Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| But we’ve seen and in our press release, we noted that we had – we’ve had a strong aerospace and defense market share mix this year with the CVI tools for the large gas turbine engines |
| We are pleased that our year-to-date revenue for the first nine months of 2023 continues to be $1.4 million or 7.6% higher than the prior year |
| So that’s an area where CVD has had a history in, in our legacies, and we’re glad that – and pleased with the performance of our aerospace and defense product line because, quite frankly, it is part of our business |
| And we’ve gotten good, what I would call, market awareness |
| As well, we appreciate your loyalty and also the loyalty of our employees and suppliers |
| And as we say and as we commented in the script, the – our success in all of our products is our ability to perform – our product performance, our ability to perform as a company as well as the customers’ acceptance and qualification in the marketplace and their ability to raise funding |
| I’m good |
| So that’s all a positive |
| And we continue to be very supportive of them |
| Our installed base of PVT150 systems are meeting our performance expectations, and we continue to support our existing PVT customer in their end product development goals |
| It helps, of course, more than pay the bills, and it gives us runway as we – it allows us to tread water while our high-power electronic silicon carbide crystal growth system gets adopted, and we – again, is the when, not the if statement |
| In prepping for this call, I kind of perused your website, which I see has been revamped, and it looked very good |
| We have ample – we never have enough, but we have ample working capital to fund our 2024 objectives and business plan |
| We look forward to continuing to build on our success in the years ahead and remain cautiously optimistic |
| We continue to make progress divesting and winding down noncore business entities to allow our team to focus on the equipment product lines and pipeline of potential customer opportunities in our key strategic markets of high-power electronics, battery materials, energy storage and aerospace defense |
| But we also have accounts that are very well funded also, potential accounts |
| Thank you for answering my questions and have a good Thanksgiving to both of you |
| So we have a broad breadth of opportunities in our sales funnel |
| We remain committed to stay the course of our strategy to achieve consistent long-term profitability, growth and return on investment |
| Great |
| We’ve created awareness of the CVD brand at all of the high-power electronics, silicon carbide crystal growth companies |
| Happy Thanksgiving to all |
| So it’s good, but you never want to raise money when you need it |
| We continue to find ways to improve our efficiencies, and we always continue to look at talent as it may come along as we need the talent |
| Emmanuel Lakios Sherry, thank you, and good afternoon, everyone |
| And we think we’re properly sized |
| Our return to profitability is subject to our ability to receive additional system orders and continue our efforts to reduce our overall operating costs |
| Thank you |
| Thank you |
| Overall, our focus remains on our customers, our employees, our shareholders and the pursuit of growth and return to consistent profitability |
| Statement |
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| The decline in gross profit margin from the prior year was primarily due to results and changes in our contract mix, increases in certain component costs as well as higher compensation costs as well as lower gross profit due to the sale, again, of our Tantaline subsidiary and the wind down of our MesoScribe operations |
| The venture market is very, very soft as you indicate, and that both troubles us |
| As such, while we experienced a year-over-year decline in third quarter revenue of approximately $1.9 million |
| This decrease in our revenue was primarily attributable to lower revenue in our CVD Equipment segment of $1 million primarily related to lower PVT system revenues that was partially offset by higher aerospace revenue |
| The increase in operating loss was due to lower revenues as well as increased operating costs |
| Our CVD Materials revenues were lower by $0.7 million due to the sale of our Tantaline subsidiary in May 2023 and the wind down of our MesoScribe operations |
| The softness in the PVT orders, that means, I guess, your existing customer has decided not to expand |
| This – as compared to $17.8 million as of the beginning of the year, as our orders were slightly less than revenues by approximately $100,000 |
| But the roadblock there had been that second potential customer needed to do some sort of capital raise, which, from my end, that’s – this is a bit of a challenging market for capital raises |
| At the non-operating income, which consisted principally of interest income, our net loss for the third quarter was $753,000 or $0.11 per share for both basic and diluted |
| Our reported backlog at September 30 was also reduced, however, by about $0.5 million related to Tantaline and $0.6 million related to the planned wind down of MesoScribe |
| Our operating loss for the third quarter of 2023 was $1 million as compared to operating income of $0.1 million for the third quarter 2022 |
| This represents a decrease of $1.9 million or 23.2% |
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