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.
Intevac, Inc. (Nasdaq: IVAC) announced $10 million in new orders for technology upgrades from its HDD customers. These upgrades, expected to be completed by year-end, enhance technologies essential for advancing media technology roadmaps. Jay Cho, executive VP, noted the order reflects strong customer partnerships and growing demand for advanced media technology. The expected revenues from these orders were already included in the company’s 2021 TFE forecast provided earlier in May 2021.
Intevac, Inc. (Nasdaq: IVAC) reported challenging financial results for Q1 2021, with net revenues of $16.2 million, down from $18.8 million in Q1 2020. The operating and net loss stood at $6.5 million. Revenue declines were attributed to pauses in their Photonics and Thin-film Equipment (TFE) businesses. Positively, Intevac secured its first order in semiconductor packaging and announced a $7 million Photonics development program. Cash flow from operations increased, ending the quarter with $53.6 million in cash, an increase of $3.2 million since year-end 2020.
Intevac, Inc. (Nasdaq: IVAC) will announce its fiscal Q1 2021 financial results on May 3, 2021, at 1 p.m. PT (4 p.m. ET). A teleconference for discussion will follow at 1:30 p.m. PT (4:30 p.m. ET). Participants can join by calling toll-free (877) 407-0989 or +1 (201) 389-0921 for international calls, referencing meeting number 13718576. Interested parties may also listen to the call live on the company's investor relations website. Founded in 1991, Intevac specializes in Thin-film Equipment and Photonics, serving markets like hard drive media and defense.
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.
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