The following is a summary of the CVD Equipment Corporation (CVV) Q3 2024 Earnings Call Transcript:
Financial Performance:
Q3 revenue was $8.2 million, a 31.4% increase from the previous year and a 29.1% rise from Q2 2024.
Q3 orders were $4.1 million, driven mainly by the CVD segment, with total orders for the first nine months amounting to $21 million.
Net income for Q3 was $209,000, or $0.03 per share, an improvement from a net loss the previous year.Gross profit margin for Q3 was 22.4%, affected by a $1 million inventory charge related to transitioning from 150mm to 200mm silicon carbide production.
Business Progress:
Shipped a PVT200 system to a new account in the silicon carbide sector.
Received a $3.5 million follow-on order for a CVI/CVD3500 system from an aerospace customer.
MesoScribe subsidiary, part of the CVD Materials segment, completed its final orders and operations were ceased as of September 30, 2024.
Opportunities:
Ongoing recovery in the aerospace and defense market segment indicates potential sustained demand and growth opportunities.
Risks:
Overcapacity and declining wafer prices in the 150mm silicon carbide market pose challenges, prompting a shift to 200mm production.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
