<PAGE> 1

                     US SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                                  FORM 10-QSB

  (Mark One)

  (X) QUARTERLY REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES
       EXCHANGE ACT OF 1934
       For the quarterly period ended ____3-31-03_____

  ( ) TRANSITION REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE EXCHANGE ACT
       For the transition period from _______________ to ________________

       Commission file number _____________2-97210-NY____________________

                           CVD EQUIPMENT CORPORATION
       (Exact name of small business issuer as specified in its charter)

                                    NEW YORK
         (State or other jurisdiction of incorporation or organization)

                                   11-2621692
                      (IRS Employer Identification Number)

                  1860 SMITHTOWN AVENUE, RONKONKOMA, NY 11779
                    (Address of principal executive offices)

                                  631-981-7081
                           (Issuers Telephone Number)

     (Former name, former address, and former fiscal year, if changed since
                                  last report)


       Check whether the issuer (1) filed all reports required to be filed by
  section 13 or 15 (d) of the Exchange Act during the past 12 months (or for
  such shorter periods 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


  APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE
  PRECEDING FIVE YEARS
       Check whether the registrant filed all documents and reports required
  to be filed by Section 12, 13 or 15 (d) of the Exchange Act after the
  distribution of securities under a plan confirmed by a court.
       Yes          No

  APPLICABLE ONLY TO CORPORATE ISSUERS
       State the number of shares outstanding of each of the issuer's classes
  of common equity, as of the latest practicable date:

  3,039,100 SHARES OF COMMON STOCK, $.01 PAR VALUE AS OF 5-14-03


  <PAGE> 2

                           CVD EQUIPMENT CORPORATION
                          NOTE TO FINANCIAL STATEMENTS
                             FOR THE QUARTER ENDING
                                 MARCH 31, 2003

                         BASIS OF FINANCIAL STATEMENTS



  The financial data is subject to year end audit and does not claim to be a
  complete presentation since note disclosure under generally accepted
  accounting procedures is not included.  Note disclosures required under
  generally accepted accounting procedures are included in the Company's
  audited financial statements filed as part of Form 10-KSB for the year ended
  December 31, 2002.  Form 10-QSB should be read in conjunction with these
  financial statements.

  The results of operations for the three months are not necessarily
  indicative of those for the full year.  In the opinion of management, the
  accompanying unaudited financial statements contain all adjustments
  necessary to fairly present the financial position and the results of
  operation for the periods indicated.


  <PAGE> 3
                            MANAGEMENT'S DISCUSSION

  INTRODUCTION
  Statements contained in this Report on Form 10-QSB that are not historical
  facts are forward-looking statements within the meaning of Section 21E of
  the Securities Exchange Act of 1934, as amended, including without
  limitation, statements regarding industry trends, strategic business
  development, pursuit of new markets, competition, results from operations,
  and are subject to the safe harbor provisions created by that statute.  A
  forward-looking statement may contain words such as "intends", "plans",
  "anticipates", "believes", "expect to", or words of similar import.
  Management cautions that forward-looking statements are subject to risks and
  uncertainties that could cause the Company's actual results to differ
  materially from those projected.  These risks and uncertainties include, but
  are not limited to, marketing success, product development, production,
  technological difficulties, manufacturing costs, and changes in economic
  conditions in the markets the Company serves.  The Company undertakes no
  obligation to release revisions to forward-looking statements to reflect
  subsequent events, changed circumstances, or the occurrence of unanticipated
  events.


  FORWARD LOOKING STATEMENTS
  Certain statements in this Management's Discussion and Analysis of Financial
  Condition and Results of Operations constitute "forward looking statements"
  within the meaning of the Private Securities Litigation Reform Act of 1995.
  Such forward looking 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.

  REVENUE RECOGNITION
  CVD recognizes and identifies on its financial statements, revenue on a
  percent complete methodology for contracts falling under SOP 81-1 and
  recognizes revenues on a completed contract methodology for contracts
  falling under SAB 101. CVD feels this is the most accurate and consistent
  methodology to meet the requirements of the two regulations.


  <PAGE> 4
  <TABLE>
  <CAPTION>

                             CVD EQUIPMENT CORPORATION  AND SUBSIDIARY
                                    CONSOLIDATED BALANCE SHEETS

                                                                      MARCH 31      DECEMBER 31
                                                                        2003            2002
                                                                    (UNAUDITED)      (AUDITED)
                                                                    ------------    ------------
  <S>                                                               <C>             <C>
  ASSETS
  Current Assets
    Cash and cash equivalents                                       $   371,708     $   323,537
    Accounts receivable, net                                          2,500,692       1,852,794
    Cost  in excess of billings on ucompleted contracts                 947,906         783,646
    Inventories                                                       1,640,221       2,023,487
    Other current assets                                                232,833         194,232
                                            Total Current Assets      5,693,360       5,177,696
  Property, Plant and Equipment, net                                  5,592,732       5,630,375
  Deferred Income Taxes                                                 344,074         344,074
  Other Assets                                                          153,043         138,974
  Intangible Assets, net                                                133,038         136,393
                                                    Total Assets    $11,916,247     $11,427,512


  LIABILITIES AND STOCKHOLDERS' EQUITY
  Current Liabilities
    Accounts payable                                                $ 1,377,569     $   938,056
    Accrued expenses                                                    497,241         336,702
    Billings in excess of costs on uncompleted contracts                    -           146,387
    Short-term notes payable                                            350,000         350,000
    Short-term borrowings                                                50,000             -
    Current maturities of long-term debt                                179,907         177,124
                                       Total Current Liabilities      2,454,717       1,948,269
  Long-term Debt, net of current portion                              3,467,748       3,513,783
                                               Total Liabilities      5,922,465       5,462,052

  Commitments and Contingencies
  Stockholders' Equity
    Common stock - $0.01 par value -10,000,000 shares authorized;
    3,039,100 shares issued & outstanding                                30,391          30,391
    Additional paid-in capital                                        2,902,149       2,902,149
    Retained earnings                                                 3,061,242       3,032,920
                                      Total Stockholders' Equity      5,993,782       5,965,460
                      Total Liabilities and Stockholders' Equity    $11,916,247     $11,427,512
  </TABLE>


  <PAGE> 5
  <TABLE>
  <CAPTION>

                             CVD EQUIPMENT CORPORATION  AND SUBSIDIARY
                                 CONSOLIDATED STATEMENTS OF INCOME


                                                                         THREE MONTHS ENDED
                                                                              MARCH 31

                                                                        2003            2002
                                                                    (UNAUDITED)      (AUDITED)
                                                                    ------------    ------------
  <S>                                                               <C>             <C>
  Revenue
    Revenue on completed contracts                                  $ 2,530,781     $ 1,215,023
    Revenue on uncompleted contracts                                  1,096,356         674,896
                                                   Total Revenue      3,627,137       1,889,919
  Costs of Revenue
    Cost on completed contracts                                       2,130,790         931,667
    Cost on uncompleted contracts                                       523,495         317,649
                                         Total Costs of Revenues      2,654,285       1,249,316

                                                    Gross Profit        972,852         640,603
  Operating Expenses
    Selling and shipping                                                353,993         175,402
    General and administrative                                          580,498         494,226
                                        Total Operating Expenses        934,491         669,628
                                          Operating Income(Loss)         38,361         (29,025)
  Other Income (Expense)
    Interest income                                                         124           9,828
    Interest expense                                                    (62,969)        (23,002)
    Gain on sale of fixed assets                                            -             2,500
    Other income                                                         67,976          16,488
                                              Total Other Income          5,131           5,814

                                       Income(Loss) Before Taxes         43,492         (23,211)
  Income Tax Provision(Benefit)                                         (15,170)              9
                                                Net Income(Loss)         28,322         (23,202)


  Earnings Per Share
    Basic                                                           $     0.01      $    (0.01)
    Diluted                                                         $     0.01      $    (0.01)

  Weighted Average Shares
    Basic                                                             3,039,100       3,032,325
    Diluted                                                           3,050,228       3,209,801
  </TABLE>


  <PAGE> 6
  <TABLE>
  <CAPTION>

                             CVD EQUIPMENT CORPORATION  AND SUBSIDIARY
                               CONSOLIDATED STATEMENTS OF CASH FLOWS

                                                                                           THREE MONTHS ENDED
                                                                                                MARCH 31

                                                                                          2003            2002
                                                                                      (UNAUDITED)      (AUDITED)
                                                                                      ------------    ------------
  <S>                                                                                 <C>             <C>
  CASH Flows from Operating Activities
    Net Income(Loss)                                                                  $    28,322     $   (23,202)
    Adjustments to reconcile net income to net cash provided by operating activities:
    Depreciation and amortization                                                          90,221          66,976
    Gain on sale of fixed assets                                                              -            (2,500)
    Bad debt provision                                                                     (3,311)         (2,047)
   (Increase) decrease in:
    Accounts receivable                                                                  (644,588)        (24,140)
    Cost in excess of billings on uncompleted contracts                                  (164,260)        (31,533)
    Inventory                                                                             383,266          25,866
    Other current assets                                                                  (38,599)        (55,478)
    Other assets                                                                          (24,095)        217,181
    Increase (decrease) in:
     Accounts payable                                                                     439,516          55,557
     Accrued expenses                                                                     160,537         (93,144)
     Billing in excess of costs on uncompleted contracts                                 (146,387)         11,632

                 Net Cash Provided By Operating Activities                                 80,622         145,168

  Cash Flows from Investing Activities
       Capital expenditures                                                               (39,200)       (602,874)
       Proceeds from sale of fixed assets                                                     -             2,500

                                             Net Cash Used in Investing Activities        (39,200)       (600,374)

  Cash Flows from Financing Activities
       Proceeds from short-term borrowings                                                 50,000             -
       Payments of long-term debt                                                         (43,251)        (16,284)

                                  Net Cash Provided (Used) By Financing Activities          6,749         (16,284)

                               Net Increase(Decrease) in Cash and cash Equivalents         48,171        (471,490)

                         Cash and Cash Equivalents at the Beginning of the Quarter        323,537       2,361,150

                               Cash and Cash Equivalents at the End of the Quarter    $   371,708     $ 1,889,660

  </TABLE>


  <PAGE> 7
           ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                       THREE MONTHS ENDED MARCH 31, 2003

  REVENUE
  An increase in volume resulted in first quarter of 2003 revenue being
  $3,627,137, a  92% increase from first quarter of 2002 revenue of
  $1,889,919.

  COSTS AND EXPENSES
  The cost of revenue increased to $2,654,285 in first quarter of 2003 as
  compared to $1,249,316 in first quarter of 2002. Of this $1,404,969
  increase, approximately $1,070,000 is attributed to material, $9,000 to
  freight in, $183,000 to salaries, $24,000 to utilities and  $18,000 to real
  estate taxes.

  Selling and shipping expenses increased to $353,993 in first quarter of 2003
  from  $175,402 in first quarter of 2002. Of this $178,591 increase,
  approximately $155,000  is attributed to commissions and $31,000 to freight
  out expense, which is offset by a decrease of $10,000 to advertising
  expense.

  General and Administrative expenses increased to $580,498 in first quarter
  of 2003 from $494,226 in first quarter of 2002. Of this $86,272 increase,
  approximately   $90,000 to salaries, $5,000 to travel expense and $6,300 to
  depreciation, which is offset by a decrease of $7,600 to legal fees and
  $9,300 to consulting fees.

  Interest expense increased by $39,967 from $23,002 in first quarter of 2002
  to $62,969 in first quarter of 2003, because the company's average
  outstanding debt increased, as a result of the mortgage on the new building
  purchased in March 2002.

  Other income increased by $51,488 from first quarter of 2002 to first
  quarter of 2003. Of this increase, $64,000 is attributed to collection of
  accounts receivable exceeding the $369,000 booked as part of the purchase of
  the assets.



  LIQUIDITY AND CAPITAL RESOURCES

  By the end of the first quarter of 2003, the Company's cash position
  increased to $371,708 from $323,537 at the beginning of the year. The
  increase in cash is mainly attributed to the daily operating activities.

  At the end of the first quarter of 2003, the Company's account receivable
  position increased to $2,500,692 from $ 1,852,794 at the beginning of the
  year. This increase was attributable to timing of customer payments and
  billings.

  At the close of the first quarter of 2003, the Company's backlog decreased
  to approximately $1,827,563 from approximately $3,816,877 at the beginning
  of the year. This decrease is mainly attributed to shipments delayed from
  the fourth quarter of 2002 to the first quarter of 2003. This delay resulted
  from the reduction in productivity of the CVD and Conceptronic divisions due


  <PAGE> 8
  to their relocation to the new facility in the fourth quarter of 2002.

  The Company believes that its cash and cash equivalents, cash flow from
  operations 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.


  <PAGE> 9



  SIGNATURES


  Pursuant to the requirements of Section 13 or 15 (d) 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
  14th day of May 2003.

                           CVD EQUIPMENT CORPORATION

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


  Pursuant to the requirements of the Securities and Exchange Act of 1934,
  this report signed below by the following persons on behalf of the
  Registrant and in the capacities and on the dates indicated.


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




  /s/ Sharon Canese            Chief Financial Officer and Secretary
  Sharon Canese


  <PAGE> 10
  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 upon my knowledge, this quarterly 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 quarterly
            report.

       3. Based upon my knowledge, the financial statements, and other
            financial information included in this quarterly 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 quarterly report.

       4. The registrant's other certifying officers and I are responsible for
            establishing and maintaining disclosure controls and procedures
            (as defined in Exchange Act Rules 13a-14 and 15d-14) for the
            registrant and have:

            a. Designed such disclosure controls and procedures 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 quarterly report is being prepared;
            b. Evaluated the effectiveness of the registrant's disclosure
                 controls and procedures as of a date within 90 days prior to
                 the filing date of this quarterly report (the "Evaluation
                 Date"); and
            c. Presented in this quarterly report our conclusions about the
                 effectiveness of the disclosure controls and procedures based
                 on our evaluation as of the Evaluation Date.

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

            a. All significant deficiencies in the  design or operation of
                 internal controls which could adversely affect the
                 registrant's ability to record, process, summarize and
                 report financial data and have identified for the
                 registrant's auditors any material weakness in internal
                 controls; 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.

       6. The registrant's other certifying officer and I have indicated in
            this quarterly report whether or not there were significant
            changes in internal controls or in other factors that could
            significantly affect internal controls subsequent to the date of
            our most recent evaluation, including any corrective actions with
            regard to significant deficiencies and material weaknesses.

    Dated: May 14, 2003

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

  <PAGE> 11
  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, Sharon Canese, certify that:

       1. I have reviewed this quarterly report on Form 10-QSB  of  CVD
            Equipment Corporation;

       2. Based upon my knowledge, this quarterly 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 quarterly
            report.

       3. Based upon my knowledge, the financial statements, and other
            financial information included in this quarterly 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 quarterly report.

       4. The registrant's other certifying officers and I are responsible for
            establishing and maintaining disclosure controls and procedures
            (as defined in Exchange Act Rules 13a-14 and 15d-14) for the
            registrant and have:

            a. Designed such disclosure controls and procedures 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 quarterly report is being prepared;
            b.  Evaluated the effectiveness of the registrant's disclosure
                 controls and procedures as of a date within 90 days prior to
                 the filing date of this quarterly report (the "Evaluation
                 Date"); and
            c. Presented in this quarterly report our conclusions about the
                 effectiveness of the disclosure controls and procedures based
                 on our evaluation as of the Evaluation Date.

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

            a. All significant deficiencies in the  design or operation of
                 internal controls which could adversely affect the
                 registrant's ability to record, process, summarize and
                 report financial data and have identified for the
                 registrant's auditors any material weakness in internal
                 controls; 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.

       6. The registrant's other certifying officer and I have indicated in
            this quarterly report whether or not there were significant
            changes in internal controls or in other factors that could
            significantly affect internal controls subsequent to the date of
            our most recent evaluation, including any corrective actions with
            regard to significant deficiencies and material weaknesses.

    Dated: May 14, 2003

     /s/ Sharon Canese
  ----------------------------------------
  Chief Financial Officer and Secretary