Intevac Receives PVD Deposition System Order for Mobility Market Application

Tue, April 22 2014

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (NASDAQ: IVAC) announced today that it has received an order for a thin-film physical vapor deposition (PVD) development system, configured to deposit diamond-like carbon (DLC). This system will be deployed into the touch screen cover glass manufacturing industry and is expected to ship mid-year and achieve qualification by year-end 2014.

“We look forward to working with our new Tier One customer on this application for the mobility marketplace,” commented Wendell Blonigan, president and chief executive officer. “For more than twenty years, Intevac has provided our hard disk drive media customers with high-productivity manufacturing technology. Our transparent DLC film, which is based on our industry-leading coating used in the hard disk media market, has been re-engineered for use in the protection of cover glass. This order demonstrates the extendibility of our production-proven platforms and technology into new thin film applications, such as anti-scratch coatings.”

About Intevac

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

In our 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 sole-source provider of integrated digital imaging systems for most U.S. military night vision programs.

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

Safe Harbor Statement

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 PVD system shipment and qualification. 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 and qualification dates 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.
Jeff Andreson
Chief Financial Officer
(408) 986-9888
Claire McAdams
Investor Relations
(530) 265-9899

Source: Intevac, Inc.