Intevac - IVAC STOCK NEWS

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.

Intevac (Nasdaq: IVAC) has secured a $1.8 million development contract from the Joint Directed Energy Transition Office for the first year of a $7 million project to develop a Gated SWIR Sensor for High Energy Laser systems. This marks a return to the Directed Energy weapons market, which is poised for growth. The contract underscores the military's commitment to Intevac's SWIR technology. Timothy Justyn and Wendell Blonigan from Intevac emphasize the strategic importance of this contract in enhancing military capabilities and creating future market opportunities.

Intevac reported fiscal 2020 results with record Photonics revenues of $45.7 million, a 30% increase year-over-year. The company achieved GAAP EPS of $0.04 and non-GAAP EPS of $0.05, alongside a cash position of $50.4 million, up $7.5 million from 2019. The growth was largely driven by the IVAS program and HDD system upgrades, which contributed to a 5% increase in combined business performance despite COVID-19 impacts. Looking ahead, Intevac aims to move the IVAS program into production and anticipates growth in HDD media capacity investments starting mid-2021.

Intevac, Inc. (Nasdaq: IVAC) will announce its financial results for Q4 and full year 2020 on February 3, 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. Interested parties can join via toll-free number (877) 407-0989 or online at the company’s investor relations website. Intevac specializes in high-productivity thin-film processing systems and advanced digital sensors for the defense industry.

Intevac, Inc. (Nasdaq: IVAC) will participate in the 23rd Annual Needham Growth Conference, scheduled from January 11 to 15, 2021. The company specializes in thin-film processing systems and digital night-vision technologies. During the conference, presentation materials will be accessible on Intevac's investor page. Established in 1991, Intevac operates in two segments: Thin-film Equipment and Photonics, with notable contributions to high-sensitivity digital sensors for defense applications.

Intevac, Inc. (Nasdaq: IVAC) has secured a $5 million development contract from Collins Aerospace to support the U.S. Navy's Enhanced Visual Acuity (EVA) Program. This initiative aims to enhance the effectiveness of Navy and Marine Corps pilots operating in low-light conditions. Intevac will supply its ISIE19 EBAPS® digital night-vision sensor for this project. The contract underscores the military's commitment to advancing digital night vision technology for future use. Intevac is known for its advanced digital sensors and night vision systems utilized by the U.S. Department of Defense.

Intevac, Inc. (Nasdaq: IVAC) is set to participate in two virtual investor events: the D.A. Davidson Semicap, Laser and Optical Conference on December 15, 2020, and the 12th Annual CEO Summit on December 16, 2020. Presentations will begin on December 14, 2020, with access available on the investor page of Intevac's website. The CEO Summit will feature 16 companies, allowing investors to meet management teams in small groups. Registration for the Summit is by invitation only and ends December 10, 2020.

Intevac, Inc. (Nasdaq: IVAC) reported Q3 2020 revenues of $21.6 million, down from $26.3 million in Q3 2019. The net loss for the quarter was $357,000, showing improvement from a loss of $480,000 a year prior. Despite delays in Thin-film Equipment (TFE) growth due to COVID-19, strong demand for HDD technology upgrades and continued progress in the IVAS program contributed to solid gross margins of 43.1%. The company ended the quarter with $49.4 million in cash and investments, highlighting a positive outlook for profitability in fiscal 2020 and growth potential in 2021.

Intevac, Inc. (Nasdaq: IVAC) is set to release its fiscal third quarter 2020 financial results on October 26, 2020, at 1 p.m. PT. A subsequent teleconference will begin at 1:30 p.m. PT, where management will discuss these results. Interested parties can participate via a toll-free call or listen online through the company's investor relations website. Intevac operates in two sectors: Thin-film Equipment and Photonics, focusing on high-productivity processing systems and advanced digital imaging systems for defense applications.