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    IVAC   US4611481080

INTEVAC, INC.

(IVAC)
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Delayed Nasdaq  -  05/20 04:00:01 pm EDT
5.090 USD   +1.60%
05/19INTEVAC INC : Change in Directors or Principal Officers, Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits (form 8-K)
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05/19Intevac Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
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05/10INTEVAC INC Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q)
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Intevac : Announces $10 Million in New Orders for HDD Technology Upgrades

06/14/2021 | 09:04am EDT

Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, today announced the receipt of $10 million in new orders for technology upgrades for its hard disk drive (HDD) customers. Scheduled to be completed by year-end, these upgrades provide new and enhanced technologies to enable Intevac’s customers to continue to progress along their media technology roadmaps.

“This order reflects our ongoing partnerships with our customers and the increasing demand for the industry’s most advanced media technology,” said Jay Cho, executive vice president and general manager of Intevac’s Thin-film Equipment (TFE) business.

As the new orders announced today were previously anticipated, the expected revenues for these upgrades are already reflected in the Company’s 2021 TFE forecast provided as of the May 3rd, 2021 conference call.

About Intevac

Intevac was founded in 1991 and has two businesses: Thin-film Equipment and Photonics.

In our Thin-film Equipment business, we are a leader in the design and development of high-productivity, thin-film processing systems. Our production-proven platforms are designed for high-volume manufacturing of substrates with precise thin film properties, such as the hard drive media, display cover panel, solar photovoltaic, and advanced semiconductor packaging markets we serve currently.

In our Photonics business, we are a recognized leading developer of advanced high-sensitivity digital sensors, cameras and systems that primarily serve the defense industry. We are the provider of integrated digital imaging systems for most U.S. military night vision programs.

For more information call 408-986-9888, or visit the Company's website at www.intevac.com.

Forward-Looking Statements

This press release includes statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Intevac claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,“ “projects,” “expects,” or “anticipates,” and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to; the timing of the HDD upgrades. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the company’s expectations. These risks include, but are not limited to: the failure to meet planned shipment dates, which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the Company’s periodic filings with the U.S. Securities and Exchange Commission.


© Business Wire 2021
All news about INTEVAC, INC.
05/19INTEVAC INC : Change in Directors or Principal Officers, Submission of Matters to a Vote o..
AQ
05/19Intevac Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
BU
05/10INTEVAC INC Management's Discussion and Analysis of Financial Condition and Results ..
AQ
05/09INTEVAC : Q1 Earnings Snapshot
AQ
05/09TRANSCRIPT : Intevac, Inc., Q1 2022 Earnings Call, May 09, 2022
CI
05/09Earnings Flash (IVAC) INTEVAC Reports Q1 Revenue $4.4M, vs. Street Est of $4M
MT
05/09Earnings Flash (IVAC) INTEVAC Reports Q1 Loss $-0.20
MT
05/09Intevac Announces First Quarter 2022 Financial Results
BU
05/09Intevac, Inc. Reports Earnings Results for the First Quarter Ended April 02, 2022
CI
05/02Intevac Says it Has Received an $11 Million Order for its 200 Lean Hard Disk Drive Syst..
MT
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Analyst Recommendations on INTEVAC, INC.
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Financials (USD)
Sales 2022 35,4 M - -
Net income 2022 -16,7 M - -
Net Debt 2022 - - -
P/E ratio 2022 -7,60x
Yield 2022 -
Capitalization 128 M 128 M -
Capi. / Sales 2022 3,60x
Capi. / Sales 2023 1,86x
Nbr of Employees 148
Free-Float 79,8%
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 5,09
Average target price
Spread / Average Target -
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Managers and Directors
Nigel Hunton President, Chief Executive Officer & Director
James P. Moniz Chief Financial Officer, Secretary & Treasurer
David S. Dury Chairman
Verle Aebi Chief Technology Officer-Photonics
Kevin D. Barber Independent Director
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