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UPDATE 1-Intevac Q3 beats Wall Street on better margins
* Q3 EPS $0.58 vs est $0.44
* Q3 rev $64.6 mln vs est $62.8 mln
* Shares up 5 percent
Nov 1 (Reuters) - Intevac Inc (IVAC.O), which makes equipment used by hard disk drive manufacturers, posted better-than-expected quarterly results on better margins, sendng its shares up 5 percent in extended trading.
For the quarter ended Oct. 2, the company, which also supplies equipment to chipmakers and manufactures optical sensors, earned $13.2 million, or 58 cents a share, compared with a loss of $1.8 million, or 8 cents a share a year ago.
Revenue rose more than three folds to $64.6 million. Equipment sales contributed $55.9 million.
Analysts on average were expecting the Santa Clara, California-based company to earn 44 cents a share on $62.8 million in revenue, according to Thomson Reuters I/B/E/S.
The company, which counts Seagate Technology PLC (STX.O) and Hitachi Ltd (6501.T) as its biggest customers, realized slightly better consolidated gross margins of 45.8 percent, primarily on better margins from its equipment business.
Shares of the company were up at $10.10 in trading after the bell. They closed at $9.73 on Monday on Nasdaq. (Reporting by Himank Sharma in Bangalore; Editing by Maju Samuel)
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