Intevac Announces Multi-System HDD Order for 200 Lean Systems
Thu, May 19 2016
SANTA CLARA, Calif.--(BUSINESS WIRE)--
Intevac, Inc. (Nasdaq:IVAC), a leading supplier of thin-film processing
systems, today announced the receipt of a multi-system order for 200
Lean® systems, equipped with the latest technology enhancements for HDD
magnetic media sputtering.
“We are extremely pleased to announce an order for four systems to be
delivered over the next nine months,” said Wendell Blonigan, president
and chief executive officer of Intevac. “These tools incorporate the
latest and most advanced technologies required to support our customers’
product roadmaps. The first three systems are scheduled to ship in the
fourth quarter and support our confidence in revenue growth of up to 10%
this year, compared to 2015, as discussed during our Q1 conference call.”
“We have had long and productive relationships with our HDD customers,
and continue in a tradition of partnership with this engagement,” said
Jay Cho, executive vice president and general manager of Intevac’s
Thin-film Equipment business.
About the 200 Lean
Intevac’s 200 Lean is the world’s leading production deposition tool for
Hard Disk Drive (HDD) media manufacturing. The system takes advantage of
Intevac’s portfolio of technology innovations that improve disk media
performance while utilizing an efficient platform design that provides
high throughput from a small footprint. The 200 Lean delivers the
industries best output per square-foot of factory floor space and lowest
cost of ownership.
200 Lean® is a registered trademark of Intevac,
Inc.
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.
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 200 Lean shipments. 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: http://www.businesswire.com/news/home/20160519005340/en/
Intevac, Inc.
James Moniz, 408-986-9888
Chief Financial Officer
or
Claire
McAdams, 530-265-9899
Investor Relations
Source: Intevac, Inc.
