State of Delaware | 0-26946 | 94-3125814 | ||
(State or other jurisdiction
of incorporation or organization) |
(Commission File Number) |
(IRS Employer
Identification Number) |
(c)
Exhibits
99.1
Press Release.
INTEVAC, INC.
Date: May 3, 2010
/s/ JEFFREY ANDRESON
Jeffrey Andreson
Executive Vice President, Finance and Administration,
Chief Financial Officer, Treasurer and Secretary
3560 Bassett Street, Santa Clara CA 95054 | ||
Jeff Andreson
|
Claire McAdams | |
Chief Financial Officer
|
Investor Relations | |
(408) 986-9888
|
(530) 265-9899 |
| Record backlog of $152.3 million | |
| Total revenues of $33.1 million, up 169% year-on-year | |
| Gross margin of 43.7%, up 9.1% year-on-year | |
| Third consecutive quarter of record Photonics revenues | |
| Business agreement signed with a new solar customer |
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share amounts)
Three months ended
April 3,
March 28,
2010
2009
$
25,557
$
6,118
7,585
6,190
33,142
12,308
14,478
4,265
48.7
%
29.9
%
26.7
%
39.4
%
43.7
%
34.7
%
6,544
8,030
6,567
5,709
13,111
13,739
3,880
(6,811
)
(1,184
)
(1,221
)
(1,329
)
(1,442
)
1,367
(9,474
)
391
430
1,758
(9,044
)
328
(3,271
)
$
1,430
$
(5,773
)
$
0.06
$
(0.26
)
$
0.06
$
(0.26
)
22,196
21,882
22,975
21,882
April 3, | December 31, | |||||||
2010 | 2009 | |||||||
(Unaudited) | (see Note) | |||||||
ASSETS
|
||||||||
Current assets
|
||||||||
Cash, cash equivalents and short-term investments
|
$ | 47,330 | $ | 23,592 | ||||
Accounts receivable, net
|
32,803 | 44,756 | ||||||
Inventories
|
30,229 | 19,100 | ||||||
Deferred tax assets
|
1,492 | 1,515 | ||||||
Prepaid expenses and other current assets
|
6,950 | 6,687 | ||||||
|
||||||||
Total current assets
|
118,804 | 95,650 | ||||||
|
||||||||
Long-term investments
|
65,329 | 66,249 | ||||||
Property, plant and equipment, net
|
11,791 | 12,351 | ||||||
Deferred tax assets
|
16,530 | 16,541 | ||||||
Goodwill
|
7,905 | 7,905 | ||||||
Other intangible assets, net
|
3,398 | 3,537 | ||||||
Other long-term assets
|
1,033 | 1,145 | ||||||
|
||||||||
Total assets
|
$ | 224,790 | $ | 203,378 | ||||
|
||||||||
|
||||||||
LIABILITIES AND STOCKHOLDERS EQUITY
|
||||||||
|
||||||||
Current liabilities
|
||||||||
Accounts payable
|
$ | 15,524 | $ | 4,701 | ||||
Accrued payroll and related liabilities
|
5,413 | 2,784 | ||||||
Other accrued liabilities
|
3,960 | 11,104 | ||||||
Customer advances
|
25,712 | 13,180 | ||||||
|
||||||||
Total current liabilities
|
50,609 | 31,769 | ||||||
|
||||||||
Other long-term liabilities
|
307 | 252 | ||||||
Stockholders equity
|
||||||||
Common stock ($0.001 par value)
|
22 | 22 | ||||||
Additional paid in capital
|
135,574 | 134,071 | ||||||
Accumulated other comprehensive loss
|
(2,244 | ) | (1,828 | ) | ||||
Retained earnings
|
40,522 | 39,092 | ||||||
|
||||||||
Total stockholders equity
|
173,874 | 171,357 | ||||||
|
||||||||
Total liabilities and stockholders equity
|
$ | 224,790 | $ | 203,378 | ||||
|