CVD Equipment reports ‘record’ revenue, earnings
Leonard A. Rosenbaum, president and CEO of CVD Equipment Corp., seen on Aug. 9, 2011. Credit: Heather Walsh
CVD Equipment Corp., a maker of equipment used to create materials and coatings used in the aerospace, healthcare and semiconductor industries, Tuesday reported “record” third quarter revenue and earnings.
The Central Islip company reported revenue of $10.8 million, more than double its revenue in the 2016 quarter. The company swung to net income of $1.4 million, or 22 cents per diluted share, from a loss of $85,000, or 1 cent per diluted share, in the year-earlier quarter.
“Building on the last two quarters, CVD delivered an exceptional quarter with record revenue and earnings,” CVD president and chief executive Leonard Rosenbaum said in a statement.
In October, the company said it is buying a 180,000-square-foot facility near its headquarters for $13.9 million as part of an expansion plan for its anti-corrosion coatings business.
The company had 173 employees as of Dec. 31, it previously reported.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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