During the course of this presentation, we will comment upon future events and may make projections about our future financial performance, including statements related to strategies, our expected sales, product shipments and acceptance, gross margin, operating expense, profit, cash flow, income tax expense, and capital allocation. We will discuss our business strategy, our products, the markets our products address, our position in those markets, expected market acceptance of those products and production capacity.
We wish to caution you that these are forward looking statements that are based upon our current expectations, and that actual results could differ materially as a result of various risks and uncertainties, including, without limitation, the following: inability to develop and deliver new products as planned; inability to accurately forecast the demand for our products and services; the possibility that orders in backlog may be cancelled, delayed or rescheduled; inability to achieve gross margin and expense goals; and other risk factors discussed in documents filed by us with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
We undertake no obligation to update the forward-looking statements made during this presentation.
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A TRANSFORMED COMPANY
WITH STRONG GROWTH AHEAD
Intevac has undergone a year of profound change
New visionary leadership following the appointment of Nigel Hunton as CEO in January 2022
A significantly strengthened management team supported by a strong board of directors; currently enhancing and developing our commercial team
Gaining share of worldwide HDD media market with 12-year-record high orders, backlog, and visibility
Announced a transformational partnership to deploy TRIO™ for consumer electronics applications
2024 expected to be first full year of profitable results
Our strong cash balance supports the growth trajectory ahead
A transformed company, with a strong growth story
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ENABLING TECHNOLOGY THROUGH THIN-FILM DEPOSITION
Intevac is a global supplier for hard disk drive (HDD) manufacturing and a key enabler of process advancement.
~65% market share of worldwide media capacity - currently expanding share through technology upgrades (immediate term) and capacity additions (longer term).
We are a customer-focused industry leader with people and products that are deeply embedded with HDD suppliers.
20+ year relationships with these customers.
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ENABLING TECHNOLOGY THROUGH THIN-FILM DEPOSITION
Experts in materials science who create world-leading, highly precise and durable coatings
30 years of HDD media leadership and experience
Recent development of a significant industry partnership with the industry leader in display glass for the consumer electronics market (December 2022).
Led by a highly experienced management team with a vision and strategy to deliver growth.
A culture of innovation and execution, with our new product development focused on expanding into attractive new growth markets that leverage our core expertise.
120+ patents issued or pending.
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Intevac Inc. published this content on 01 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2023 21:18:20 UTC.
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).