SANTA CLARA, Calif. — BUSINESS WIRE — August 11, 2003
Intevac, Inc. (Nasdaq:IVAC) received capacity expansion orders from two customers for Intevac(R) MDP-250 thin-film disk deposition systems. Both systems are scheduled for delivery during 2003.
Intevac Chief Executive Kevin Fairbairn commented: "These orders, in addition to the recently announced multi-year agreement to supply next-generation Intevac(R) 200 Lean systems, are solid evidence of the upturn in capital equipment spending we've been expecting. This recovery is the result of growing demand by hard disk manufacturers for additional production capacity.
"While we expect to more fully realize growth opportunities in systems sales in 2004, we are pleased to be seeing near-term improvement," Fairbairn added. "Industry conditions continue to improve, and this is creating a more positive business environment for Intevac."
About Intevac
Intevac produces sophisticated manufacturing equipment used in the manufacture of high technology products. Intevac's equipment products are designed to deposit or modify highly engineered thin-films of material on a variety of substrates. These systems are designed for continuous high volume manufacturing of precision thin-film products such as magnetic media for hard drives. Intevac is also developing revolutionary intensified imaging products that address potentially large commercial and military markets. Intevac's intensified imaging products are high-speed electro-optical devices that detect light with extraordinary sensitivity. The Company's proprietary technology makes possible products such as LIVAR(R), a long-range target identification system, and video cameras with night vision capability. For more information call 408-986-9888 or visit the Company's website at www.intevac.com.
Intevac(R) MDP-250, Intevac(R) 200 Lean and LIVAR(R) are trademarks of Intevac, Inc.
Safe Harbor Statement
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, statements related to the delivery dates for its MDP 250 thin-film deposition systems; the expected upturn in capital equipment spending; growing demand by hard disk drive manufacturers for additional production capacity; growth opportunities in system sales; improving industry conditions and the more positive business environment. 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 and other factors are detailed the Company's regular filings with the Securities and Exchange Commission.
CONTACT:
Intevac, Inc., Santa Clara
Charles Eddy, 408-986-9888
or
Silverman Heller Associates
Dan Matsui/Eugene Heller, 310-208-2550
SOURCE: Intevac, Inc.
