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Business

CVD Equipment of Ronkonkoma announces yearly profit

CVD Equipment Corp., Ronkonkoma

Maker of semiconductor industrial equipment

Year: Ended Dec. 31, 2009

Net income: Profit of $179,000, compared with profit of $632,000 in 2008

Net revenue: $10.6 million compared with $18.1 million in 2008

Outlook: "The difficult economic conditions experienced in 2009 have not continued into 2010. Our quotation activity is very high and new order levels have increased," Leonard Rosenbaum, president and chief executive, said in a news release. "We believe this trend will continue to increase in subsequent quarters."

Company statement: "The drop in revenue was due to "delays or reductions in capital expenditures by potential customers due to unfavorable economic conditions and . . . a significant contract from a CVD division customer being breached during the fourth quarter of 2009," the company said.

- Joseph Mallia

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