UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

  FORM 10-QSB

  [X] Quarterly Report Pursuant to Section 13 or 15(d) of
  the Securities Exchange Act of 1934

  For the quarterly period ended              Commission File Number 1-16525
  September 30, 2004


                           CVD EQUIPMENT CORPORATION
             (Exact name of registrant as specified in its charter)

             New York                                    11-2621692
     (State or other jurisdiction                    (I.R.S. Employer
      of incorporation or organization)             Identification No.)

                             1860 Smithtown Avenue
                           Ronkonkoma, New York 11779
                    (Address of principal executive office)

       Registrant's telephone number, including area code (631) 981-7081


  Indicated by check mark whether the Registrant (1) has filed all reports to
  be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934
  during the preceding 12 months (or for such shorter period that the
  Registrant was required to file such reports), and (2) has been subject to
  such filing requirements for the past 90 days.

  Yes  X        No

  Indicate by check mark whether registrant is an accelerated filer (as
  defined in Rule 12b-2 of the Exchange Act).

  Yes           No  X

  As of November 12, 2004 3,039,100 shares of the issuer's common stock, par
  value $.01, were outstanding.

  <PAGE> 1

                    CVD EQUIPMENT CORPORATION AND SUBSIDIARY

                                     Index


  Part I - Financial Information

  Item 1 - Financial Statements

     Condensed Consolidated Balance Sheets at September 30, 2004
        (Unaudited) and December 31, 2003
                                                                           2
     Condensed Consolidated Statements of Operations (Unaudited)
        for the three and nine months ended September 30, 2004 and 2003
                                                                           3
     Condensed Consolidated Statements of Cash Flows (Unaudited)
        for the nine months ended September 30, 2004 and 2003
                                                                           4
     Notes to Condensed Consolidated Financial Statements
                                                                           5
  Item 2 - Management's Discussion and Analysis of Financial
     Condition and Results of Operations
                                                                           10
  Item 3 - Controls and Procedures
                                                                           14
  Part II - Other Information
                                                                           15
     Item 1 - Legal Proceedings
                                                                           15
     Item 2 - Changes in Securities and Use of Proceeds
                                                                           15
     Item 3 - Defaults Upon Senior Securities
                                                                           15
     Item 4 - Submission of Matters to a Vote of Security Holders
                                                                           15
     Item 5 - Other Information
                                                                           16
     Item 6 - Exhibits and Reports Filed on Form 8-K
                                                                           16
  Signatures
                                                                           17
  Exhibit Index
                                                                           18
  Certification of Chief Executive Officer
                                                                           19
  Certification of Chief Financial Officer
                                                                           20
  Certification of Chief Executive Officer pursuant to U.S.C.
     Section 1350
                                                                           21
  Certification of Chief Financial Officer pursuant to U.S.C.
     Section 1350
                                                                           22

  <PAGE> 2
                         PART 1 - FINANCIAL INFORMATION
                         Item 1 - Financial Statements

                   CVD EQUIPMENT CORPORATION  AND SUBSIDIARY
                     Condensed Consolidated Balance Sheets
  <TABLE>
  <CAPTION>

                                                                  September 30,2004
                                                                    (Unaudited)          December 31, 2003
                                                                  -----------------      -----------------
  <S>                                                             <C>                    <C>
  ASSETS
  Current Assets:
    Cash and cash equivalents                                     $       396,945        $        321,490
    Accounts receivable, net                                            1,096,843               1,819,744
    Cost  in excess of billings on uncompleted contracts                    ---                   575,734
    Inventories                                                         2,391,691               1,425,851
    Other current assets                                                  111,446                  74,247

                                                                  -----------------      -----------------
   Total current assets                                                 3,996,925               4,217,066

  Property, plant and equipment, net                                    5,215,742               5,400,032
  Deferred income taxes                                                   440,362                 440,362
  Other assets                                                            300,051                 144,458
  Intangible assets, net                                                  112,913                 122,977

                                                                  -----------------      -----------------
                                                                  $    10,065,993        $     10,324,895
                                                                  =================      =================

  LIABILITIES AND STOCKHOLDERS' EQUITY
  Current Liabilities:
    Current maturities of long-term debt                          $       210,900        $        177,381
    Short-term notes payable                                              300,000                    ---
    Accounts payable                                                      513,366                 520,525
    Accrued expenses                                                      895,202                 488,011
    Billings in excess of costs on uncompleted contracts                    ---                   174,068
                                                                  -----------------      -----------------
    Total current liabilities                                           1,919,468               1,359,985

  Long-term debt, net of current portion                                3,183,539               3,336,400
                                                                  -----------------      -----------------
    Total liabilities                                                   5,103,007               4,696,385
                                                                  -----------------      -----------------

  Commitments and contingencies                                             ---                     ---

  Stockholders' Equity
    Common stock, par value  $.01 per share, authorized 10,000,000 shares;
    issued and outstanding, 3,039,100 shares                               30,391                  30,391
    Additional paid-in capital                                          2,902,149               2,902,149
    Retained earnings                                                   2,030,446               2,695,970
                                                                  -----------------      -----------------
                                                                        4,962,986               5,628,510
                                                                  -----------------      -----------------
                                                                  $    10,065,993        $     10,324,895
                                                                  =================      =================


  <FN>
                   See notes to the consolidated financial statements.
  </TABLE>
                                       2
  <PAGE> 3

                    CVD EQUIPMENT CORPORATION AND SUBSIDIARY
                Condensed Consolidated Statements of Operations
                                  (Unaudited)
  <TABLE>
  <CAPTION>

                                                       Three Months Ended                     Nine Months Ended
                                                         September 30                            September 30
                                                    2004                2003                2004                 2003
                                              ---------------     ---------------     ---------------     ----------------
  <S>                                         <C>                 <C>                 <C>                 <C>
  Revenue:
    Revenue on completed contracts            $     2,016,591     $     1,818,249     $     5,547,848     $      5,789,773
    Revenue on uncompleted contracts                 (387,276)            274,554               ---              1,954,621
                                              ---------------     ---------------     ---------------     ----------------
                                                    1,629,315           2,092,803           5,547,848            7,744,394
                                              ---------------     ---------------     ---------------     ----------------
  Costs of Revenue
    Cost on completed contracts                     1,421,722           1,187,164           3,930,543            4,669,633
    Cost on uncompleted contracts                    (264,310)            187,522               ---              1,229,617
                                              ---------------     ---------------     ---------------     ----------------
                                                    1,157,412           1,374,686           3,930,543            5,899,250
                                              ---------------     ---------------     ---------------     ----------------

  Gross profit                                        471,903             718,117           1,617,305            1,845,144
                                              ---------------     ---------------     ---------------     ----------------

  Operating expenses
    Selling and shipping                              179,425             163,339             489,118              589,254
    General and administrative                        578,733             620,529           1,647,420            1,746,942
                                              ---------------     ---------------     ---------------     ----------------
  Total operating expenses                            758,158             783,868           2,136,538            2,336,196

  Operating loss                                     (286,255)            (65,751)           (519,233)            (491,052)
                                              ---------------     ---------------     ---------------     ----------------

  Other income (expense)
    Interest income                                       173                 661                 518                  895
    Interest expense                                  (53,768)            (59,889)           (164,634)            (183,651)
    Other income                                       11,181              14,655              21,081              278,585
                                              ---------------     ---------------     ---------------     ----------------
  Total other (expense) income                        (42,414)            (44,573)           (143,035)              95,829

  Loss before income taxes                           (328,669)           (110,324)           (662,268)            (395,223)

  Income tax (provision) benefit                       (2,136)              1,853              (3,256)               1,853
                                              ---------------     ---------------     ---------------     ----------------

  Net loss                                    $      (330,805)    $      (108,471)    $      (665,524)    $       (393,370)
                                              ================    ================    ================    =================

  Basic loss per common share                 $         (0.11)    $         (0.04)              (0.22)               (0.13)
                                              ================    ================    ================    =================

  Diluted loss per common share               $         (0.11)    $         (0.04)              (0.22)               (0.13)
                                              ================    ================    ================    =================

  Weighted average common shares outstanding
      basic loss per share                          3,039,100           3,039,100           3,039,100            3,039,100

  Effect of potential common share issuance:
      Stock options                                     ---                 ---                 ---                  ---
                                              ---------------     ---------------     ---------------     ----------------

  Weighted average common shares outstanding
      diluted loss per share                        3,039,100           3,039,100           3,039,100            3,039,100
                                              ================    ================    ================    =================

  <FN>
                See notes to the condensed consolidated financial statements
  </TABLE>
                                       3
  <PAGE> 4
                    CVD EQUIPMENT CORPORATION AND SUBSIDIARY
                Condensed Consolidated Statements of Cash Flows
                                  (Unaudited)
  <TABLE>
  <CAPTION>
                                                                                              Nine Months Ended
                                                                                                 September 30
                                                                                           2004                   2003
                                                                                    -----------------      -----------------
  <S>                                                                               <C>                    <C>
  Cash flows from operating activities
    Net loss                                                                        $      (665,524)       $       (393,370)
    Adjustments to reconcile net loss to net cash used in operating activities:
    Deferred tax provision                                                                     -                     63,908
    Depreciation and amortization                                                           267,425                 270,696
    Bad debt provision                                                                       (5,427)                  9,282
    Changes in operating assets and liabilities:
    Accounts receivable                                                                     728,329                (181,804)
    Cost in excess of billings on uncompleted contracts                                     575,734                (408,988)
    Inventory                                                                              (965,840)                456,538
    Other current assets                                                                    (37,199)                104,846
    Other assets                                                                           (192,013)                (49,700)
     Accounts payable                                                                        (7,159)               (181,692)
     Accrued expenses                                                                       407,191                 246,468
     Billing in excess of costs on uncompleted contracts                                   (174,068)                (13,066)

                                                                                    -----------------      -----------------
  Net cash used in operating activities                                                     (68,551)                (76,882)
                                                                                    -----------------      -----------------

  Cash flows from investing activities:
       Capital expenditures                                                                 (36,651)                (56,205)

                                                                                    -----------------      -----------------
  Net cash used in investing activities                                                     (36,651)                (56,205)
                                                                                    -----------------      -----------------

  Cash flows from financing activities:
    Proceeds from short-term borrowings                                                     875,000                 876,000
    Payments of short-term borrowings                                                      (575,000)               (690,000)
    Proceeds from long-term debt                                                             26,460                     -
    Payments of long-term debt                                                             (145,803)               (131,802)

                                                                                    -----------------      -----------------
  Net cash provided by financing activities                                                 180,657                  54,198
                                                                                    -----------------      -----------------

  Net increase (decrease) in cash and cash equivalents                                       75,455                 (78,889)

  Cash and cash equivalents at beginning of period                                          321,490                 323,537
                                                                                    -----------------      -----------------
  Cash and cash equivalents at end of period                                        $       396,945           $     244,648
                                                                                    =================      =================

  <FN>
             See notes to condensed consolidated financial statements
  </TABLE>
                                       4
  <PAGE> 5
                    CVD EQUIPMENT CORPORATION AND SUBSIDIARY
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


  NOTE 1:     BASIS OF PRESENTATION

  The accompanying condensed consolidated financial statements include the
  accounts of CVD Equipment Corporation and its subsidiary ("the Company").
  All intercompany balances and transactions have been eliminated in
  consolidation.

  These unaudited, condensed consolidated financial statements have been
  prepared in accordance with generally accepted accounting principles for
  interim financial information and with the instructions to Form 10-QSB.
  Accordingly, they do not include all of the information and footnotes
  required by accounting principles generally accepted in the United States of
  America for complete financial statements. In the opinion of management, all
  adjustments (consisting of normal recurring accruals) considered necessary
  for a fair presentation have been included. The results of operations for
  any interim period are not necessarily indicative of the results of
  operations to be expected for the fiscal the year. For further information,
  refer to the consolidated financial statements and accompanying footnotes
  included in the Company's annual report on Form 10-KSB for the year ended
  December 31, 2003.

  NOTE 2:

  The accounting policies followed by the Company are set forth in Note 2 to
  the Company's financial statements in the December 31, 2003 Form 10-KSB.

  Revenue Recognition: The Company recognizes revenues and income using the
  percentage-of-completion method for complex major products while revenues
  from other products are recorded when such products are accepted and
  shipped. Profits on contracts for complex major products are recorded on the
  basis of the Company's estimates of the percentage-of-completion of
  individual contracts, commencing when progress reaches a point where
  experience is sufficient to estimate final results with reasonable accuracy.
  Under this method, revenues are recognized based on costs incurred to date
  compared with total estimated costs.

  The asset, "Costs and estimated earnings in excess of billings on
  uncompleted contracts," represents revenues recognized in excess of amounts
  billed.

  The liability, "Billings in excess of costs on uncompleted contracts"
  represents amounts billed in excess of revenues earned.


                                       5

  <PAGE> 6
                    CVD EQUIPMENT CORPORATION AND SUBSIDIARY
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


  NOTE 3:     UNCOMPLETED CONTRACTS
  <TABLE>
  <CAPTION>
  Costs, estimated earnings and billings on uncompleted contracts are summarized as follows:

                                                     September 30, 2004       December 31, 2003
                                                    --------------------     --------------------
  <S>                                               <C>                      <C>
  Costs incurred on uncompleted contracts            $        0               $       303,772
  Estimated earnings                                          0                       951,894
                                                    --------------------     --------------------
                                                              0                     1,255,666
  Billings to date                                            0                      (854,000)
                                                    --------------------     --------------------
                                                     $        0               $       401,666
                                                    --------------------     --------------------
  Included in accompanying balance sheets
    Under the following captions:

      Costs and estimated earnings in excess
          of billings on uncompleted contracts       $        0               $       575,734
      Billings in excess of costs and estimate
          earnings on uncompleted contracts                   0                      (174,068)
                                                    --------------------     --------------------
                                                     $        0               $       401,666
                                                    --------------------     --------------------
  </TABLE>
  At September 30, 2004 there were no jobs uncompleted under the percentage of
  completion method of accounting.

  NOTE 4:        INVENTORY
  <TABLE>
  <CAPTION>
  Inventories consist of the following:

                                                     September 30, 2004       December 31, 2003
                                                    --------------------     --------------------
  <S>                                               <C>                      <C>
  Raw materials                                      $     1,016,256          $       777,893
  Work-in-process                                            995,123                  108,350
  Finished goods                                             380,312                  539,608
                                                    --------------------     --------------------

                                                     $     2,391,691          $     1,425,851
                                                    --------------------     --------------------
  </TABLE>
  The Company has increased its inventory in anticipation of the production
  requirements needed to complete the Company's backlog as of September 30,
  2004.
                                       6

  <PAGE> 7
                    CVD EQUIPMENT CORPORATION AND SUBSIDIARY
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


  NOTE 5: BAD DEBTS

  The Company records an allowance for uncollectible amounts based on a
  review of the collectibility of its accounts receivable. Management
  determines the adequacy of this allowance by analyzing historical bad debts,
  continually evaluating individual customer's receivables and considering the
  customer's financial condition and current economic conditions. If the
  financial condition of the customers were to deteriorate, resulting in an
  impairment of their ability to make payments, additional allowances could be
  required.

  NOTE 6: SHORT TERM BORROWINGS
  <TABLE>
  <CAPTION>
                                                     September 30, 2004       December 31, 2003
                                                    --------------------     --------------------
  
                                               <c>                      <c>
                                                           $300,000                     $0
  </TABLE>

  The Company has a line of credit with a bank permitting the Company to
  borrow up to $1,000,000 which will be subject to renewal on June 1, 2005.
  Interest is payable on any unpaid principal balance at the bank's prime rate
  plus 3/4 of 1%. Borrowings are collateralized by the Company's assets

  NOTE 7: OTHER INCOME

  Other income for the three and nine months ended September 30, 2003 consists
  primarily of cash received on the collection of accounts receivable
  exceeding the amount booked as part of the purchase of assets of
  Conceptronic's Inc. Surface Mount Technology (SMT) business.

  NOTE 8: STOCK OPTION PLANS

  The Company accounts for the stock option plans under the recognition and
  measurement principles of APB Opinion No. 25, Accounting for Stock Issued to
  Employees, and related interpretations. The following table illustrates the
  effect on net income and earnings per share if the Company had applied the
  fair value recognition provisions of FASB Statement No. 123, accounting for
  Stock-based Compensation, to stock-based employee compensation.

                                       7

  <PAGE> 8
                    CVD EQUIPMENT CORPORATION AND SUBSIDIARY
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


  NOTE 8: STOCK OPTION PLANS (continued)
  <TABLE>
  <CAPTION>

                                                           Nine months ended September 30,
                                                            2004                     2003
                                                    --------------------     --------------------
  <S>                                               <C>                      <C>
  Net loss as reported                               $      (665,524)         $      (393,370)

  Add: Stock-based employee
  compensation expense included in
  reported net income, net of
  related tax effects                                          ---                      ---

  Deduct: Total stock-based employee
  compensation expense determined
  under fair value based method for
  all awards, net of related tax effects                     (72,532)                 (14,839)
                                                    --------------------     --------------------

  Pro forma net loss                                 $      (738,056)         $      (408,209)
                                                    --------------------     --------------------


  Loss per share:
         Basic-as reported                                $   (0.22)               $   (0.13)
                                                    --------------------     --------------------
         Basic-pro forma                                  $   (0.24)               $   (0.13)
                                                    --------------------     --------------------

         Diluted-as reported                              $   (0.22)               $   (0.13)
                                                    --------------------     --------------------
         Diluted-pro forma                                $   (0.24)               $   (0.13)
                                                    --------------------     --------------------
  </TABLE>

                                       8

  <PAGE> 9

                    CVD EQUIPMENT CORPORATION AND SUBSIDIARY
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
  NOTE 9: New Authoritative Pronouncements

  In January 2003, the FASB issued FASB Interpretation No. 46, Consolidation
  of Variable Interest Entities ("FIN 46"). FIN 46 clarifies the application
  of Accounting Research Bulletin No. 51, Consolidated Financial Statements,
  to certain entities in which equity investors do not have the
  characteristics of a controlling financial interest or do not have
  sufficient equity at risk for the entity to finance its activities without
  additional subordinated financial support from other parties. The Company is
  required to adopt the provision of FIN 46 for variable interest entities
  created after January 31, 2003. For variable interest entities created or
  acquired prior to February 1, 2003, the provisions of FIN 46 must be applied
  for the first interim or annual period beginning after December 15, 2003. In
  December 2003, the FASB issued Interpretation No. 46(R) ("FIN 46R") which
  revised certain provisions of FIN 46. Publicly reporting entities that are
  small business issuers must apply FIN 46R to all entities subject to FIN 46R
  no later than the end of the first reporting period that ends after December
  15, 2004 (as of December 31, 2004, for a calendar year enterprise). The
  effective date includes those entities to which FIN 46 had previously been
  applied. However, prior to the application of FIN 46R, a public entity that
  is a small business issuer shall apply FIN 46 or FIN 46R to those entities
  that are considered special-purpose entities no later than as of the end of
  the first reporting period that ends after December 15, 2003 (as of December
  31, 2003 for a calendar year enterprise). The Company does not expect the
  adoption of FIN 46 or FIN 46R to have a material effect on its consolidated
  financial position or results of operations.

                                       9

  <PAGE> 10
  Item 2. Management's Discussion and Analysis of Financial Condition and
  Results of Operations

  The following discussion and analysis should be read in conjunction with the
  consolidated financial statements and accompanying notes filed as part of
  this report.

  Except for historical information contained herein, this "Management's
  Discussion and Analysis of Financial Condition and Results of Operations"
  contains forward-looking statements within the meaning of the U.S. Private
  Securities Litigation Reform Act of 1995, as amended. These statements
  involve known and unknown risks, uncertainties and other factors which may
  cause the actual results, performance, or achievements of the Company to be
  materially different from any future results, performance, or achievements
  expressed or implied by such forward-looking statements. These forward-
  looking statements were based on various factors and were derived utilizing
  numerous important assumptions and other important factors that could cause
  actual results to differ materially from those in the forward-looking
  statements. Important assumptions and other factors that could cause actual
  results to differ materially from those in the forward-looking statements,
  include but are not limited to: competition in the Company's existing and
  potential future product lines of business; the Company's ability to obtain
  financing on acceptable terms if and when needed; uncertainty as to the
  Company's future profitability, uncertainty as to the future profitability
  of acquired businesses or product lines, uncertainty as to any future
  expansion of the Company. Other factors and assumptions not identified above
  were also involved in the derivation of these forward-looking statements and
  the failure of such assumptions to be realized as well as other factors may
  also cause actual results to differ materially from those projected. The
  Company assumes no obligation to update these forward looking statements to
  reflect actual results, changes in assumptions or changes in other factors
  affecting such forward-looking statements.

  Results of Operations

  Revenue for the three month period ended September 30, 2004 was $1,629,315
  compared to $2,092,803 for the three month period ended September 30, 2003,
  a decrease of approximately $463,000 or 22.1%. The Company is still
  experiencing the effects of an overall softness in the economy which has
  caused some existing and potential customers to either reduce or delay their
  capital expenditures which has negatively impacted the revenue generated
  from the manufacture of CVD and SDC equipment gas and chemical delivery
  systems. However, as reflected in the Company's backlog of $4,423,000 at
  September 30, 2004 which consists of all outstanding accepted purchase
  orders, and represents an increase of approximately $2,300,000 or 108.5%
  over the backlog at September 30, 2003, we have experienced an increase in
  orders during the current three month period. Although some re-engineering
  continues on the Conceptronic and Research International product lines, the
  Conceptronic division has experienced an increase in revenues during the
  current three month period.

                                       10

  <PAGE> 11
  Revenue for the nine months ended September 30, 2004 was $5,547,848, a
  decrease of $2,196,546 or 28.4% compared to the $7,744,394 of revenue
  achieved in the nine month period ended September 30, 2003.  This decrease
  can be attributed to higher revenues for the nine month period ending
  September 30, 2003 as a result of the Company's relocation of its corporate
  headquarters during the quarter ended December 31, 2002 which resulted in a
  slowdown in productivity. Products that would have been completed and
  shipped prior to December 31, 2002 were completed and shipped during the
  first three months of 2003 resulting in higher revenues for that nine month
  period. Additionally, revenues for the current nine month period ended
  September 30, 2004 have been adversely affected as a result of an overall
  softness in the economy which has caused some existing and potential
  customers to either reduce or delay their capital expenditures which has
  negatively impacted the revenue generated from the manufacture of CVD and
  SDC equipment gas and chemical delivery systems. The Company has also
  utilized this "slow" time to redesign and re-engineer some Conceptronic and
  Research International product lines into more cost effective and efficient
  systems enabling us to implement our marketing strategy to sell these
  products.

  The Company's gross profit decreased by approximately $246,000 to $471,903
  during the three months ended September 30, 2004 compared to the three
  months ended September 30, 2003.The gross profit margin decreased from 34.3%
  for the three month period ended September 30, 2003 to 29.0% for the current
  three month period. This decrease in the gross profit margin is attributable
  to a certain minimum level of fixed costs that the Company needs to
  maintain.

  The Company's gross profit decreased by $227,839 during the nine month
  period ended September 30, 2004 compared to the nine month period ended
  September 30, 2003, however the gross profit margin for the current nine
  month period was 29.2% compared to a gross profit margin of 23.8% for the
  same period one year ago. This increase in the gross profit margin is a
  result of the engineering and design modifications the Company has been able
  to make to the product line as well as cost reductions achieved by
  assimilating the Conceptronic division into the Company's mainstream.

  For the nine months ended September 30, 2004, the Company's selling and
  shipping expenses were approximately $489,000 which represents a decrease of
  approximately $100,000 or 17.0% compared to the approximately $589,000
  incurred during the nine months ended September 30, 2003. This is primarily
  a result of the reduction in the Company's sales force and the increased
  reliability placed on distributors in addition to the lower sales volume.

  The Company incurred approximately $579,000 of general and administrative
  expenses during the quarter ended September 30, 2004, a decrease of 6.7% or
  approximately $42,000 compared to the approximately $621,000 of general and
  administrative expenses incurred in the quarter ended September 30, 2003.
  This decrease is primarily the result of the elimination of building rent
  expense of approximately $42,000 associated with the Company's former
  headquarters.

                                       11

  <PAGE> 12
  General and administrative expenses for the nine months ended September 30,
  2004 were $1,647,420, representing a 5.7% decrease compared to approximately
  $1,747,000 for the nine months ended September 30, 2003. This decrease is
  primarily attributable to the higher than normal costs incurred during the
  nine months ended September 30, 2003 prior to the assimilation of
  Conceptronic into the Company mainstream.

  Interest expense for the three and nine months ended September 30, 2004
  decreased to approximately $54,000 and $165,000 respectively compared to
  approximately $60,000 and $184,000 for the three and nine months ended
  September 30, 2003, a reduction of 10.2% and 10.4% respectively, as a result
  of reduced borrowing by the Company on its short-term revolving credit line.

  Other income decreased by approximately $10,000 and $258,000 for the three
  and nine months ended September 30, 2004 compared to the same respective
  periods one year earlier. During the nine month period ended September 30,
  2003 the Company collected approximately $150,000 as an insurance
  reimbursement for legal fees, $42,000 in collections of accounts receivable
  in excess of the $369,000 recorded as part of the purchase of the assets of
  Conceptronic's Inc. Surface Mount Technology (SMT) business and $106,000 of
  accounts receivable in excess of the amount recorded as part of the purchase
  of the assets of Conceptronic's Inc. Surface Mount Technology (SMT)
  business. The Company did not receive any income from those sources during
  the current three and nine month period.

  Liquidity and Capital Resources

  As of September 30, 2004, the Company had an aggregate working capital of
  approximately $2,077,000 compared to an aggregate working capital of
  $2,857,000 at December 31, 2003 and had available cash and cash equivalents
  of $396,945 compared to $321,490 at December 31, 2003. The increase in cash
  is attributable to the utilization of the Company's line of credit with its
  bank.

  Accounts receivable as of September 30, 2004 was $1,096,843 compared to
  $1,819,744 as of December 31, 2003. This decrease is attributable to timing
  of customer payments and reduced billings.

  Anticipating the additional requirements necessitated by the Company's
  increased backlog as of September 30, 2004, the Company has increased its
  inventory by $965,840 or 67.7%, with the majority of the increase being in
  work-in process.

  As of September 30, 2004 the Company's backlog, which is comprised of all
  outstanding accepted purchase orders, increased to approximately $4,423,000
  from approximately $1,738,000 at December 31, 2003 and approximately
  $2,683,000 at June 30, 2004. During the


                                       12
  <PAGE> 13
  period ended September 30, 2004, the Company had received several orders in
  all three divisions, CVD, Conceptronic and SDC for which production had
  begun. The timing for completion of the backlog varies depending on the
  product mix, however, there is generally a one to six month lag in the
  completion and shipping of backlogged product.
  The Company has a line of credit facility with a bank permitting it to
  borrow up to $1,000,000 which will be subject to renewal on June 1, 2005.
  Interest is payable on any unpaid principal balance at the bank's prime rate
  plus 3/4 of 1%. As of September 30, 2004, $300,000 was outstanding on this
  facility. Borrowings are collateralized by the Company's assets.

  The Company believes that its cash, cash equivalents and available credit
  facilities will be sufficient to meet its working capital and investment
  requirements for the next twelve months. However, future growth, including
  potential acquisitions, may require additional funding, and from time to
  time the Company may need to raise capital through additional equity or debt
  financing.

  Critical Accounting Policies and Estimates

  Our consolidated financial statements are prepared in accordance with
  accounting principles generally accepted in the United States of America.
  These accounting principles require us to make certain estimates, judgments
  and assumptions. We believe that the estimates, judgments and assumptions
  upon which we rely are reasonable based upon information available to us at
  the time that these estimates, judgments and assumptions are made. These
  estimates, judgments and assumptions can affect the reported amounts of
  assets and liabilities as of the date of the financial statements, as well
  as the reported amounts of revenues and expenses during the periods
  presented. Among other things, estimates are used in accounting for
  allowances for bad debts, uncompleted contracts, deferred income taxes and
  revenue recognition. To the extent there are material differences between
  these estimates, judgments or assumptions and actual results, our financial
  statements will be affected. The significant accounting policies that we
  believe are the most critical to aid in fully understanding and evaluating
  our reported financial results include the following:

  Revenue Recognition: Revenue associated with complex major products is
  recognized utilizing the estimated percentage-of-completion method which
  measures progress towards completion of the project. Revisions in cost
  estimates and recognition of losses on these contracts are reflected in the
  accounting period in which the facts become known. The complexity of the
  estimation process and issues related to the assumptions, risks and
  uncertainties inherent with the application of the percentage of completion
  method of accounting affect the amounts of revenue and related expenses
  reported in our Consolidated Financial Statements. A number of internal and
  external factors can affect our estimates, including labor rates, parts
  costs and utilization and efficiency variances. We also derive revenue from
  other products which are recorded when such products are accepted and
  shipped.


                                       13


  <PAGE> 14
  Item 3. Controls and Procedures.

  Evaluation of Disclosure Controls and Procedures

  Based on their evaluation as of the end of the period covered by this Form
  10-QSB, our management, with the participation of our Chief Executive
  Officer and Chief Financial Officer, conducted an evaluation of the
  effectiveness of the design and operation of our disclosure controls and
  procedures, as required by Exchange Act Rule 13a-15. Based upon that
  evaluation, the Chief Executive Officer and Chief Financial Officer have
  concluded that our disclosure controls and procedures were effective to
  insure that information required to be disclosed by us in reports that we
  file or submit under the Exchange Act is recorded, processed, summarized and
  reported within the time periods specified by the SEC's rules and forms.

  Changes in Internal Controls

  There were no significant changes in the Company's internal controls over
  financial reporting that occurred during the quarter ended September 30,
  2004 that have materially affected, or are reasonably likely to materially
  affect, the internal controls over financial reporting.

  Limitations on the Effectiveness of Controls

  We believe that a control system, no matter how well designed and operated,
  cannot provide absolute assurance that the objectives of the control systems
  are met, and no evaluation of controls can provide absolute assurance that
  all control issues and instances of fraud, if any, within a company have
  been detected.

                                       14

  <PAGE> 15
                           CVD EQUIPMENT CORPORATION

                                    PART II

                               OTHER INFORMATION


  Item 1.         Legal Proceedings.

                       None.

  Item 2.         Changes in Securities and Use of Proceeds.

                       None.

  Item 3.         Defaults Upon Senior Securities

                       None.

  Item 4.         Submission of Matters to a Vote of Security Holders.

                  At our annual meeting of stockholders, which was held on
  September 8, 2004, our stockholders:

       (1) Elected five nominees for directors to serve for a term ending in
            2005;
       (2) Ratified the appointment of Albrecht, Viggiano, Zureck & Co. as our
            independent auditors and public accountants for the fiscal year
            ended 2004;
  <TABLE>
  <CAPTION>
            The following tables show the common stock votes cast with respect
            to the proposals identified above:

       Election of Directors:            For               Withheld Authority
                                    -------------          ------------------
       <S>                          <C>                    <C>
       Leonard A. Rosenbaum           2,657,435                 75,291
       Conrad J. Gunther              2,661,726                 71,000
       Martin J. Teitelbaum           2,660,726                 72,000
       Bruce T. Swan                  2,661,726                 71,000
       Alan H. Temple Jr.             2,660,726                 72,000

       Proposal 2:                       For         Against    Abstentions
                                    -------------   ---------   -----------
                                      2,730,726       2,000          0
  </TABLE>
                                       15

  <PAGE> 16
  Item 5.         Other Information.

                       None.

  Item 6.         Exhibits and Reports Filed on Form 8-K

                (a) Exhibits filed with this report:

  31.1 Certification of Chief Executive Officer

  31.2 Certification of Chief Financial Officer

  32.1 Certification of Chief Executive Officer pursuant to U.S.C. Section 1350

  32.2 Certification of Chief Financial Officer pursuant to U.S.C. Section 1350

       (b)        Reports on Form 8-K
                      None

                                       16

  <PAGE> 17
  SIGNATURES


  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned, thereunto duly authorized, this 12h day of November 2004.

                                          CVD EQUIPMENT CORPORATION

                                          By: /s/ Leonard A. Rosenbaum
                                              Leonard A. Rosenbaum
                                              Chief Executive Officer
                                              (Principal Executive Officer)

                                          By: /s/ Glen R. Charles
                                              Glen R. Charles
                                              Chief Financial Officer
                                              (Principal Financial and
                                               Accounting Officer)



                                       17

  <PAGE> 18
  EXHIBIT INDEX


  EXHIBIT
  NUMBER                          DESCRIPTION

  31.1      Certification of Chief Executive Officer *

  31.2      Certification of Chief Financial Officer *

  32.1      Certification of Chief Executive Officer pursuant to U.S.C.
            Section 1350 *

  32.2      Certification of Chief Financial Officer pursuant to U.S.C.
            Section 1350 *
  * Filed herewith



                                       18
  <PAGE> 19
                                                               Exhibit 31.1
  Certifications Pursuant to Rule 13A-14 or 15D-14 of the Securities Exchange
  Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
                                      2002

  I, Leonard A. Rosenbaum, certify that:
       1. I have reviewed this quarterly report on Form 10-QSB  of  CVD
            Equipment Corporation;

       2. Based on my knowledge, this report does not contain any untrue
            statement of a material fact or omit to state a material fact
            necessary to make the statements made, in light of the
            circumstances under which such statements were made, not
            misleading with respect to the period covered by this report;

       3. Based on my knowledge, the financial statements, and other financial
            information included in this report, fairly present in all
            material respects the financial condition, results of operations
            and cash flows of the registrant as of, and for, the periods
            presented in this report.

       4. The registrant's other certifying officer and I are responsible for
            establishing and maintaining disclosure controls and procedures
            (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the
            registrant and have:

            a. Designed such disclosure controls and procedures, or caused
                 such disclosure controls and procedures to be designed under
                 our supervision, to ensure that material information relating
                 to the registrant, including its consolidated subsidiaries,
                 is made known to us by others within those entities,
                 particularly during the period in which this report is being
                 prepared;
            b. Evaluated the effectiveness of the registrant's disclosure
                 controls and procedures and presented in this report our
                 conclusions about the effectiveness of the disclosure
                 controls and procedures, as of the end of the period covered
                 by this report based on such evaluation; and
            c. Disclosed in this report any change in the registrant's
                 internal control over financial reporting that occurred
                 during the registrant's most recent fiscal quarter (the
                 registrant's fourth fiscal quarter in the case of an annual
                 report) that has materially affected, or is reasonably likely
                 to materially affect, the registrant's internal control over
                 financial reporting; and

       5. The registrant's other certifying officer and I have disclosed,
            based on our most recent evaluation of internal control over
            financial reporting, to the registrant's auditors and the audit
            committee of the registrants' board of directors (or persons
            performing the equivalent functions):

            a. All significant deficiencies and material weaknesses in the
                 design or operation of internal control over financial
                 reporting which are reasonably likely to adversely affect the
                 registrant's ability to record, process, summarize and report
                 financial information; and
            b. Any fraud, whether or not material, that involves management or
                 other employees who have a significant role in the
                 registrant's internal control over financial reporting.


    Dated: November 12, 2004

     /s/ Leonard A. Rosenbaum
  ----------------------------------------
  President, Chief Executive Officer and Director

                                       19

  <PAGE> 20
                                                               Exhibit 31.2
  Certifications Pursuant to Rule 13A-14 or 15D-14 of the Securities exchange
  act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
                                      2002

  I, Glen R. Charles, certify that:
       1. I have reviewed this quarterly report on Form 10-QSB  of  CVD
            Equipment Corporation;

       2. Based on my knowledge, this report does not contain any untrue
            statement of a material fact or omit to state a material fact
            necessary to make the statements made, in light of the
            circumstances under which such statements were made, not
            misleading with respect to the period covered by this report;

       3. Based on my knowledge, the financial statements, and other financial
            information included in this report, fairly present in all
            material respects the financial condition, results of operations
            and cash flows of the registrant as of, and for, the periods
            presented in this report.

       4. The registrant's other certifying officer and I are responsible for
            establishing and maintaining disclosure controls and procedures
            (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) for the
            registrant and have:

            a. Designed such disclosure controls and procedures, or caused
                 such disclosure controls and procedures to be designed under
                 our supervision, to ensure that material information relating
                 to the registrant, including its consolidated subsidiaries,
                 is made known to us by others within those entities,
                 particularly during the period in which this report is being
                 prepared;
            b.  Evaluated the effectiveness of the registrant's disclosure
                 controls and procedures and presented in this report our
                 conclusions about the effectiveness of the disclosure
                 controls and procedures, as of the end of the period covered
                 by this report based on such evaluation; and
            c. Disclosed in this report any change in the registrant's
                 internal control over financial reporting that occurred
                 during the registrant's most recent fiscal quarter (the
                 registrant's fourth fiscal quarter in the case of an annual
                 report) that has materially affected, or is reasonably likely
                 to materially affect, the registrant's internal control over
                 financial reporting; and

       5. The registrant's other certifying officer and I have disclosed,
            based on our most recent evaluation of internal control over
            financial reporting, to the registrant's auditors and the audit
            committee of the registrants' board of directors (or persons
            performing the equivalent functions):

            a. All significant deficiencies and material weaknesses in the
                 design or operation of internal control over financial
                 reporting  which are reasonably likely to adversely affect
                 the registrant's ability to record, process, summarize and
                 report financial information; and
            b. Any fraud, whether or not material, that involves management or
                 other employees who have a significant role in the
                 registrant's internal controls over financial reporting.


    Dated: November 12, 2004

     /s/ Glen R. Charles
  ----------------------------------------
  Chief Financial Officer

                                       20
  <PAGE> 21
                                                               Exhibit 32.1

                  Certification of Principal Executive Officer
                        Pursuant to U.S.C. Section 1350
      As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002



  I, Leonard A. Rosenbaum, President and Chief Executive Officer of CVD
  Equipment Corporation, hereby certify, to my knowledge, that the quarterly
  report on Form 10-QSB for the period ending September 30, 2004 of CVD
  Equipment Corporation (the "Form 10-QSB") fully complies with the
  requirements of Section 13 (a) or 15 (d) of the Securities Exchange Act of
  1934 and the information contained in the Form 10-QSB fairly presents, in
  all material respects, the financial condition and results of operations of
  CVD Equipment Corporation as of and for the periods covered in this report.


  Dated: November 12, 2004      /s/   Leonard A. Rosenbaum
                                Leonard A. Rosenbaum
                                Chief Executive Officer
                                (Principal Executive Officer)


                                       21

  <PAGE> 22
                                                               Exhibit 32.2

                  Certification of Principal Financial Officer
                        Pursuant to U.S.C. Section 1350
      As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002



  I, Glen R. Charles, Chief Financial Officer of CVD Equipment Corporation,
  hereby certify, to my knowledge, that the quarterly report on Form 10-QSB
  for the period ending September 30, 2004 of CVD Equipment Corporation (the
  "Form 10-QSB") fully complies with the requirements of Section 13 (a) or 15
  (d) of the Securities Exchange Act of 1934 and the information contained in
  the Form 10-QSB fairly presents, in all material respects, the financial
  condition and results of operations of CVD Equipment Corporation as of and
  for the periods covered in this report.


  Dated: November 12, 2004        /s/  Glen R. Charles
                                  Glen R. Charles
                                  Chief Financial Officer
                                  (Principal Financial Officer)

                                       22