reports
Intevac Announces Details of Special Dividend
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC) (“Intevac”), a supplier of thin-film processing systems, today announced that a one-time special cash dividend of $0.052 per share of common stock will be paid on March 28, 2025, to all stockholders of record as of the close of business on March 24, 2025. The one-time special cash dividend is being paid in connection with the proposed acquisition of Intevac by Seagate Technology Holdings plc (“Seagate”). Seagate has commenced a tender offer (the “Offer”) to acquire all of Intevac’s outstanding common stock for $4.00 per share...
Intevac to Host Fourth Quarter and Fiscal Year 2024 Earnings Call on F...
SANTA CLARA, Calif.--(BUSINESS WIRE)-- 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 nu...
Intevac Provides Cash and Revenue Guidance, Announces Dividend, Furthe...
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC) (“Intevac” or the “Company”) today announced its anticipated year end cash position, 2025 revenue guidance, commencement of quarterly dividends, further restructuring to strengthen profitability, and a renewed focus on its pursuit of strategic options. At year end Intevac’s cash position, composed of restricted cash, and investments, is expected to be in the range of $70-$72 million. 2025 revenue is expected to be in the range of $52-$55 million. The Company is committed to maintaining disciplined spending and balance sheet ...
Intevac Announces Third Quarter 2024 Financial Results
SANTA CLARA, Calif.--(BUSINESS WIRE)-- 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 ad...
Intevac Announces Appointment of Ryan L. Vardeman to Board of Director...
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, today announced the appointment of Ryan L. Vardeman to its board of directors (the “Board”), effective immediately. Mr. Vardeman is a principal and co-founder of Palogic Value Fund, L.P. (“Palogic”), which is a substantial shareholder of Intevac. “We are pleased to welcome Ryan to the Board,” said Kevin Barber, chair of the Board. “We look forward to Ryan’s contributions as a director and believe that he will further enhance the strength of our Board as we focus on buildin...
Intevac to Announce Third Quarter 2024 Results on November 11th
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, will release financial results for its fiscal third quarter 2024 at approximately 1 p.m. PT (4 p.m. ET) on Monday, November 11th, 2024. At 1:30 p.m. PT (4:30 p.m. ET) on November 11th, Intevac management will host a teleconference to discuss the Company's financial results. To participate in the teleconference, please call toll-free (877) 407-0989 prior to the start time, and reference meeting number 13748961. For international callers, the dial-in number is +1 (201) 389-0...
Intevac Announces Appointment of Kevin Barber as Board Chairman
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, today announced the appointment of Kevin Barber as the Company’s Board Chairman, effective today. Mr. Barber succeeds David S. Dury, who has served as Board Chairman since 2017 and will remain on the Board until the annual meeting of stockholders in 2025. “I would like to thank David for his meaningful contributions during his time as Board Chairman,” commented Nigel Hunton, Intevac’s president and chief executive officer. “David has proven to be a critical asset to the Com...
Intevac Welcomes Eiji Miyanaga to its Board of Directors
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, today announced that it has expanded its Board of Directors with the appointment of industry veteran Eiji Miyanaga, as a new independent director. Mr. Miyanaga most recently served on the board of directors of Ferrotec Holdings Corporation (JASDAQ: 6890), a leading global supplier of advanced materials, components, and precision system solutions used in a broad array of end products, manufacturing systems, and industries, with over $1.5B of sales annually. Mr. Miyanaga spe...
Intevac Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC, “Intevac” or “the Company”), a leading supplier of thin-film processing systems, today announced, as required by Nasdaq Stock Market rules, the grant of inducement awards to Cameron McAulay in connection with his appointment as Intevac’s new Chief Financial Officer, Secretary and Treasurer in July 2024. Such grants were made under the Intevac, Inc. 2022 Inducement Equity Incentive Plan, which Intevac’s board of directors approved and adopted on January 19, 2022, as amended July 1, 2024. As provided for in Mr. McAulay’s emplo...
Intevac Announces Second Quarter 2024 Financial Results
SANTA CLARA, Calif.--(BUSINESS WIRE)-- 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 Inteva...
Intevac to Announce Second Quarter 2024 Results on August 5th
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, will release financial results for its fiscal second quarter 2024 at approximately 1 p.m. PT (4 p.m. ET) on Monday, August 5th, 2024. At 1:30 p.m. PT (4:30 p.m. ET) on August 5th, Intevac management will host a teleconference to discuss the Company's financial results. To participate in the teleconference, please call toll-free (877) 407-0989 prior to the start time, and reference meeting number 13747605. For international callers, the dial-in number is +1 (201) 389-0921...
Intevac Appoints Cameron McAulay as Chief Financial Officer
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, today announced the appointment of Cameron McAulay as the Company’s chief financial officer (CFO), effective today. Mr. McAulay succeeds Kevin Soulsby, who has served as interim CFO since August 2023 and today resumes his role as corporate controller for Intevac. Cameron McAulay brings extensive experience in operational finance and over 25 years of financial management expertise to Intevac. Mr. McAulay served as CFO of Transphorm, Inc., a NASDAQ-listed semiconductor compa...
Intevac Announces First Quarter 2024 Financial Results
SANTA CLARA, Calif.--(BUSINESS WIRE)-- 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...
Intevac Announces Earlier Release Date of Thursday, April 25th for Fir...
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, has pulled in the timing of the release of first quarter results due to a change in management travel commitments. The Company will now release financial results for its fiscal first quarter 2024 at approximately 7 a.m. EDT on Thursday, April 25th, 2024. At 8:30 a.m. EDT (5:30 a.m. PDT) on April 25th, Intevac management will host a teleconference to discuss the Company's financial results. To participate in the teleconference, please call toll-free (877) 407-0989 prior t...
Intevac to Announce First Quarter 2024 Results on April 29th
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, will release financial results for its fiscal first quarter 2024 at approximately 1 p.m. PT (4 p.m. ET) on Monday, April 29th, 2024. At 1:30 p.m. PT (4:30 p.m. ET) on April 29th, Intevac management will host a teleconference to discuss the Company's financial results. To participate in the teleconference, please call toll-free (877) 407-0989 prior to the start time, and reference meeting number 13745582. For international callers, the dial-in number is +1 (201) 389-0921....
Intevac Announces Fourth Quarter and Full Year 2023 Financial Results
SANTA CLARA, Calif.--(BUSINESS WIRE)-- 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 fisca...
Intevac to Announce Fourth Quarter and Fiscal Year 2023 Results on Feb...
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, will release financial results for its fiscal fourth quarter and full year 2023 at approximately 1 p.m. PT (4 p.m. ET) on Monday, February 5th, 2024. At 1:30 p.m. PT (4:30 p.m. ET) on February 5th, Intevac management will host a teleconference to discuss the Company's financial results. To participate in the teleconference, please call toll-free (877) 407-0989 prior to the start time, and reference meeting number 13743810. For international callers, the dial-in number is...
Intevac Announces Successful Qualification of TRIO™ System
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, today announced that the Company has successfully completed the qualification of its first TRIO™ system within the initial 12 months of the partnership agreement. “We are very pleased to announce the completion of the TRIO development program, and the successful qualification of the first TRIO system achieved last week with our partner Corning,” commented Nigel Hunton, president and chief executive officer. “The success of the development and achievement of qualification, ...
Intevac Announces Participation in 12th Annual NYC Summit
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, today announced management’s participation in the 12th Annual NYC Summit, being held Tuesday, December 12th at Mastro’s New York. The presentation material utilized during the NYC Summit will be made accessible on the events page of the Company’s website at . About the 12th Annual NYC Summit The NYC Summit is collectively hosted and funded by participating companies and features a “round-robin” format consisting of small group meetings with company management teams. Du...
Intevac Announces Third Quarter 2023 Financial Results
SANTA CLARA, Calif.--(BUSINESS WIRE)-- 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 f...
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