Intevac Inc - IVAC STOCK NEWS

Intevac, Inc. (NASDAQ: IVAC) will release its fiscal first quarter 2023 financial results on Wednesday, May 3, 2023, at approximately 1 p.m. PT (4 p.m. ET). A teleconference discussing the results will take place at 1:30 p.m. PT (4:30 p.m. ET) on the same day. Participants can join by calling toll-free or via an online webcast. Founded in 1991, Intevac is a provider of thin-film processing systems, primarily for the hard disk drive (HDD) industry, with more than 180 of its 200 Lean® systems in operation worldwide. The company is also expanding its technology into applications like protective coatings for display cover glass. Investors can find more information and access the archived call on the company's investor relations website.

Intevac, Inc. (Nasdaq: IVAC) reported its fiscal fourth quarter and 2022 year-end results. Key highlights include $36 million in revenue, 42% gross margins, and a $113 million cash position. The company secured record orders of $133 million, leading to a backlog of $122 million. A joint development agreement worth $100 million over five years was signed, focusing on the TRIO™ platform for consumer electronics. Although the net loss for Q4 2022 was $3.2 million (or $0.12 per share), it improved from last year. The company aims for profitable growth in 2024.

Intevac, Inc. (Nasdaq: IVAC) will release its fiscal fourth quarter and full year 2022 financial results on February 1, 2023, at 1 p.m. PT. A teleconference will follow at 1:30 p.m. PT, where management will discuss the results. Intevac, a leader in thin-film processing systems, has supplied over 180 of its industry-leading 200 Lean systems to the hard disk drive (HDD) industry, representing the majority of the world's HDD disk media production capacity. The company is also expanding its technology applications into protective coatings for display cover glass.

Intevac, Inc. (NASDAQ:IVAC) will participate virtually in the 25th Annual Needham Growth Conference on January 12th. The presentation materials will be available on the investor page of their website. Intevac is a leading supplier of thin-film processing systems, particularly in the hard disk drive industry, having delivered over 180 of its 200 Lean® systems. They are also exploring additional applications such as protective coatings for display cover glass. For more details, visit Intevac's investor page.

Intevac, Inc. (Nasdaq: IVAC) has entered into a joint development agreement with a major glass and glass ceramic materials provider, marking a significant milestone in its growth trajectory. The agreement provides a five-year exclusivity period for the TRIO™ platform, with a minimum revenue requirement of $100 million in system sales. Intevac's TRIO™ technology is designed for mass production of thin-film coatings for consumer electronics and other applications. This partnership underscores Intevac's expertise and capacity in high-volume manufacturing, positioning it for future growth.

Intevac, Inc. (IVAC) will participate in the 11th Annual NYC Summit on December 13, 2022, held at Mastro's in New York. This event will allow accredited investors and analysts to meet with management teams from 12 participating companies, including Intevac. The presentation materials will be available on the company's website following the event. Attendance is by invitation only, and interested parties must RSVP by December 1, 2022. Intevac specializes in thin-film processing systems, primarily for the HDD industry, and is expanding into advanced coating applications in growth markets.

Intevac, Inc. (Nasdaq: IVAC) reported Q3 2022 financial results, with revenues of $10.8 million, surpassing forecasts. The gross margin improved to 45.5%, and the net loss was $3.2 million or $0.13 per share, an improvement from the previous year. Total backlog increased to over $110 million, indicating strong demand despite a decline in the HDD market. The company is advancing a partnership with Corning for its TRIO™ platform, aiming for a definitive agreement by year-end. Total cash and equivalents at quarter-end reached $125 million.

Intevac, Inc. (Nasdaq:IVAC) has secured a $12 million order for hard disk drive (HDD) technology upgrades, to be installed in 2023. This order highlights Intevac's strong relationship with its HDD customers and reinforces its status as a key technology provider in the industry. With over 180 200 Lean® systems delivered, Intevac plays a crucial role in HDD media processing, currently representing at least 65% of global HDD disk media capacity. Despite this positive development, the company acknowledges potential risks posed by global economic factors and supply chain disruptions.