Intevac, Inc. Provides Earnings Guidance for the First Quarter and Full Year 2020
January 30, 2020 at 03:00 am IST
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Intevac, Inc. provided earnings guidance for the first quarter and full year 2020. For the first quarter, the company projecting consolidated revenues to be between $18 million and $18.5 million. The company expected interest income of around $200,000. The company projecting a net loss in the range of $0.12 to $0.14 per share based on 23.5 million shares outstanding.
For the full year 2020, First, in Photonics and military digital night vision, we have the backlog and the multiyear visibility to forecast strong growth ahead for 2020. the company currently expect year-over-year growth in the range of 20% to 25%, which would be a historical record amount for the business. Second, in hard drive, which we believe will be relatively stable and profitable for the foreseeable future, The company expects to see some softening in 2020 based on lower tool sales. Current outlook is that sales of energy systems in 2020 will be comparable revenue-wise to the roughly $15 million recorded in 2019.
Intevac, Inc. is a provider of thin-film process technology and manufacturing platforms for high-volume manufacturing environments. The Company operates through a single segment, which is Thin Film Equipment (TFE). The TFE segment designs, develops and markets vacuum process equipment solutions for high-volume manufacturing of small substrates with precise thin-film properties, such as for the hard disk drive (HDD) and advanced coatings (ADVC) markets, as well as other adjacent thin-film markets. In HDD Equipment Market, it designs, manufactures, markets and services complex capital equipment used to deposit thin films and lubricants onto substrates to produce magnetic disks. In ADVC Market, the Company develops equipment to deposit optically transparent thin films onto display cover panels typically found on consumer and automotive electronics products. Its products include 200 Lean Disk Sputtering System, TRIO, and upgrades, spares, consumables and services (non-systems business).
INTEVAC, INC. 
