CVD Equipment Corporation (Nasdaq: CVV) announced that it received approximately $7.7 million in new orders during the three months ending September 30, 2010 and approximately $17 million in new orders for the nine months ending September 30, 2010.
This surpasses the $2.3 and $7.8 million of new orders received during the three (3) and nine (9) months ending September 30, 2009 by 234% and 119% respectively. The orders received during this period also exceeded all January through September periods in the history of CVD.
Orders received by the CVD/FN division for the three (3) months ending September 30, 2010 increased by 374% and for the nine (9) months ending September 30, 2010 increased by 146% when compared to 2009 order levels. The CVD/FN division benefited from the increased interest in energy generation, energy savings, nanotechnology, semiconductor and MEMS fields as well as the increase in the availability of funds to purchase capital equipment. We anticipate this trend will continue to increase in future quarters.
The large demand for energy savings, energy generation materials and products needed to address rising energy and environmental costs creates a growing demand for manufacturing solutions using nanotechnology and thin film coatings on glass, wafers and other substrates. Using our Application Laboratory, we continue to perfect and expand the multiple areas where our process solutions can be applied. The solar, energy and nanotechnology markets offers us significant growth opportunities for technologies that deliver favorable cost benefits. These fields will benefit further from a renewed drive for energy savings and ecologically safe energy generation.