Intevac, Inc. Provides Revenue Guidance for the Fourth Quarter and Full Year 2023
November 01, 2023 at 04:30 pm EDT
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Intevac, Inc. provided revenue guidance for the fourth quarter and full year 2023. For the quarter, the company projecting revenues in the range of $9.5 million to $11 million, which at the midpoint equates to full year revenues of $50 million.
For the full year, the company's revenue outlook has likewise improved by about 14% from earlier expectations in August of a $44 million revenue year to now current expectation that will achieve around $50 million of revenue for 2023.
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. 
