State of California
(State or other jurisdiction of incorporation or organization) |
0-26946
(Commission File Number) |
94-3125814
(IRS Employer Identification Number) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 Regulation FD Disclosure | ||||||||
Item 9.01. Financial Statements and Exhibits | ||||||||
Signatures | ||||||||
EXHIBIT INDEX | ||||||||
EXHIBIT 99.1 |
Item 7.01 | Regulation FD Disclosure |
Item 9.01. | Financial Statements and Exhibits |
99.1 | Needham and Company HDD Investor Day Presentation. |
INTEVAC, INC.
Date: September 4, 2008
By:
/s/ JEFFREY ANDRESON
Jeffrey Andreson
Vice President, Finance and Administration,
Chief Financial Officer, Treasurer and
Secretary
Table of Contents
Needham&CompanyHDDInvestorDayQ32008KevinFairbairnJeffAndresonChiefExecutiveOfficerChiefFinancialOfficer |
CautionaryDisclaimerDuringthecourseofthispresentation,wewillcommentuponfutureeventsandmaymakeprojectionsaboutourfuturefinancialperformance,includingstatementsrelatedtoourexpectedsales,productshipmentsandacceptance,grossmargin,operatingexpense,profit,cashflowandincometaxexpense.Wewilldiscussourbusinessstrategy,ourproducts,themarketsourproductsaddress,ourpositioninthosemarkets,expectedmarketacceptanceofthoseproductsandproductioncapacity.Wewishtocautionyouthatthes eareforwardlookingstatementsthatarebaseduponourcurrentexpectations,andthatactualresultscoulddiffermateriallyasaresultofvariousrisksanduncertainties,including,withoutlimitation,thefollowing:inabilitytodevelopanddelivernewproductsasplanned;inabilitytoaccuratelyforecastthedemandforourproductsandservices;thepossibilitythatordersinbacklogmaybecancelled,delayedorrescheduled;inabilitytoachievegrossmarginandexpensegoalsandotherriskfactorsdiscussedindocumentsfiledbyuswiththeSecuritiesandExchangeCommission,includingo urAnnualReportonForm10-KandQuarterlyReportsonForm10-Q.Weundertakenoobligationtoupdatetheforward-lookingstatementsmadeduringthispresentation. |
UniqueValuePropositionIntevacEquipmentHighProductivityToolsforAdvancedTechnologyApplications?HardDiskDriveIndustry-200Lean ® ?SemiconductorIndustry-LeanEtchIntevacPhotonicsLeaderinEnabling,CompactandCostEffectiveDigitalOpticalProducts?LowLightSensorsandCameras?MiniatureRamanInstruments?Near-EyeMicroDisplays |
IntevacTodayzEquipmentMarketLeaderMagneticMediaDiskMarketProvidesSignificantRevenueOpportunityIVAC-AdditionalcapacityShare65%-TechnologyupgradeszExpandingintoNewEquipmentMarketsMagneticMediaDiskMarketLeaderDielectricEtch$2BMarketzGrowingPhotonicsBusinessHighlyDifferentiatedProductTechnologyzStrongBalanceSheet$5.35PerShareinCash$8.33PerShareinTangibleBookValuezRecordofOperationalExcellenceFourStraightYearsofMarginImprovement |
MultipleGrowthOpportunitiesGoal:30%CAGRActual:56%CAGR(2003-2007)NewEquipmentMagneticMarketsMediaPhotonicsToday20102012 |
ExpandingIntevacEquipmentBusinessExpandApplicationsonExistingProducts200LeanDepositionSystem200LeanEtchSystemforPatternedMedia??2009Product??UltimatelyDoublesMarketStarting2010ExpandAddressedMarkets200LeanEtchSemiconductor??InitialFocusonMemoryMarket??2008/2009Qualification??2009H2ProductRamp |
MediaGrowthandTechnologyDriveIntevacHDDBusiness1,6001,4001,2001,000800UnitsinMillions600400200Consumer0Notebook2006200720082009201020112012ServerDeskTopPerpendicularPatternedMediaMediaCapacity&LegacySystemReplacementsSource:TrendFocusApril2008145More200LeanToolsRequiredBy2012+PatternedMediaUltimatelyDoublesMarket |
MediaTechnologyRoadmap10000250Gb/in2=320GB/Platter3.5InchDisk1000)2(Gbit/inDensity100Areal101200120022003200420052006200720082009201020112012Source:SemiconductorInternational,5/22/2008 |
200LeanMagneticMediaManufacturingSystemLeadingSystemforDiskProductionHighestOutputPerSquareFoot200LeanGenIIMajorUpgrade?25%HigherOutput?ImprovedPerformanceMetricsExtendabletoIndustrysTechnologyRoadmap?HAMR?PatternedMedia |
PatternedMediaManufacturingCleanMagneticMediaDepositionIntevac200Lean(Deposition)NewManufacturingPrimeMediaSurfaceStepsforPatternedMediaIntevacLithoPrimeApplyPatterntoMediaImprintLithographyEtchPatternintoMediaTestLubeDiskBurnishIntevac200Lean(Etch)IntevacAccuLuber |
LeanEtchEnablingTechnology,DoubletheThroughputEnablingEtchTechnologyfor45nmandBeyondAddressingNeedforSignificantProductivityImprovementsDesignedWithLeanThinkingPrinciplesUniversalEtchSystem |
IntevacPhotonicsIntevacVisionSystemsCameras&SensorsDeltaNuMicro-Display&ImageUniqueTechnologyforCompactRamanCaptureProductsforLowLightImagingSpectroscopySystemsforHead-MountedVisionReal-TimeMaterialIdentification?MilitaryHead-Mounted?MilitaryNightVision&?MicroscopyVision(Day/Night)Surveillance?MedicalDiagnostics?Training&Simulation?Spectroscopy?IndustrialInspection?Medical&Veterinarian?Microscopy?HAZMAT?InspectionScientificResearch? |
IntevacPhotonicsEnablingTechnologyforMilitaryApplicationsNear-EyeDisplayGoggleMicroDisplays100KUnitsDigital-EnhancedNightVisionDeltaNuStand-OffPortableRaman$600MLegacyMarketChemical,BiologicalThreatDetectionLIVARCamerasNightVisionSurveillanceCameras&SystemsLong-RangeViewing,RangeDetectionGround&AirborneUAV,UGVSurveillance |
RecordofOperationalImprovementExpandingMarginsinFluctuatingMarketConditions$30050%$25045%%M)Margin$$20040%(RevenuesGross$15035%$10030%$5025%$020%200220032004200520062007LTMSingaporeManufacturing14PercentagePointsAddedtoGrossMarginOnSameRevenues:LTMvs.FY2005 |
InvestmentRationaleEquipmentMediaCapacityandTechnologyTransition?$2BDielectricEtchMarketSignificantGrowthPhotonicsOpportunitiesGrowingProductRevenuesGovernmentandOEMHighlyDifferentiatedProgramsApproachingTechnologyProductsVolumeRampManagementTeamwithProvenTrackRecordStrongBalanceSheetGlobalInfrastructure |
Needham&CompanyHDDInvestorDayQ32008KevinFairbairnJeffAndresonChiefExecutiveOfficerChiefFinancialOfficer |