Intevac Announces New VERTEX™ Order

Tue, November 1 2016

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq:IVAC), a leading supplier of thin-film processing systems, today announced an INTEVAC VERTEX^TM system order from a new Tier-1 customer. The system will incorporate Intevac’s oDLC^TM (optical diamond-like carbon) enhanced scratch protection film, which has multiple applications for protective cover glass. Scheduled to ship during the fourth quarter, the company expects to recognize revenue on the system in the first half of 2017.

“We are pleased to announce this new VERTEX system order,” commented Wendell Blonigan, president and chief executive officer of Intevac. “Our proprietary oDLC solution is a new application garnering increasing market interest, demonstrated by the capacity order announced in June and this new customer order announced today.”

About INTEVAC VERTEX^TM

INTEVAC VERTEX^TM is a vertical in-line Physical Vapor Deposition (PVD) system optimized to apply thin-film coatings onto small substrates. VERTEX utilizes a modular design to minimize factory floor footprint while protecting operator investment with future process scalability. Designed for volume manufacturing and employing Intevac’s high target utilization technology, VERTEX addresses high-volume markets such as Consumer Electronics and Automotive which require low total Cost of Ownership (CoO).

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^TM and oDLC^TM 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 revenue recognition. 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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Intevac, Inc.
James Moniz, 408-986-9888
Chief Financial Officer
or
Claire McAdams, 530-265-9899
Investor Relations

Source: Intevac, Inc.