RONKONKOMA, N.Y.--(BUSINESS WIRE)--CVD Equipment Corporation (Nasdaq: CVV) announced that it received over $8 million for 4th quarter 2010 and $25 million in new orders for 2010 surpassing the $9.9 million of new orders received in 2009 by 152%. This is the fourth successive quarterly increase in new orders.
New orders for the CVD/FN division of research and production systems in 2010 increased approximately 200% compared to 2009 order levels. The CVD/FN division continues to benefit from the increased interest in energy generation, energy savings and nanotechnology fields. We anticipate that this increased demand will continue in 2011.
Additionally, new orders received in 2010 from our Conceptronic and SDC divisions increased by 53% and 40% respectively compared to 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 worldwide 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.
Our head-start in Graphene early in 2010 provided us with interesting opportunities when in October 2010 the Nobel Prize for Graphene was awarded. Overnight there was a significant increase in the number of researchers exploring applications for this novel material.
It is gratifying to see that our strategy of accelerating the commercialization of tomorrow’s technologies is now also being recognized by technology innovators with the financial acumen and resources to transition their research and development into production. Our equipment design, manufacturing skills and overall understanding in complex system integration and hardware/process interactions in collaboration with these technology innovators enables the design and manufacturing of a lower risk, higher value, equipment design solution which is a winning situation for both parties involved.
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ: CVV) 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.
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.