Intevac Announces First Quarter 2020 Financial Results
Intevac, Inc. (IVAC)
Last intevac, inc. earnings: 4/27 04:05 pm
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Source: Business Wire
SANTA CLARA, Calif.--(BUSINESS WIRE)--Intevac, Inc. (Nasdaq: IVAC) today reported financial results for the first quarter ended March 28, 2020.“Today we are pleased to report stronger-than-expected results for the first quarter of 2020, especially in light of the stress placed on our operations and supply chain as a result of the COVID-19 global pandemic,” commented Wendell Blonigan, president and chief executive officer of Intevac. “During the quarter, we made several exciting announcements, including the debut of our branded Diamond Dog™ screen protectors, over $11 million of new contract awards in our Photonics business, and the finalization of the agreement to install a second INTEVAC VERTEX® evaluation system at a leading display cover glass manufacturer. Late in the quarter, our Santa Clara operations were impacted by the ‘shelter-in-place’ order that commenced in the Bay Area region on March 17th; however, with both our Thin-film Equipment (TFE) and Photonics businesses des
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