DivestmentAug 12, 2026, 04:03 PM
CVD Equipment Reports Q2 Net Income $12.6M, Boosted by SDC Divestment
AI Summary
CVD Equipment reported Q2 2026 net income of $12.6 million, or $1.81 per share, primarily driven by a $13.9 million gain from the divestiture of its SDC division. This strategic move significantly strengthened the company's balance sheet, resulting in $23.5 million in cash and no long-term debt. While continuing operations saw revenue decline by 42.6% to $2.0 million and a net loss of $1.4 million, the company completed a major operational restructuring and is evaluating strategic alternatives.
Key Highlights
- Completed SDC division sale for $17.4 million on April 1, 2026.
- Generated $15.0 million net cash proceeds from SDC divestiture.
- Ended Q2 2026 with $23.5 million cash and no long-term debt.
- Reported Q2 net income of $12.6 million, or $1.81 per share.
- Gain on SDC divestiture was $13.9 million.
- Revenue from continuing operations decreased 42.6% to $2.0 million.
- Net loss from continuing operations was $1.4 million, or ($0.20) per share.
- Backlog stood at $3.9 million at June 30, 2026.
- Customer for $0.8 million system order filed Chapter 11 bankruptcy.
Price Impact
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