Intevac Announces Multi-System HDD Order for 200 Lean® Systems
Thu, October 25 2018
SANTA CLARA, Calif.--(BUSINESS WIRE)--
Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing
systems, today announced the receipt of an order for four 200 Lean®
systems. With this order, backlog for the 200 Lean grows to
seven systems, six of which are scheduled to ship in 2019.
“We are very pleased to announce a multi-system order for our
industry-leading 200 Lean systems,” said Wendell Blonigan, president and
chief executive officer of Intevac. “Over the past couple of years, our
hard drive business has strengthened as a result of the growth in demand
for high-performance nearline drives, which require the latest
technology available for HDD magnetic media sputtering. At the same
time, media unit demand in 2018 has well outpaced all previous
estimates, and has returned to year-over-year growth for the first time
since 2010.”
“This order reflects our ongoing partnerships with our customers and the
increasing demand for the industry’s most advanced media technology,”
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
industry’s 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.
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 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: https://www.businesswire.com/news/home/20181025005299/en/
Intevac, Inc.
James Moniz, 408-986-9888
Chief Financial Officer
or
Claire
McAdams, 530-265-9899
Investor Relations
Source: Intevac, Inc.
