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Stock impact report

Intevac Announces First Quarter 2022 Financial Results

Intevac, Inc. (IVAC) 
Last intevac, inc. earnings: 4/27 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.intevac.com/events.cfm
Company Research Source: Business Wire
SANTA CLARA, Calif.--(BUSINESS WIRE)--Intevac, Inc. (Nasdaq: IVAC) today reported financial results for the first quarter ended April 2, 2022.Q1 Highlights:Achieved new 12-year record high in quarterly bookings and backlog for thin-film equipmentNew orders totaled $67 millionBacklog increased to $87 millionBooked $54 million order for multiple 200 Lean® systemsAnnounced multi-year upgrade and refurbishment agreement valued at over $20 millionCompleted significant amount of restructuring activities, which included streamlining the Company by eliminating one layer of senior management, as well as ceasing development and marketing activities in multiple growth initiativesLimited the Company’s use of cash in Q1 to transaction-related costs, ending the quarter with total cash, cash equivalents, restricted cash, and investments of $117 million“The first quarter of 2022 marked multiple important achievements for Intevac, which together build the foundation for future growth and profitabi Show less Read more
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