Intevac Announces Agreement to Deliver its New VERTEX Spectra™ System to Leading Display Cover Glass Manufacturer

Mon, May 20 2019

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 its newest system, the VERTEX Spectra™, for evaluation at their facility. Scheduled to ship in June, this system is configured to process unique and differentiated decorative coatings, targeted initially for back cover applications on next-generation handset models.

“After driving our internal strategy to place seed VERTEX assets into the field for several quarters, we are very pleased to announce that our newest system, the VERTEX Spectra, is now scheduled to be installed at a leading display cover glass manufacturer,” commented Wendell Blonigan, president and chief executive officer of Intevac. “This evaluation system enables regional accessibility to Intevac’s technology, and will support the fast design turns required to meet smartphone OEMs’ aggressive product development cycles. The versatile VERTEX Spectra system enables new, differentiated, and fully-integrated film stack configurations that will expand the freedom and options available in the design of next-generation smartphones.”

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 VERTEX Spectra^TM

Intevac’s VERTEX Spectra^TM is an extension of the VERTEX oDLC® system, which provides cost-effective solutions for the growing demand for hard anti-reflective (AR) and unique patterned decorative coatings for smartphone cover glass. The VERTEX Spectra enables the incorporation of multiple technologies on a single system, including Intevac’s proprietary Ion Beam Assisted Deposition (IBAD) and Ion Beam Etch (IBE) technologies, as well as the Physical Vapor Deposition (PVD) technology used to deposit the company’s oDLC protective film. Designed for volume manufacturing, the VERTEX Spectra utilizes a modular design to minimize factory floor footprint while protecting operator investment with future process scalability and high target utilization.

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®, VERTEX Spectra^TM and oDLC® 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 and customer acceptance 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.

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James Moniz
Chief Financial Officer
(408) 986-9888

Claire McAdams
Investor Relations
(530) 265-9899

Source: Intevac, Inc.