CVD Equipment Corp., a Ronkonkoma maker of nanotechnology tools, reports that its sales doubled and its profit increased nearly tenfold in the quarter ended Sept. 30.
An intensive effort to turn its backlog into completed orders drove the company to record levels of sales and income, said chief executive Leonard Rosenbaum.
It could do even better in the near future as it expands into a new headquarters building in Central Islip, Rosenbaum said.
For the third quarter of its fiscal year, CVD said, it made $1.2 million on sales of $8.84 million, compared to $143,000 profit on sales of $4.03 million in the same quarter last year. Its earnings per diluted share increased to $0.20 from $0.03.
CVD specializes in making the chemical vapor deposition tools used to create atomic-level layers of conductive materials on computer chips, solar cells, light-emitting diodes and other products.
Its shares closed at $15.75 Monday, an increase of 118 percent for the year.
During the first and second quarters of the year, Rosenbaum said, "We concentrated our efforts to convert into increased revenue and income the backlog that began to significantly increase in the second half of 2010."
The company's move to Central Islip early next year "will further expand capacity, and we anticipate continued order and revenue growth in 2012," he said.
"We see significant growth opportunities in energy generation, energy storage, aerospace, medical, LEDs, graphene, nanowires and nanotubes."
Rosenbaum said the new building, about 15 minutes from its current Ronkonkoma offices, will allow an overall doubling of space for its engineering, manufacturing, administration and application laboratory.
Photo: Some CVD Equipment Corp. equipment.
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