Intevac. (IVAC) Tops Q1 EPS by 6c, Revenues Beat

Intevac. (NASDAQ: IVAC) reported Q1 EPS of ($0.10), $0.06 better than the analyst estimate of ($0.16). Revenue for the quarter came in at $24.8 million versus the consensus estimate of $23.4 million.

“We were pleased to deliver first-quarter results that were stronger than forecast, due to upside in our hard drive system upgrades business and continued close control of expenses,” commented Wendell Blonigan, president and chief executive officer of Intevac. “After record orders for our Photonics business in Q4, in Q1 we continued to make progress toward realizing the future revenue growth potential for our next-generation digital night vision technologies. In our Thin-film Equipment (“TFE”) growth initiatives, we shipped and recognized revenue on four ENERGi® systems during the quarter, with the remaining five systems in backlog on track to be delivered this year. Importantly, we made significant progress in our strategy to place an INTEVAC VERTEX® system with a leading display cover glass manufacturer in order to enable rapid, in-region design turnarounds of our patterned decorative and durable anti-reflective film deposition capabilities. These successes continue to support our growth and profitability objectives for 2019.”

For earnings history and earnings-related data on Intevac. (IVAC) click here.

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