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.
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Rhea-AI Summary
Intevac, Inc. (IVAC) announced its first quarter 2024 financial results, showcasing strong demand for HDD technology upgrades with sales of nearly $10 million and gross margin of 44%. New orders exceeded $20 million, including initial HAMR upgrade orders. The company resolved payment terms with a major customer and shipped an initial TRIO system to a display cover glass facility in Asia. Total cash, restricted cash, and investments stood at $65 million. Q1 revenues were $9.6 million, with a net loss of $1.6 million. Backlog was $53.1 million, and the company ended the quarter with $65.5 million in cash and $114.0 million in tangible book value.
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10.54%
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Intevac, Inc. (IVAC) has rescheduled the release of its first-quarter 2024 financial results to Thursday, April 25th, 2024, due to management travel commitments. The company will host a teleconference at 8:30 a.m. EDT to discuss the results.
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0.83%
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Intevac, Inc. (IVAC) will announce its fiscal first quarter 2024 financial results on April 29th, followed by a teleconference to discuss the results. Investors can participate via phone or webcast.
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-4.5%
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Intevac, Inc. (IVAC) reported strong financial results for the fiscal fourth quarter and year ended December 30, 2023. The Q4 sales of $12.9 million exceeded expectations due to the acceleration of heat-assisted magnetic recording technology upgrades for hard disk drive customers. The total revenues of $52.7 million for fiscal 2023 represented very strong growth of 47% year-over-year. The company ended 2023 with $72.2 million in cash, restricted cash, and investments, slightly below forecast due to delayed collections from their largest customer.
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-3.24%
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Intevac, Inc. (IVAC) will release its fiscal fourth quarter and full year 2023 financial results on February 5th, 2024. A teleconference will be held to discuss the results, and participants can join via phone or live webcast.
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-1.93%
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Intevac, Inc. (Nasdaq: IVAC) has successfully completed the qualification of its first TRIO™ system within the initial 12 months of the partnership agreement with Corning. The development program's success and achievement of qualification before year-end 2023 demonstrate the tireless efforts of the entire Intevac team. The TRIO system is expected to bring in the company's first revenues in fiscal 2024, representing significant potential for future revenue growth with an estimated $1 billion served market.
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1.85%
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Intevac, Inc. (IVAC) Announces Participation in the 12th Annual NYC Summit for Thin-Film Processing Systems
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-3.62%
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Intevac, Inc. (Nasdaq: IVAC) reported Q3 2023 financial results well above expectations, driven by media technology upgrade initiatives in the HDD industry. The company expects an increase in total cash balance by year-end, within the range of $75 to $80 million. Intevac entered the qualification cycle for its TRIO platform with JDA partner Corning Incorporated, which represents significant potential for future revenue growth. The recently completed restructuring process is expected to improve operating performance and preserve the balance sheet strength.
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11.54%
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Intevac, Inc. to release financial results for fiscal third quarter 2023
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1.16%
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6.57%
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Intevac Inc
Nasdaq:IVAC
IVAC Rankings
IVAC Stock Data
112.72M
20.54M
3.62%
73.84%
3%
Computer Storage Device Manufacturing
Manufacturing
United States of America
SANTA CLARA
About IVAC
about intevac intevac was founded in 1991 and has two businesses: equipment and photonics. in our equipment business, we are a leader in the design and development of high productivity, thin film processing systems. our production-proven platforms are designed for high volume manufacturing of substrates with precise thin film properties. intevac is the market and technology leader in the hard drive industry with approximately 60% of all magnetic disk media produced worldwide. our technology solutions improve performance and throughput, and continue to expand into additional markets - including solar and adjacent thin film deposition applications. in our photonics business, we are a recognized leading developer of advanced high-sensitivity digital sensors, cameras and systems that primarily serve the defense industry. we are the sole source provider of integrated digital imaging systems for most u.s. military night vision programs. • company industries hard disk drive, vacuum coating an