CVD net income falls 59%

CVD Equipment Corp.'s second-quarter net income plunged 59 percent from a year earlier to $321,000, the Ronkonkoma-based company reported Tuesday.

Those results for the April-May-June period include a $694,000 capital loss on the sale of a building, as the company prepares to move into a new Central Islip facility with twice the space.

Revenue for the quarter declined 6 percent to $7.1 million, said the company, which makes high-tech tools used to manufacture equipment for the computer chip, solar-energy and nanotechnology industries.

Earnings per share fell 64 percent to 5 cents. Six-month revenue rose 4 percent to a record $14.2 million. But earnings for that period fell 29 percent to $1.05 million.

Chief executive Leonard Rosenbaum attributed the decline to cramped quarters. "Space limitations in our current facility hindered our ability to expand production and add engineering and management personnel," he said.