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. (IVAC) delivers innovative thin film processing systems and advanced photonics solutions for industrial manufacturing and defense applications. This news hub provides investors and industry professionals with essential updates on the company's technological advancements, strategic initiatives, and market developments.
Access official press releases and curated analysis covering IVAC's equipment innovations for hard disk production, breakthroughs in vacuum coating technology, and defense-focused digital sensor advancements. Our repository includes updates on quarterly earnings, product launches, and strategic partnerships that shape the company's position in precision manufacturing and night vision systems.
Key content includes:
• Production milestones in thin film deposition systems
• Defense contract announcements for digital imaging solutions
• Technology partnership updates across manufacturing sectors
• Financial performance reports and strategic roadmap insights
Bookmark this page for streamlined access to IVAC's latest developments in high-productivity manufacturing equipment and mission-critical photonics systems. Stay informed about the company's progress through verified updates from primary sources and industry analysis.
Intevac, Inc. (NASDAQ: IVAC) will announce its financial results for the fiscal fourth quarter and full year 2021 on February 9, 2022, at 1 p.m. PT. A teleconference will follow at 1:30 p.m. PT, where management will discuss the outcomes. Investors can participate by calling toll-free or accessing the live webcast. Intevac specializes in high-productivity, thin-film processing systems, serving sectors like hard drive media and semiconductor packaging. Detailed insights on performance metrics will be expected during the announcement.
Intevac, Inc. (Nasdaq: IVAC) appointed Nigel Hunton as its new president and CEO, effective January 19, following the retirement of Wendell Blonigan. Hunton brings extensive experience in capital equipment and thin-film processing, having previously led Photon Control, where he doubled revenues and tripled market valuation. The board aims for Hunton to explore revenue growth opportunities and enhance stockholder value while streamlining operations. Blonigan's retirement follows the successful sale of the Photonics business, simplifying the company structure.
Intevac, Inc. (NASDAQ: IVAC) announced the sale of its Photonics business to EOTECH LLC for up to $100 million on December 30, 2021. The deal includes a $70 million upfront cash payment and potential earn-out payments of $30 million. This strategic move allows Intevac to focus on its Thin-Film Equipment (TFE) business, enhancing its financial position. Despite the Photonics division's historical significance in military digital night vision systems, the company aims to maximize shareholder value by streamlining operations and concentrating on core technologies.
Intevac, Inc. (Nasdaq: IVAC) announced new HDD orders totaling $10 million, which include a 200 Lean® system and technology upgrades intended to enhance media capacity. The upgrades will be installed through mid-2022, and the system is scheduled for delivery in the second half of 2022. This marks the first new 200 Lean order since 2018, reflecting anticipated industry demand for mass-capacity drives. The company is recognized for its leadership in thin-film processing systems and serves various markets including hard drives and semiconductor packaging.
Intevac, Inc. (Nasdaq: IVAC) reported Q3 results surpassing forecasts, driven by increased HDD customer upgrades. Q3 net revenues fell to $14.8 million from $21.6 million YoY, with a net loss of $4.2 million ($0.17 per share). Operating loss increased to $4.0 million. Despite restructuring efforts in Thin-film Equipment, gross margins declined: TFE at 41.9%, Photonics at 32.0%. The order backlog decreased to $44.9 million. For the year-to-date, revenues totaled $44.8 million, down from $69.2 million, with a net loss of $16.9 million. Management expects a return to growth in 2022.
Intevac, Inc. (Nasdaq: IVAC) will announce its fiscal third quarter 2021 financial results on November 1, 2021, at 1 p.m. PT. A teleconference will follow at 1:30 p.m. PT for discussion with management. Participants can join by calling (877) 407-0989 or listen online at the provided links. Founded in 1991, Intevac specializes in Thin-film Equipment and Photonics, serving markets such as semiconductor packaging and defense.
Intevac, Inc. (NASDAQ: IVAC) has secured a five-year, IDIQ contract valued at $16.3 million for producing night vision cameras for the Apache Helicopter's M-PNVS program for the U.S. Army. This contract allows the U.S. Army to procure additional units at pre-negotiated pricing through August 2026. The cameras utilize Intevac's patented EBAPS® digital imaging sensor for extreme low light detection. This contract signifies Intevac's continued support of military operations and reflects its established relationship with the U.S. Army.
Intevac reported financial results for Q2 2021, with revenues of $13.8 million, below $28.8 million from Q2 2020. The company faced a net loss of $6.1 million, translating to a loss of $0.25 per share. Key drivers included technology upgrades by HDD customers, revealing a $15 million backlog increase in the Thin-film Equipment (TFE) sector. Photonics revenue decreased to $8.4 million due to integration costs with the IVAS platform. Despite challenges, Intevac maintains a strong financial position with $54.1 million in cash and a backlog of $51.7 million.
Intevac, Inc. (Nasdaq: IVAC) is set to announce its fiscal Q2 2021 financial results on August 2, 2021, at 1 p.m. PT (4 p.m. ET). A teleconference will follow at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results, with participation details available via their investor relations website. Intevac operates two primary business segments: Thin-film Equipment, which focuses on high-productivity processing systems, and Photonics, specializing in advanced digital sensors and systems for the defense sector.
Intevac, Inc. (Nasdaq: IVAC) announced two additional Phase 1 development program awards in Photonics to enhance low-light performance of their CMOS cameras. This follows a prior ManTech development award. The Enhanced Performance CIS and EBAPS awards aim to exceed current operating capabilities for military applications, potentially bringing in $23 million in development revenues over three years if selected for Phase 2. Intevac specializes in advanced digital sensors and is a key supplier for U.S. Department of Defense night vision programs.
