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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150720006319/en/
Intevac, Inc.
Jim Moniz, 408-986-9888
Chief Financial Officer
or
Claire
McAdams, 530-265-9899
Investor Relations
Source: Intevac, Inc.
