CVD Equipment Corp (CVV) News & EventsCVVNews & EventsCVD Equipment Corp

CVD Equipment Reports Q1 Revenue of $1.8M

Reports Q1 revenue $1.8M vs $6.33M last year. Manny Lakios, President and Chief Executive Officer of CVD Equipment Corporation, stated, "The sale of SDC has significantly strengthened our balance sheet, providing additional financial flexibility as we continue to evaluate strategic opportunities for the CVD Equipment business, its product lines, and our facilities. In addition, we are continuing to drive operational efficiencies and reduce our operational costs, with an ongoing commitment to maximizing shareholder value. This included, as previously announced, a workforce reduction within the CVD Equipment division during the fourth quarter as we transitioned from a vertically integrated fabrication model to outsource fabrication for certain components. This action is expected to reduce our annual operating costs by approximately $1.8 million in fiscal 2026."

CVD Equipment Completes Sale of SDC Business for Approximately $16.9 Million

CVD Equipment announced that it has completed the sale of the Company's Stainless Design Concepts, SDC, business division. The previously announced transaction was completed for a purchase price of approximately $16.9 million in cash, subject to certain purchase price adjustments. CVD expects to use the proceeds from the transaction to enhance its financial flexibility and support strategic initiatives aimed at creating shareholder value. The net cash proceeds, after payment of transaction expenses and taxes are approximately $15.0 million. Of this amount, $900,000 will be held in escrow to satisfy potential post-closing adjustments and indemnification obligations in accordance with the terms of the asset purchase agreement. The Company will retain ownership of its Saugerties, New York facility, which will be leased to the buyer for an initial term of two years.

Investor Sentiment Affected by Middle East, S&P 500 Declines 0.4%

Investor sentiment continues to hinge on developments out of the Middle East, and the market is still not buying the latest salvo from President Trump that U.S. negotiators are in "serious discussions" to end the war.  After opening broadly higher, indices ended the day mixed, with S&P 500's decline of 0.4% bringing the benchmark index within a percentage point of an official correction territory.  While the Vix retreated modestly, it remains above the 30 handle, and while Treasury yields saw a sharp reversal from the steel ascend since the start of the Iran campaign, the 10-year is still over 30bps higher as traders remains concerned by the inflationary slowdown as a result of rising energy prices.   Cyclical Industrials and Technology sectors were the worst performers, while defensively-oriented Staples and Utilities outperformed.  In the evening hours, futures are little changed, though commodities are showing continued strain, with WTI Crude Oil futures up for fourth straight session, topping $104 per barrel.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Spruce Powerup 6.0%Progress Softwareup 1.3%DOWN AFTER EARNINGS -Phreesiadown 22.0%CVD Equipmentdown 10.8%Lantern Pharmadown 6.9%ALSO LOWER -PepGendown 44.4% after Phase 2 Freedom trial data