Intevac Announces New VERTEX System Order for Display Cover Panel

Mon, July 20 2015

Additional Tier 1 Display Company Adopts Intevac’s Protective Coating Solution

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film deposition equipment, today announced that a new Tier 1 display customer has ordered a VERTEXTM Physical Vapor Deposition (PVD) system. Scheduled to ship in the fourth quarter of 2015, this system will be used to provide enhanced scratch protection on mobile device displays, camera lenses, and glass covers.

“We are pleased to announce a second Tier 1 display customer for our VERTEX PVD system,” commented Jay Cho, executive vice president and general manager of Intevac’s Thin-Film Equipment business. “Our protective coating delivers unmatched performance as a cost-effective, optically-transparent, scratch-protective film for the display cover panel market. Winning a second Tier 1 display customer in Asia is a key milestone toward commercial adoption.”

Intevac capitalized on its expertise in small-substrate processing and protective coatings from the hard drive media market to develop the VERTEX PVD system; offering a high-throughput manufacturing solution, with precise thin-film deposition on small substrates.

“This new VERTEX PVD order demonstrates meaningful progress toward our Thin-Film Equipment growth strategy,” added Wendell Blonigan, president and chief executive officer of Intevac. “Building upon our core competencies in high-productivity thin-film processing of small substrates, we are making outstanding progress in expanding our Thin-Film Equipment business into the large and growing mobility marketplace.”

About Intevac

Intevac was founded in 1991 and has two businesses: Thin-Film Equipment and Photonics.

In our Thin-Film Equipment business, we are 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.

Intevac is the market and technology leader in the hard drive industry, with our systems processing approximately 60% of all magnetic disk media produced worldwide. Our high-performance, high-throughput technology solutions continue to expand into additional markets – including solar and adjacent thin film deposition applications.

In our Photonics business, we are a recognized leading developer of advanced high-sensitivity digital sensors, cameras and systems that primarily serve the defense industry. We are the provider of integrated digital imaging systems for most U.S. military night vision programs.

INTEVAC VERTEXTM is a trademark of Intevac, Inc.

For more information, call 408.986.9899, or visit www.intevac.com.

Forward-Looking Statements

This press release includes statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Intevac claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,“ “projects,” “expects,” or “anticipates,” and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to; the timing of the VERTEX system shipment, and the expected uses of the system. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the company’s expectations. These risks include, but are not limited to: the failure to meet planned shipment dates and/or address planned applications for the system, which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the company’s regular filings with the U.S. Securities and Exchange Commission.

Intevac, Inc.
Jim Moniz, 408-986-9888
Chief Financial Officer
Claire McAdams, 530-265-9899
Investor Relations

Source: Intevac, Inc.