CVD Equipment Corporation (Nasdaq: CVV)
announced today that new orders received during the month of January,
2011 totaled approximately $9.3 million dollars. These orders are for
both production and research equipment in the fields of Solar, LED’s and
Nanotechnology.
Leonard Rosenbaum, president of CVD Equipment Corporation, states, “We
are very pleased by the significant level of new orders received in
January, 2011 for both production and research equipment. We will
continue to not only expand our research product offerings, but also
continue to develop optimized production equipment for our customers. As
our research equipment customers transition from research to production,
CVD will continue to be an integral part of their success. The CVD/FN
division continues to benefit from increased interest and funding in
energy generation, energy savings and nanotechnology for both research
and production equipment. We anticipate that this interest will continue
throughout 2011.
To support our continued and projected growth, our Board of Directors
has taken the prudent step of filing a Form S-3 registration statement
with the U.S. Securities and Exchange Commission, commonly known as a
"shelf registration." When the shelf registration statement is declared
effective by the SEC, the Company, at its option, will have the ability
to conduct registered offerings of up to $20 million of common stock,
preferred stock, debt securities, warrants to purchase these securities,
unit offerings or any combination of such securities in multiple
transactions over a period of up to three years.
To be clear, we currently have an ample amount of cash and positive
operating cash-flow. However, we realize that to meet increasing order
levels and minimize segment risk, we may need to raise capital to
support the expansion of product offerings, personnel, equipment and
facilities. If we choose to sell shares under this shelf registration,
it will be at a price we deem favorable to the Company, shareholders and
for the purpose of financing both short and long term growth
opportunities. For the above reasons, we believe this shelf filing is
beneficial to the Company and its shareholders as it allows the Company
to raise the capital as needed to continue our current and anticipated
growth.”
Specific terms of any future offering under this registration statement
will be established at the time of any such offering and will be
described in a prospectus supplement that the Company would at such time
file with the SEC.
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ: CVV)
is a designer and manufacturer of standard and custom state-of-the-art
equipment used in the development, design and manufacture of advanced
electronic components, materials and coatings for research and
industrial applications. CVD offers a broad range of chemical vapor
deposition, gas control, and other equipment that is used by customers
to research, design and manufacture semiconductors, solar cells, carbon
nanotubes, nanowires, LEDs, MEMS, industrial coatings and equipment for
surface mounting of components onto printed circuit boards.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included in
this press release by CVD Equipment Corporation (CVD), as well as
information included in oral or other written statements made or to be
made by CVD, contains statements that are forward-looking. All
statements other than statements of historical fact are hereby
identified as "forward-looking statements," as that term is defined in
the Private Securities Litigation Reform Act of 1995. Such forward
looking information involves a number of known and unknown risks and
uncertainties that could cause actual results to differ materially from
those discussed or anticipated by management. Potential risks and
uncertainties include, among other factors, industry specific and
general business conditions, competitive market conditions, success of
CVD's growth and sales strategies, possible customer changes in delivery
schedules, cancellation of orders, delays in product shipments, delays
in obtaining parts from suppliers, failure to satisfy customer
acceptance requirements and other risk factors described in CVD’s SEC
filings. All forward-looking statements are based on management's
estimates, projections and assumptions as of the date hereof and CVD
assumes no obligation to update this press release.
This press release does not constitute an offer to sell or solicitation
of an offer to buy any securities. Any such offer may be made only
pursuant to the company's prospectus for the offering and only in
national and state jurisdictions in which the offering is registered or
exempt from registration and via authorized broker-dealers. The
securities offered by the prospectus involve a high degree of risk.
