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
'Tis the season for the NewsdayTV Holiday Show! The NewsdayTV team looks at the most wonderful time of the year and the traditions that make it special on LI.
'Tis the season for the NewsdayTV Holiday Show! The NewsdayTV team looks at the most wonderful time of the year and the traditions that make it special on LI.
