Intevac Announces Preliminary Fourth Quarter 2017 Financial Results

Publicado el 22 ene. 2018
Intevac, Inc. announced preliminary financial results for the fourth quarter and full year 2017. Revenues for the fourth quarter were $24.8 million, in line with prior guidance, and included $6.9 million in Photonics revenues, two 200 Lean systems in Thin-film Equipment revenues, and service and upgrade sales to hard drive customers. Profitability exceeded guidance and is expected to be at breakeven, plus or minus $0.01 per share, subject to any final tax adjustments. For the full year, total revenues were $112.8 million, with net earnings in the range of $0.17 to $0.18 per diluted share.

"As expected, 2017 was a strong growth year for Intevac's Thin-film Equipment business, and total revenues were up 41% year-over-year," commented Wendell Blonigan, president and chief executive officer of Intevac. "We continue to work towards booking new follow-on orders of our INTEVAC VERTEX® system in the display cover panel market, where our existing and potential new customers continue to evaluate our oDLC™ protective thin-film coating solution for multiple cover glass applications. We are also in discussions with our solar customer to determine a delivery schedule for the remaining ENERGi® systems in backlog. We will provide an update on each of our businesses, and our preliminary outlook for 2018, on our Q4 2017 conference call later this month."

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