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Intevac Inc   (IVAC)
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Price: $3.9200 $0.12 3.158%
Day's High: $4 Week Perf: 2.62 %
Day's Low: $ 3.81 30 Day Perf: -3.45 %
Volume (M): 165 52 Wk High: $ 7.54
Volume (M$): $ 648 52 Wk Avg: $4.26
Open: $3.81 52 Wk Low: $3.07



 Market Capitalization (Millions $) 102
 Shares Outstanding (Millions) 26
 Employees 281
 Revenues (TTM) (Millions $) 52
 Net Income (TTM) (Millions $) -12
 Cash Flow (TTM) (Millions $) -18
 Capital Exp. (TTM) (Millions $) 5

Intevac Inc

Thin-film Equipment: Intevac is 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, such as the hard drive media, display cover panel (“DCP”), and solar photovoltaic (“PV”) markets we serve currently.
Photonics: Intevac is a leading developer of advanced high-sensitivity digital sensors, cameras and systems that primarily serve the defense industry. We are the provider of integrated digital night vision imaging systems for the U.S. military.

Intevac was incorporated in California in October 1990 and was reincorporated in Delaware in 2007.

Hard Disk Drive Equipment Market
Intevac designs, manufactures, markets and services complex capital equipment used to deposit thin films and lubricants onto substrates to produce magnetic disks that are used in hard disk drives. Disk and disk drive manufacturers produce magnetic disks in a sophisticated manufacturing process involving many steps, including plating, annealing, polishing, texturing, sputtering, etching, stripping and lubrication. Intevac believes its systems represent approximately 60% of the installed capacity for disk sputtering worldwide. Intevac’s systems are used by manufacturers of magnetic media such as Seagate Technology, Western Digital, including its wholly-owned subsidiary HGST, Fuji Electric, and Showa Denko.


Hard disk drives are a primary storage medium for digital data including nearline “cloud” applications and are used in products and applications such as personal computers (“PCs”), enterprise data storage, video players and video game consoles. Intevac believes that hard disk drive media shipments will continue to grow over time, driven by continued high growth rates in digitally-stored data, by the slowing of areal density improvements, by the increase in demand for nearline drives for cloud storage, an increasing tie ratio (for the average number of hard disks per drive) and by new and emerging applications. In the hard drive industry, the projected growth rates for digitally-stored data exceed the rate of areal density improvements, at the same time as the tie ratio is increasing, which results in demand for magnetic disks outpacing hard disk drive units.


In recent years the hard disk drive business has been negatively impacted by declining PC units, primarily caused as a result of the proliferation of tablets, the transition to centralized storage, and the effects of uncertain macro-economic environment conditions on demand for PCs from consumers and corporations. Although the hard drive industry continues to expect growth in the enterprise data storage market segment, the transition to centralized storage combined with the negative growth in PC shipments has resulted in lower hard drive shipments in recent years. However, Intevac continues to believe that long-term demand for hard disks required for high capacity hard disk drives will increase, driven by growth in demand for digital storage, declining growth rate in areal density improvements, and increased information technology spending to support the transition to cloud storage. The number of disk manufacturing systems needed to support this growth as well as future technology transitions and improvements is expected to vary from year to year depending on the factors noted above.

Intevac expects that hard disk drive manufacturers will extend their utilization of planar perpendicular media with the introduction of Heat Assisted Magnetic Recording (“HAMR”) expected within the next two to three years. The first HAMR-based hard disk drives are expected to ship to the marketplace in late 2016. Intevac believes that the leading manufacturers of magnetic media are using Intevac Systems for HAMR development, creating a significant market opportunity as HAMR is more widely adopted. Significant market penetration of HAMR-based hard disk drives is expected to occur by 2018. Intevac believes that the transition to HAMR will require disk manufacturers to upgrade their installed base of equipment, which would result in increased demand for equipment technology upgrades to be performed by Intevac.

Solar Market
Intevac designs, manufactures and markets capital equipment for the PV solar manufacturing industry.


A solar cell (also called a PV cell) is a solid state device that converts the energy of sunlight directly into electricity. Assemblies of cells are used to make solar modules, also known as solar panels. Solar panels have broad-based end market applications for utility-scale solar farms; integrated building PV arrays for commercial, retail, and offices; residential rooftop; and for portable devices.


The cost of electricity generated from solar energy, in many cases, remains higher than that of electricity generated from traditional energy sources. However, deployment of photovoltaics is gaining momentum on a worldwide scale, particularly in Asia, North America and other regions, where solar PV is now increasingly competitive with conventional energy sources. Grid parity, whereby solar PV generates power at a levelized cost of electricity (“LCOE”) less than or equal to the price of power purchased from the electrical grid, has already been reached in about thirty countries. In countries or areas where the cost of solar energy generation remains higher than traditional electricity generation sources, some governments have implemented various tax credits and other financial incentives to promote the growth in solar and in other alternative energy sources. As a result of solar energy costs having favorably declined due to the increased scale and improved manufacturing efficiencies spurred by these incentive policies, many governments have reduced or are planning to reduce their incentives for solar, a trend which is likely to continue. However, the United States Investment Tax Credit (“ITC”) for solar which was due to expire by the end of 2016, has been extended to continue the proliferation of solar generated energy. As of the beginning of 2015 fourteen U.S. states have reached grid parity, and an additional fourteen more are poised to reach grid parity within this decade.

Display Cover Panel (“DCP”) Market
Intevac develops equipment to deposit optically transparent thin-films onto DCPs typically found on consumer and automotive electronic products.
DCPs are found in products including smartphones, tablet PCs, wearable devices, gaming systems, digital cameras, automotive infotainment systems and digital signage.


The DCP is typically made of tempered glass, such as soda-lime or aluminosilicate, or other materials such as sapphire. The primary function of the DCP is to provide a clear protective interface to the display it protects. In many cases, the DCP is treated with various coatings to enhance its protective performance as well as for clarity, readability and touch sensitivity.
The types of coatings typically found on DCPs of electronic devices include: Scratch Protection (“SP”) coatings, Anti-Reflection (“AR”) coatings, and Anti-Finger (“AF”) coatings.
SP coatings generally consist of hard thin-films deposited onto the surface of the DCP. Their primary function is to provide enhanced protection against the incidence of scratch, but they can also provide greater breakage resistance. SP coatings are gaining in popularity. SP coatings also improve the readability of displays.


AR coatings enable greater light transmission though the DCP by reducing the light reflected by the surface back to the user’s eye. This allows the user to more easily read the display and reduces the required power needed to display the image which results in extending the battery life. A significant drawback to using AR coatings is their susceptibility to scratch. AR coatings are typically soft and applied to the surface of the DCP. These coatings generally scratch easily.


AF coatings provide water and oil protection for the surface of the DCP. This coating which prevents fingerprints provides greater aesthetics as well as improving readability. AF coatings allow for greater visual acuity when fingerprints are not visible. The drawback to AF coatings is their relatively low resistance to wear. The coating is soft and usually wears off within a few months of product purchase.



   Company Address: 3560 Bassett Street Santa Clara 95054 CA
   Company Phone Number: 986-9888   Stock Exchange / Ticker: NASDAQ IVAC
   


   

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Intevac Inc

Intevac Inc's Impressive Revenue Growth in Q4 2023 Fails to Translate into Profitability, Raising Questions for Investors



Intevac Inc, a reputable player within the Industrial Machinery and Components sector, has witnessed a decline of -44.64% in its shares from a year ago. This article examines the recent financial results of the company, including the surge in revenue, narrowing deficit per share, and the impact of these factors on the company going forward.
Revenue Growth and Loss per Share:
In the most recent fiscal period, Intevac Inc reported a remarkable 25.366% increase in revenue, reaching $14.12 million. This positive performance comes as a surprise when compared to the decline witnessed by most contemporaries within the Industrial Machinery and Components sector during the same period.

Intevac Inc

Intevac Inc's Rough Ride: A Loss of $-0.15 per Share Dominates First Quarter of 2023

Intevac Inc, the leading designer, and manufacturer of vacuum deposition instruments recorded a cumulative net loss of $-13 million during 12 months ending in the first quarter of 2023, making it one of the least profitable companies in the Capital Goods sector. This abysmal performance has resulted in a negative return on assets (ROA) of -7.78%, indicating that the company's assets are producing negative returns for its shareholders.
Furthermore, it could be noted that within the Capital Goods sector, 97 other companies had a higher return on assets, showcasing the underperformance of Intevac Inc. The overall ranking has, however, improved in the Apr 01 2023 quarter, moving to 1285 from the total ROA ranking in the fourth quarter of 2022 at 2006. However, this improvement does not negate the fact that the company is still struggling to generate positive returns on its assets.






 

Intevac Inc's Segments
 
 
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  Revenue Outlook
Intevac Inc does not provide revenue guidance.

Earnings Outlook
Intevac Inc does not provide earnings estimates.

 
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