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Intevac Inc - IVAC STOCK NEWS

Welcome to our dedicated page for Intevac news (Ticker: IVAC), a resource for investors and traders seeking the latest updates and insights on Intevac stock.

Intevac Inc. was founded in 1991 and operates two primary business segments: Equipment and Photonics.

Equipment Business: Intevac is a leader in the design and development of high-productivity, thin-film processing systems. These systems are engineered for high-volume manufacturing of substrates with precise thin-film properties. Notably, Intevac holds a significant market share in the hard drive industry, with approximately 60% of all magnetic disk media produced worldwide utilizing their technology. Their solutions are known for enhancing performance and throughput. In addition, Intevac is expanding its reach into other markets, including solar and adjacent thin-film deposition applications.

Photonics Business: In the photonics sector, Intevac is a recognized leader in developing advanced high-sensitivity digital sensors, cameras, and systems. Their primary clientele includes the defense industry, where Intevac serves as the sole provider of integrated digital imaging systems for most U.S. military night vision programs.

Geographically, the majority of Intevac's revenue is generated from Asia, reflecting its strong presence in this key market.

Intevac's continued innovation and robust partnerships underscore its significance in the industries it serves, making the company a pivotal player in both high-tech manufacturing and defense sectors.

Latest News:

  • SANTA CLARA, Calif.--(BUSINESS WIRE)-- [Latest Update]
News

Intevac Announces First Quarter 2024 Financial Results

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Intevac, Inc. (IVAC) announced its first quarter 2024 financial results, showcasing strong demand for HDD technology upgrades with sales of nearly $10 million and gross margin of 44%. New orders exceeded $20 million, including initial HAMR upgrade orders. The company resolved payment terms with a major customer and shipped an initial TRIO system to a display cover glass facility in Asia. Total cash, restricted cash, and investments stood at $65 million. Q1 revenues were $9.6 million, with a net loss of $1.6 million. Backlog was $53.1 million, and the company ended the quarter with $65.5 million in cash and $114.0 million in tangible book value.
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Intevac Announces Earlier Release Date of Thursday, April 25th for First Quarter 2024 Results

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Intevac, Inc. (IVAC) has rescheduled the release of its first-quarter 2024 financial results to Thursday, April 25th, 2024, due to management travel commitments. The company will host a teleconference at 8:30 a.m. EDT to discuss the results.
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Intevac to Announce First Quarter 2024 Results on April 29th

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Intevac, Inc. (IVAC) will announce its fiscal first quarter 2024 financial results on April 29th, followed by a teleconference to discuss the results. Investors can participate via phone or webcast.
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Intevac Announces Fourth Quarter and Full Year 2023 Financial Results

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Intevac, Inc. (IVAC) reported strong financial results for the fiscal fourth quarter and year ended December 30, 2023. The Q4 sales of $12.9 million exceeded expectations due to the acceleration of heat-assisted magnetic recording technology upgrades for hard disk drive customers. The total revenues of $52.7 million for fiscal 2023 represented very strong growth of 47% year-over-year. The company ended 2023 with $72.2 million in cash, restricted cash, and investments, slightly below forecast due to delayed collections from their largest customer.
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Intevac to Announce Fourth Quarter and Fiscal Year 2023 Results on February 5th

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Intevac, Inc. (IVAC) will release its fiscal fourth quarter and full year 2023 financial results on February 5th, 2024. A teleconference will be held to discuss the results, and participants can join via phone or live webcast.
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Intevac Announces Successful Qualification of TRIO™ System

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Intevac, Inc. (Nasdaq: IVAC) has successfully completed the qualification of its first TRIO™ system within the initial 12 months of the partnership agreement with Corning. The development program's success and achievement of qualification before year-end 2023 demonstrate the tireless efforts of the entire Intevac team. The TRIO system is expected to bring in the company's first revenues in fiscal 2024, representing significant potential for future revenue growth with an estimated $1 billion served market.
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Intevac Announces Participation in 12th Annual NYC Summit

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Intevac, Inc. (IVAC) Announces Participation in the 12th Annual NYC Summit for Thin-Film Processing Systems
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Intevac Announces Third Quarter 2023 Financial Results

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Intevac, Inc. (Nasdaq: IVAC) reported Q3 2023 financial results well above expectations, driven by media technology upgrade initiatives in the HDD industry. The company expects an increase in total cash balance by year-end, within the range of $75 to $80 million. Intevac entered the qualification cycle for its TRIO platform with JDA partner Corning Incorporated, which represents significant potential for future revenue growth. The recently completed restructuring process is expected to improve operating performance and preserve the balance sheet strength.
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Intevac to Announce Third Quarter 2023 Results on November 1st

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Intevac, Inc. to release financial results for fiscal third quarter 2023
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Intevac Announces Second Quarter 2023 Financial Results

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FAQ

What is the current stock price of Intevac (IVAC)?

The current stock price of Intevac (IVAC) is $3.26 as of December 20, 2024.

What is the market cap of Intevac (IVAC)?

The market cap of Intevac (IVAC) is approximately 87.7M.

What does Intevac Inc. specialize in?

Intevac Inc. specializes in high-productivity thin-film processing systems and high-sensitivity digital sensors, particularly for the defense industry.

What are the primary business segments of Intevac Inc.?

Intevac Inc. operates in two primary segments: Equipment and Photonics.

What industries does Intevac serve?

Intevac serves the hard disk drive, display cover panel, solar, and defense industries.

What is Intevac's market share in the hard drive industry?

Intevac holds approximately 60% of the market share in the hard disk drive industry.

Where does Intevac generate most of its revenue?

The majority of Intevac's revenue is generated from Asia.

What are some of Intevac's latest achievements?

Intevac continues to innovate in thin-film processing systems and expand into new markets such as solar. They also maintain a strong presence in the defense sector with advanced digital imaging systems.

Who are Intevac's primary clients in the photonics business?

Intevac primarily serves the U.S. military and defense industry in its photonics business.

What products does Intevac offer in the photonics sector?

Intevac offers advanced high-sensitivity digital sensors, cameras, and integrated digital imaging systems in the photonics sector.

How does Intevac contribute to the defense industry?

Intevac supplies integrated digital imaging systems for night vision programs, serving as a sole source provider for most U.S. military applications.

What is Intevac's role in the solar industry?

Intevac has previously designed, developed, and marketed manufacturing equipment for the photovoltaic solar cell industry.

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Intevac Inc

Nasdaq:IVAC

IVAC Rankings

#4502 Ranked by Market Cap
N/A Ranked by Dividends

IVAC Stock Data

87.66M
25.89M
4.03%
67.03%
0.5%
Specialty Industrial Machinery
Special Industry Machinery, Nec
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United States of America
SANTA CLARA