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Intevac to Deliver its 2nd VERTEX Spectra™ Evaluation System to a Leading Display Cover Glass Manufacturer

Mon, 02 Mar 2020 00:00:00

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, today announced it has closed an agreement with a leading display cover glass manufacturer to place an INTEVAC VERTEX® system for evaluation at their facility. Scheduled to ship this quarter, this VERTEX Spectra™ system is configured to process unique and differentiated decorative coatings, targeted initially for back cover applications on next-generation handset models.

“After experiencing a delay in closing our final agreement, caused by the extended lunar New Year and subsequent quarantine period, we are very pleased to announce that our 2nd VERTEX evaluation system is now scheduled to be installed at a leading display cover glass manufacturer,” commented Wendell Blonigan, president and chief executive officer of Intevac. “The versatile VERTEX Spectra system enables multiple film stack configurations, supporting evaluation activity by multiple handset manufacturers.”

Equipped with Intevac’s proprietary Ion Beam Assisted Deposition (IBAD) and Ion Beam Etching (IBE) technologies, the VERTEX Spectra deposits decorative coatings with unique patterning effects for smartphone glass back covers. The IBAD technology can also be used to deposit hard optical anti-reflective (AR) coatings that are highly resistant to scratching and abrasion.

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, such as the hard drive media, display cover panel, and solar photovoltaic markets we serve currently.

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.

For more information, call 408-986-9888 or visit the company's website at www.intevac.com.

INTEVAC VERTEX® and VERTEX SpectraTM are trademarks of Intevac, Inc.

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 shipment and the films processed. 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, 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 periodic filings with the U.S. Securities and Exchange Commission.

James Moniz
Chief Financial Officer
(408) 986-9888

Claire McAdams
Investor Relations
(530) 265-9899

Source: Intevac, Inc.