounting of components onto printed circuit boards.
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