Key Developments For Intevac, Inc.
Intevac, Inc. (IVAC.O) (Consolidated Issue listed on NASDAQ Global Market)
Intevac, Inc. Issues Q4, FY 2009 Guidance Below Analysts' Estimates-Conference Call
Intevac, Inc. announced that for fourth quarter of 2009, it expects consolidated revenue to be in the range of $34-$36 million, net income to be in breakeven to $0.03 per share (EPS), which includes an estimated $1 million of pretax stock based compensation expense equivalent to $0.03 per share, as as well as anticipated net tax benefit net tax expense and expects pretax profitability at both ends of the revenue guidance. For fiscal 2009, it expects revenue to be in the range of $78-$80 million, loss to be in the range of $0.52-$0.55 per share, which includes an estimated $4.5 million dollars of stock-based compensation expense equivalent to $0.15 per share. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $40 million and EPS of $0.11 for fourth quarter of 2009; revenue of $82 million and EPS of $(0.5) for fiscal 2009.
Intevac, Inc.'s Intevac Photonics Receives $7 Million Subcontract Award For EBAPS Sensor And Camera Development
Intevac Photonics, a subsidiary of Intevac, Inc., announced that it has received a multi-year award from the U.S. Government in the amount of $7 million for the development of a four mega-pixel, low light level sensor and camera. This sensor is based on Intevac`s patented EBAPS (Electron Bombarded Active Pixel Sensor) design, which utilizes CMOS technology to produce digital imaging sensors for extreme low light level detection. Both the sensor and camera will be available for use in a variety of applications beginning in 2011.
Intevac, Inc. Receives Order for Two 200 Lean Systems
Intevac, Inc. announced that it has received an order for two 200 Lean Gen II deposition systems with expected shipment in the fourth quarter of 2009.
XSUNX, Inc. And Intevac, Inc. Team Up To Develop Thin-Film Photovoltaic Manufacturing Technology
XSUNX, Inc. and Intevac, Inc. announced that they are working under a Joint Business Agreement to collaborate in the development of techniques and equipment for the production of commercially marketable processes and equipment for the manufacture of CIGS (copper indium gallium selenide) thin-film solar cells. Through the combination of cross-industry specialties, XsunX and Intevac plan to develop a new breed of TFPV manufacturing techniques to produce thin-film solar cells. By teaming up, the companies plan to effectively combine Intevac's unparalleled expertise and years of technological improvements developed for the sophisticated HDD manufacturing industry with XsunX's experience in the TFPV industry, which includes senior staff with years of commercially successful CIGS related technology development.
Intevac, Inc. Issues Q3 2009 Outlook; Earnings Outlook Above Analysts' Estimates-Conference Call
Intevac, Inc. announced that for the third quarter of 2009, it expects revenues to be in the range of $13 to $18 million and a loss in the range of $0.13 to $0.22 per share, which includes an estimated $1 million of pretax stock-based compensation expense equivalent to $0.03 per share, as well as an anticipated net tax benefit. The Company expects to be profitable in the fourth quarter of 2009. According to Reuters Estimates, analysts on an average were expecting the Company to report loss per share of $0.23 on revenue of $13 million for the third quarter of 2009.
