Intevac Announces $10 Million Expansion of Existing $30 Million Share Repurchase Program
“Intevac’s management team and board of directors firmly believe in our
long-term growth prospects, and we are also committed to efficient
capital allocation,” said
In our Thin-film Equipment business, we are a leader in the design and development of high-productivity, thin-film processing systems. Our production-proven platforms are designed for high-volume manufacturing of substrates with precise thin film properties, such as the hard drive media, display cover panel, and solar photovoltaic markets we serve currently.
In our Photonics business, we are a recognized leading developer of advanced high-sensitivity digital sensors, cameras and systems that primarily serve the defense industry. We are the provider of integrated digital imaging systems for most U.S. military night vision programs.
For more information call 408-986-9888, or visit the Company's website at www.intevac.com.
Forward Looking Statements
This press release contains forward-looking statements including, but
not limited to, statements regarding the company's plans for
repurchasing company stock under the approvals granted by the board and
confidence in business prospects. Although the company believes that the
expectations reflected in the forward-looking statements are reasonable,
these plans are dependent on the company’s future financial condition
and its determinations of the continued value of a repurchase program,
changing customer demands and/or business conditions, the
competitiveness of our products and management’s ability to achieve
financial and cash generation performance. For additional information
and considerations regarding the risks faced by
James Moniz, 408-986-9888
Chief Financial Officer
Claire McAdams, 530-265-9899