The nanotechnology maker CVD Equipment Corp. reports that it has completed the sale of its former lab buliding, on Marconi Avenue in Ronknonkoma, and is now focused on its move to a newly purchased Central Islip headquarters.
CVD, in a Monday statement, did not immediately disclose the selling price or the buyer for the 979 Marconi Ave., Ronkonkoma, building that housed its application laboratory.
During and after the move to 355 South Technology Dr., Central Islip, the company will turn its attention to "growing our CVD materials and equipment business," Leonard Rosenbaum, president and chief executive, said in a prepared statement.
"We expect additional growth opportunities for both equipment and materials, based on materials developed in our larger and enhanced application laboratory," Rosenbaum said.
The company specializes in making chemical vapor deposition tools used to create atomic-level layers of conductive materials on such products as computer chips, solar cells and light-emitting diodes. With about 160 employees, CVD had $3.7 million income on $31 million sales during its four most recent quarters.
CVD in March reported that an intensive effort to turn its backlog into completed orders resulted in sharp increases in sales and profits. The company nearly doubled its sales in 2011 compared to the previous year, and saw an even larger increase in profits, CVD said in its annual report.
CVD's stock price, in early trading Tuesday, was up 18 cents to $14.10, in the middle of its 52-week range of $9.90-$19.76.
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