CVD Equipment Records 73% Increase In 1H Orders

CVD Equipment Corp CVV witnessed increased order demand in 2Q22. The orders exceeded $12.6 million in the quarter compared to ~$6 million in 2Q21.
The orders stood at $16.7 million for the first half of 2022, an increase of 73.2% Y/Y.
CVD's orders in 1H of 2022 were attributed to the strong demand for the PVT-150 system developed to support the manufacturing of Silicon Carbide wafers used in high-power electronics for EV charging & power transmission.
The need for nanotechnology materials, including carbon nanotubes/fibers, nanomaterials on powder, and superconducting tape, also contributed to the order flow.
The company received 20 combined CVD systems orders in the first half.
Price Action: CVV shares are trading higher by 4.63% at $4.14 on the last check Thursday.