Intevac, Inc. Provides Earnings Guidance for the Third Quarter and Full Year 2023
August 02, 2023 at 04:30 pm EDT
Share
Intevac, Inc. provided earnings guidance for the third quarter and full year 2023. For the quarter, the company expected revenue in the range of $12 million to $13 million, a net loss in the range of $0.13 to $0.15 per share based on 26 million shares outstanding and interest income of about $400,000.
For the full year, the company expected revenues to be approximately $44 million, up 23% from last year.
Intevac, Inc. is a provider of thin-film process technology and manufacturing platforms for high-volume manufacturing environments. The Company operates through a single segment, which is Thin Film Equipment (TFE). The TFE segment designs, develops and markets vacuum process equipment solutions for high-volume manufacturing of small substrates with precise thin-film properties, such as for the hard disk drive (HDD) and advanced coatings (ADVC) markets, as well as other adjacent thin-film markets. In HDD Equipment Market, it designs, manufactures, markets and services complex capital equipment used to deposit thin films and lubricants onto substrates to produce magnetic disks. In ADVC Market, the Company develops equipment to deposit optically transparent thin films onto display cover panels typically found on consumer and automotive electronics products. Its products include 200 Lean Disk Sputtering System, TRIO, and upgrades, spares, consumables and services (non-systems business).
INTEVAC, INC. 
