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]
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.
Intevac, Inc. (Nasdaq: IVAC) announced $10 million in new orders for technology upgrades from its HDD customers. These upgrades, expected to be completed by year-end, enhance technologies essential for advancing media technology roadmaps. Jay Cho, executive VP, noted the order reflects strong customer partnerships and growing demand for advanced media technology. The expected revenues from these orders were already included in the company’s 2021 TFE forecast provided earlier in May 2021.
Intevac, Inc. (Nasdaq: IVAC) reported challenging financial results for Q1 2021, with net revenues of $16.2 million, down from $18.8 million in Q1 2020. The operating and net loss stood at $6.5 million. Revenue declines were attributed to pauses in their Photonics and Thin-film Equipment (TFE) businesses. Positively, Intevac secured its first order in semiconductor packaging and announced a $7 million Photonics development program. Cash flow from operations increased, ending the quarter with $53.6 million in cash, an increase of $3.2 million since year-end 2020.
Intevac, Inc. (Nasdaq: IVAC) will announce its fiscal Q1 2021 financial results on May 3, 2021, at 1 p.m. PT (4 p.m. ET). A teleconference for discussion will follow at 1:30 p.m. PT (4:30 p.m. ET). Participants can join by calling toll-free (877) 407-0989 or +1 (201) 389-0921 for international calls, referencing meeting number 13718576. Interested parties may also listen to the call live on the company's investor relations website. Founded in 1991, Intevac specializes in Thin-film Equipment and Photonics, serving markets like hard drive media and defense.
Intevac, Inc. (Nasdaq: IVAC) announced an order for the INTEVAC MATRIX® PVD system aimed at fan-out applications in advanced semiconductor packaging. The order follows a successful evaluation program with an OSAT company completed in March 2021, with expected revenue recognition in Q1 2021. The MATRIX system offers reduced cost of ownership and flexibility for various substrate sizes, enhancing semiconductor device packaging efficiency. The company acknowledges overcoming pandemic-related challenges to achieve this milestone.
FAQ
What is the current stock price of Intevac (IVAC)?
What is the market cap of Intevac (IVAC)?
What does Intevac Inc. specialize in?
What are the primary business segments of Intevac Inc.?
What industries does Intevac serve?
What is Intevac's market share in the hard drive industry?
Where does Intevac generate most of its revenue?
What are some of Intevac's latest achievements?
Who are Intevac's primary clients in the photonics business?
What products does Intevac offer in the photonics sector?
How does Intevac contribute to the defense industry?
What is Intevac's role in the solar industry?
