Intevac, Inc. Receives Ion Implant System Order from Tier 1 Solar Cell Manufacturer
Sep 29 15
Intevac Inc. announced the order of a system configured with ion implantation source technology from a Tier 1 solar cell manufacturer. The system is scheduled to ship in the second half of 2016.
Intevac Inc. Receives Matrix PVD System Order from Tier 1 Solar Cell Manufacturer
Sep 3 15
Intevac Inc. announced the order of an INTEVAC MATRIX thin-film processing system, by a Tier 1 solar cell manufacturer, for high-efficiency photovoltaic (PV) cell manufacturing. This new customer for MATRIX PVD (physical vapor deposition) will use the system to deposit integrated metal film stacks in advanced silicon solar cell designs, utilizing processes qualified in recent development work with Intevac. The system is scheduled to ship in the second quarter of 2016.
Intevac Inc. Presents at Jefferies Semiconductors, Hardware & Communications Infrastructure Summit, Aug-25-2015
Aug 10 15
Intevac Inc. Presents at Jefferies Semiconductors, Hardware & Communications Infrastructure Summit, Aug-25-2015 . Venue: Ritz Carlton Hotel, Chicago, Illinois, United States.
Intevac, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 4, 2015; Provides Earnings Guidance for the Third Quarter and Full Year of 2015
Aug 3 15
Intevac Inc. reported unaudited consolidated earnings results for the second quarter and six months ended July 4, 2015. For the quarter, the company reported total net revenues of $20,458,000 against $14,715,000 a year ago. Total operating income was $283,000 against total operating loss of $5,246,000 a year ago. Income before income taxes was $270,000 against loss before income taxes of $5,126,000 a year ago. Net income was $12,000 against net loss of $5,007,000 a year ago. Non-GAAP operating income was $109,000 against non-GAAP operating loss of $5,139,000 a year ago. Non-GAAP net loss was $162,000 against $4,900,000 a year ago. Non-GAAP loss per diluted share was $0.01 against $0.20 a year ago. Capital expenditures were $615,000.
For the six months, the company's net loss was $2.9 million, or $0.13 per share, compared to a net loss of $9.5 million, or $0.40 per share, for the first six months of 2014. The non-GAAP net loss was $2.9 million or $0.13 per share, compared to the first half 2014 non-GAAP net loss of $9.1 million or $0.38 per share. Revenues were $40.3 million compared to revenues of $31.7 million for the first six months of 2014. Total operating loss was $2,657,000 against $9,970,000 a year ago. Loss before income taxes was $2,591,000 against $9,778,000 a year ago. Non-GAAP operating loss was $2,709,000 against $9,585,000 a year ago.
For the third quarter of 2015, the company expects revenue guidance range of $13 million to $17 million. Third quarter gross margin is expected to be between 28% and 29%. Net loss is projected to be in the range of $0.21 to $0.26 per share based on an estimate of 22 million shares.
The outlook for the full year of 2015 has improved and now has between 5% and 10% upside from the 2014 revenue level, due mostly to the benefit of additional upgrades have seen in the HDD business in the first half. At this forecasted revenue level, the company continues to expect total gross margin for the year in the range of 32% to 34%. Cash burn for the full year is still expected to be approximately $5 million to $6 million, excluding any cash used for the company's stock repurchase program.