Intevac Receives Ion Implant System Order from Tier 1 Solar Cell Manufacturer

Tue, September 29 2015

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (NASDAQ:IVAC), a leading supplier of thin-film deposition equipment to the vacuum coating industry, today announced the order of a system configured with ion implantation source technology from a Tier 1 solar cell manufacturer. The system is scheduled to ship in the second half of 2016.

Wendell Blonigan, Intevac’s president and chief executive officer, commented about the order: “This new order for a system configured with our ion implantation source technology demonstrates continued and meaningful progress in our Thin Film Equipment growth strategy. Securing this order from a Tier 1 solar cell manufacturer is an important milestone that validates the capability and value proposition of our implant technology for advanced solar cell manufacturing."

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.

Intevac is the market and technology leader in the hard drive industry, with our systems processing approximately 60% of all magnetic disk media produced worldwide. Our high-performance, high-throughput technology solutions continue to expand into additional markets – including solar and adjacent thin film deposition applications.

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 night vision imaging systems for the U.S. military.

For more information, call 408.986.9899, or visit 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 system shipment. 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 regular filings with the U.S. Securities and Exchange Commission.

Intevac, Inc.
Jim Moniz, (408)-986-9888
Chief Financial Officer
Claire McAdams, (530)-265-9899
Investor Relations

Source: Intevac, Inc.