Intevac Receives $6.9 Million Production Contract from U.S. Army
Thu, December 20 2018
SANTA CLARA, Calif.--(BUSINESS WIRE)--
Intevac Inc. (Nasdaq: IVAC), announced today it received a contract for
$6.9 million for the production of night vision cameras for the Apache
Helicopter's Pilot Night Vision Sensor (PNVS) program for the U.S. Army.
This contract for 144 cameras, from the U.S. Army's PM Apache Office in
Huntsville, Alabama, will provide cameras for new Apache Airframe
builds, Foreign Military Sales (FMS) orders, and spares. This contract
vehicle enables the U.S. Army to procure additional units through May
2020 at pre-negotiated pricing.
The Electronic Image Intensification camera is based on Intevac's
patented EBAPS® (Electron Bombarded Active Pixel Sensor) digital imaging
sensor for extreme low-light level detection.
“Intevac finished deliveries outfitting the U.S. Apache fleet, spares
and initial FMS customer orders in September of 2017. We are excited to
be delivering additional cameras to support our warfighters effort,”
commented Timothy Justyn, executive vice president and general manager
of Intevac Photonics. “Since becoming a Prime supplier in 2013,
Intevac’s success in fielding cameras to the U.S. Army played a
significant role in winning this business.”
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.
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
quantity of camera deliveries. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181220005816/en/
James Moniz
Chief Financial Officer
(408) 986-9888
Claire McAdams
Investor Relations
(530) 265-9899
Source: Intevac Inc.
