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    IVAC   US4611481080

INTEVAC, INC.

(IVAC)
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Intevac Photonics : Announces $16M IDIQ Contract for Apache Helicopter Program

10/04/2021 | 04:07pm EST

Intevac, Inc. (Nasdaq: IVAC) announced today it was awarded a five-year, firm-fixed-price, Indefinite-Delivery/Indefinite-Quantity (IDIQ) contract with a maximum value of $16.3 million for the continued production of night vision cameras for the Apache Helicopter's Modernized Pilot Night Vision Sensor (M-PNVS) program for the U.S. Army.

This contract, from the U.S. Army's PM Apache Office in Huntsville, Alabama, will provide cameras for new Apache Airframe builds, Foreign Military Sales (FMS) orders, and spares. This contract vehicle enables the U.S. Army to procure additional units through August 2026 at pre-negotiated pricing.

The Electronic Image Intensification camera is based on Intevac's patented EBAPS® (Electron Bombarded Active Pixel Sensor) digital imaging sensor for extreme low-light level detection.

“Intevac finished deliveries outfitting the U.S. Apache fleet, spares and initial FMS customer orders in September of 2020. We are excited to be delivering additional cameras to support our warfighters effort,” commented Timothy Justyn, executive vice president and general manager of Intevac Photonics. “Since becoming a Prime supplier in 2013, Intevac’s success in fielding cameras to the U.S. Army played a significant role in winning this business.”

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, size, and/or future funding of the IDIQ production contract. 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
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Financials (USD)
Sales 2021 65,1 M - -
Net income 2021 -18,7 M - -
Net Debt 2021 - - -
P/E ratio 2021 -6,25x
Yield 2021 -
Capitalization 118 M 118 M -
Capi. / Sales 2021 1,82x
Capi. / Sales 2022 1,15x
Nbr of Employees 266
Free-Float 96,8%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 4,81 $
Average target price 7,00 $
Spread / Average Target 45,5%
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Managers and Directors
Wendell Thomas Blonigan President, Chief Executive Officer & Director
James P. Moniz Chief Financial Officer, Treasurer & Executive VP
David S. Dury Chairman
Terry Bluck Vice President & CTO-Thin Film Equipment
Verle Aebi Chief Technology Officer-Photonics
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