IVAC - Earnings announcements

Intevac, Inc. (NASDAQ:IVAC) ("Intevac"), a leading supplier of thin-film processing systems, today announced that it plans to host an earnings conference call for its fiscal fourth quarter and full year 2024 at 1:30 p.m. PT (4:30 p.m. ET) on Tuesday, February 25th 2025. Event:   Intevac Fourth Quarter and Fiscal Year 2024 Earnings Call Date:   Tuesday, February 25th 2025 Time:   1:30 p.m. PT (4:30 p.m. ET) Live Call:   1 (877) 407-0989 (U.S. Toll-Free) or +1 (201) 389-0921 (International) Meeting number: 13751168 Webcast:   https://www.webcast-eqs.com/login/intevac022525 or https://ir.intevac.com For those unable t

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the quarter and nine months ended September 28, 2024. "We are pleased to report third-quarter results favorable to our expectations going into the quarter," commented Nigel Hunton, president and chief executive officer. "Technology upgrades in support of next-generation HAMR (heat-assisted magnetic recording) media continue to drive the majority of our business, and total revenues from HDD upgrades, spares, and field service totaled over $13 million, exceeding our expectations. With an additional $15 million of largely pass-through revenue associated with the transfer of inventory to a customer, the gross margin and earnings

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the quarter and six months ended June 29, 2024. "We witnessed strengthening demand for hard disk drive (HDD) media technology upgrades during the second quarter, and our team in Singapore provided solid execution, which led to revenues well ahead of expectations," commented Nigel Hunton, president and chief executive officer. "Today's media upgrade initiatives, including those in support of the HAMR (heat-assisted magnetic recording) technology transitions now underway, demonstrate Intevac's critical role within the HDD ecosystem. Our flagship 200 Lean® is the world's leading platform for media production, both today and for

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the first quarter ended March 30, 2024. Q1 Highlights: Continued strong demand for technology upgrades for hard disk drive (HDD) media resulted in sales of nearly $10 million and gross margin approaching 44% for the quarter. New orders exceeded $20 million for the quarter, and included HDD technology upgrade bookings from multiple customers, including initial HAMR (heat-assisted magnetic recording) upgrade orders from a leading data storage company. Completed agreement related to payment terms with a major HDD customer. Resolved our JDA agreement in order to work directly with key OEMs and their direct suppliers,

Intevac, Inc. (NASDAQ:IVAC), a leading supplier of thin-film processing systems, today reported financial results for the fiscal fourth quarter and year ended December 30, 2023. Q4 and Fiscal 2023 Highlights Successfully completed TRIO™ development program and achieved qualification of initial TRIO system before year-end 2023. Q4 sales of $12.9 million exceeded prior expectations due to the acceleration of heat-assisted magnetic recording (HAMR) technology upgrades for our hard disk drive (HDD) customers. Total revenues of $52.7 million for fiscal 2023 represented very strong growth of 47% year-over-year. Achieved all-time record sales of HDD upgrades – for both the fiscal third

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the quarter and nine months ended September 30, 2023. "We are pleased to deliver third-quarter 2023 results well above our prior expectations, reflecting media technology upgrade initiatives currently underway in the hard disk drive (HDD) industry," commented Nigel Hunton, president and chief executive officer. "Industry leaders are focused on executing the ramp of next-generation media technology, and within this evolving landscape Intevac has emerged as the enabling technology partner for HDD media production. The revenue upside we achieved in Q3 also demonstrates our operational agility and ability to execute to meet cust

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the quarter and six months ended July 1, 2023. "2023 has been a year of both immense change for Intevac, as well as tremendous opportunity," commented Nigel Hunton, president and chief executive officer. "We are excited about continued progress in our joint development program for our groundbreaking TRIO™ platform year to date. Our JDA partner, one of the world's leading innovators in glass and glass-ceramic materials for mobile consumer electronics applications, with whom we entered a joint development agreement for the TRIO platform in fiscal 2022, is currently evaluating the TRIO tool built by Intevac. The next step will

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the first quarter ended April 1, 2023. Q1 Highlights: Revenue of $11.5 million was at the upper end of expectations, a 3% increase from the previous quarter and up 160% from Q1 of 2022; With gross margin of 41% and operating expenses of $9.2 million, the net loss from continuing operations was $0.16 per share, favorable to expectations; and Continued progress, in partnership with our joint development partner, developing the TRIO™ platform for the coating of consumer electronics devices. "We are pleased to deliver Q1 revenues at the upper end of our expectations, which is demonstrative of our strong partnerships

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the fiscal fourth quarter and year ended December 31, 2022. Fiscal 2022 Highlights Exceeded financial performance objectives for the year, with $36 million in revenues, 42% gross margins, and solid cash flow performance, resulting in $113 million in total cash, cash equivalents, restricted cash, and investments at year end Record-level orders of $133 million for the year, contributing to year-end backlog of $122 million, establishing the foundation for future revenue growth Entered into a joint development agreement (JDA) with a leading provider of glass and glass ceramic materials, adding a significant new revenue oppo

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the quarter and nine months ended October 1, 2022. Q3 Highlights: Total backlog at quarter-end increased to over $110 million Revenues exceeded forecast at $10.8 million Gross margin of 45.5% was above forecast primarily due to favorable mix, and our net loss from continuing operations was above guidance at $0.13 per share Further built upon our balance sheet strength, with $125 million in total cash, cash equivalents, restricted cash, and investments at quarter-end "We are pleased to report financial results exceeding our forecast for the third quarter of 2022, with upside in revenues, gross margin, and net earning

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the quarter and six months ended July 2, 2022. Q2 Highlights: - Total backlog at quarter-end increased to over $100 million - Revenues exceeded forecast at $9.3 million - Gross margin of 48% was above forecast primarily due to favorable mix; and with continued control of expenses, our net loss from continuing operations was reduced to $0.10 per share, an improvement compared to the prior quarter and year-ago period - Maintained strength of balance sheet, with $110 million in total cash, cash equivalents, restricted cash, and investments at quarter-end; with subsequent receipt of customer deposits adding to our cash balance i

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the first quarter ended April 2, 2022. Q1 Highlights: Achieved new 12-year record high in quarterly bookings and backlog for thin-film equipment New orders totaled $67 million Backlog increased to $87 million Booked $54 million order for multiple 200 Lean® systems Announced multi-year upgrade and refurbishment agreement valued at over $20 million Completed significant amount of restructuring activities, which included streamlining the Company by eliminating one layer of senior management, as well as ceasing development and marketing activities in multiple growth initiatives Limited the Company's use of cash i

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the fiscal fourth quarter and year ended January 1, 2022. Fiscal 2021 Highlights Completion of the sale of our Photonics business, which closed in late December and is valued at up to $100 million, reflecting the up-front cash payment of $70 million and future earn-out payments of up to $30 million; Substantial balance sheet strength, with our total balance of cash and investments growing to $121 million at year-end, equivalent to $4.92 per share, with total stockholders equity of $134 million, equivalent to $5.44 per share. $10 million order booked in Q4, including one 200 Lean® system plus technology upgrades for a le

Intevac, Inc. (NASDAQ:IVAC), ("Intevac" or the "Company), a leading supplier of thin-film processing systems, today announced the sale of its Photonics business ("Photonics") to EOTECH LLC, a privately-held optical technology company ("EOTECH"). The transaction, structured as an asset sale, closed on December 30th, 2021 and is valued at up to $100 million, consisting of an up-front cash payment of $70 million and future earn-out payments of up to $30 million. With the completion of the sale of Photonics to EOTECH, Intevac will continue its broader strategic review process, and shift its entire focus onto the Thin-Film Equipment ("TFE") business, serving multiple growing thin-film technolog

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the quarter and nine months ended October 2, 2021. "We are pleased to report Q3 financial results that were above forecast, and up sequentially from the second quarter, chiefly as a result of the continued acceleration of upgrade programs by our hard disk drive (HDD) customers," commented Wendell Blonigan, president and chief executive officer. "We achieved improved operating results in the quarter, with a significant sequential increase in gross margin and continued control of expenses. In the third quarter, we completed our restructuring efforts in Thin-film Equipment (TFE) to enable reduced expense levels during this perio

Intevac, Inc. (NASDAQ:IVAC) today reported financial results for the quarter and six months ended July 3, 2021. "We are pleased to report revenues above forecast for the second quarter, chiefly as a result of the acceleration of technology upgrades by our hard disk drive (HDD) customers," commented Wendell Blonigan, president and chief executive officer. "We announced a record HDD upgrade order in June, which also drove the majority of the $15 million increase in backlog in our Thin-film Equipment (TFE) business in the quarter. In our Photonics business, we announced two new development program awards in June, both of which are aimed at improving the low light level night vision performanc