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.
The IVAC news page on Stock Titan provides an archive of news and press releases related to Intevac, Inc., a former Nasdaq‑listed supplier of thin‑film processing systems for the hard disk drive (HDD) industry. These articles document how Intevac positioned itself as a provider of thin‑film process technology and manufacturing platforms for high‑volume manufacturing environments and how its business evolved over time.
Intevac’s news flow covers several recurring themes. Many releases describe its role as a long‑time supplier to the HDD industry, highlighting the 200 Lean® platform, which the company stated supports the majority of the world’s capacity for HDD disk media production and the vast majority of the industry’s most advanced HAMR media. Other updates discuss technology upgrades for next‑generation HAMR media, HDD upgrades, spares and field service activity, and restructuring decisions such as the closure of the TRIO™ business to refocus on HDD.
Corporate governance and strategic developments also feature prominently. News items include board appointments, changes in board leadership, the formation and work of a Strategic Committee, and the engagement of Houlihan Lokey to explore strategic alternatives. Later releases detail the agreement for Seagate Technology Holdings plc to acquire Intevac, followed by confirmation that Seagate completed the acquisition through a tender offer and merger, after which Intevac became a wholly owned subsidiary of Seagate and its shares ceased trading and will be delisted from Nasdaq.
Investors and researchers can use this news archive to trace Intevac’s strategic focus on HDD thin‑film technology, its restructuring steps, and the sequence of events leading to its acquisition. Bookmark this page to reference historical announcements, transaction details, and company communications associated with the IVAC ticker.
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Intevac, Inc. (NASDAQ: IVAC) will release its fiscal first quarter 2023 financial results on Wednesday, May 3, 2023, at approximately 1 p.m. PT (4 p.m. ET). A teleconference discussing the results will take place at 1:30 p.m. PT (4:30 p.m. ET) on the same day. Participants can join by calling toll-free or via an online webcast. Founded in 1991, Intevac is a provider of thin-film processing systems, primarily for the hard disk drive (HDD) industry, with more than 180 of its 200 Lean® systems in operation worldwide. The company is also expanding its technology into applications like protective coatings for display cover glass. Investors can find more information and access the archived call on the company's investor relations website.
Intevac, Inc. (Nasdaq: IVAC) reported its fiscal fourth quarter and 2022 year-end results. Key highlights include $36 million in revenue, 42% gross margins, and a $113 million cash position. The company secured record orders of $133 million, leading to a backlog of $122 million. A joint development agreement worth $100 million over five years was signed, focusing on the TRIO™ platform for consumer electronics. Although the net loss for Q4 2022 was $3.2 million (or $0.12 per share), it improved from last year. The company aims for profitable growth in 2024.
Intevac, Inc. (Nasdaq: IVAC) will release its fiscal fourth quarter and full year 2022 financial results on February 1, 2023, at 1 p.m. PT. A teleconference will follow at 1:30 p.m. PT, where management will discuss the results. Intevac, a leader in thin-film processing systems, has supplied over 180 of its industry-leading 200 Lean systems to the hard disk drive (HDD) industry, representing the majority of the world's HDD disk media production capacity. The company is also expanding its technology applications into protective coatings for display cover glass.
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