Last $9.22 USD
Change Today +0.11 / 1.21%
Volume 79.6K
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As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

intevac inc (IVAC) Snapshot

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intevac inc (IVAC) Details

Intevac, Inc. provides process manufacturing equipment solutions to the hard disk drive and photovoltaic industries. It operates in two segments, Equipment and Photonics. The Equipment segment designs, develops, and markets hard disk drive equipment products, such as disk sputtering and disk lubrication systems; and technology upgrades, and spare parts and consumables, as well as installation, maintenance, and repair services. This segment’s solar manufacturing products include vacuum process manufacturing solutions for c-Si applications; ENERGi ion implant, which enables precision engineering of the dopant elements, such as phosphorous and boron to form the emitter in the solar cell; integrated physical vapor deposition that is used in various steps in the manufacturing of solar cells, such as electrical contacts, conductor layers, reflective layers, and transparent conductive oxides; and NanoTexture, a dry etch processing system that enables lower reflectance. The Photonics segment develops, manufactures, and sells high-sensitivity digital-optical products for the capture and display of low-light images and materials identification for use in military aircraft, ground vehicles, soldier head-mounted, and weapon-mounted applications; and MicroVista product line of commercial compact and lightweight low-light complementary metal–oxide–semiconductor cameras, which provide high sensitivity in the ultraviolet, visible, or NIR regions of the spectrum for use in industrial inspection, bio-medical, and scientific applications. This segment also offers sensors, cameras, integrated camera systems, and near-eye display systems for military applications. The company sells its products through direct sales force, distributors, and value added resellers in the United States, Asia, Europe, and rest of world. Intevac, Inc. was founded in 1990 and is headquartered in Santa Clara, California.

294 Employees
Last Reported Date: 02/20/14
Founded in 1990

intevac inc (IVAC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $221.2K
Founder and Chairman of the Board
Total Annual Compensation: $325.5K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $300.0K
Executive Vice President and General Manager ...
Total Annual Compensation: $275.0K
Vice President of Business Development
Total Annual Compensation: $315.8K
Compensation as of Fiscal Year 2013.

intevac inc (IVAC) Key Developments

Intevac Inc. Presents at 26th Annual ROTH Conference, Mar-10-2014 05:30 PM

Intevac Inc. Presents at 26th Annual ROTH Conference, Mar-10-2014 05:30 PM. Venue: The Ritz Carlton, 1 Ritz Carlton Dr, Dana Point, CA 92629, United States. Speakers: Jeffrey Andreson, Chief Financial Officer, Principal Accounting Officer, Executive Vice President of Finance & Administration, Treasurer and Secretary.

Intevac Inc. Announces Transition of Christopher Smith to Vice President of Business Development

On January 27, 2014, Intevac Inc. and Christopher Smith, a Named Executive Officer of the company, entered into an Executive Transition Plan and Agreement. Pursuant to the Agreement, Mr. Smith is transitioning to the role of Vice President of Business Development with effect as of January 18, 2014.

Intevac Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter and Full Year of 2014

Intevac Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. Net income for the quarter was $1.7 million, or $0.07 per diluted share, and includes a $3.7 million credit for the change in fair value of certain contingent consideration obligations related to an acquisition in a prior year. This compares to a net loss of $42.7 million, or $1.82 per share, in the fourth quarter of 2012. Revenues were $20.6 million against $17.5 million a year ago. Total operating income was $1,175,000 and income before income taxes was $1,187,000 against total operating loss of $23,890,000 and loss before income taxes of $23,847,000 a year ago. Non-GAAP operating loss was $2,528,000 against $6,133,000 a year ago. The non-GAAP net loss was $2.0 million, or $0.08 per share, compared to a non-GAAP net loss $4.2 million or $0.18 per share, for the fourth quarter of 2012. Capital expenditures were $844,000. For the full year, the net loss was $15.7 million, or $0.66 per share, compared to a net loss of $55.3 million, or $2.37 per share, for fiscal 2012. The non-GAAP net loss was $18.5 million or $0.78 per share. This compares to the 2012 non-GAAP net loss of $16.2 million, or $0.69 per share. Revenues were $69.6 million compared to revenues of $83.4 million a year ago. Total operating loss was $17,823,000 and loss before income taxes was $17,418,000 against total operating loss of $42,533,000 and loss before income taxes of $42,079,000 a year ago. Non-GAAP operating loss was $20,600,000 against $23,523,000 a year ago. The company projects consolidated first quarter revenues of $16 million to $16.5 million including one 200 Lean manufacturing system. The company expects first quarter gross margin to be 26.5% to 28%, which is lower than the fourth quarter due to a lower level of factory absorption in Equipment business. The company projects a net loss in the range of $0.23 to $0.25 per share. For the year, The company expects revenues to improve over 2013, albeit modestly. Given these ranges of revenue, the company expects gross margin in the range of 34% to 35%.


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