Intevac (IVAC) Releases Earnings Results, Beats Expectations By $0.10 EPS

Intevac (IVAC) reported quarterly earnings results on Monday, Aug-1-2016. The company said it had a profit of $-0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $-0.28. The company posted revenue of $14.90 million in the period, compared to analysts expectations of $14.37 million. The company’s revenue was down -27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on Intevac. Company shares were Upgraded by The Benchmark Company on Jun 8, 2016 to ” Buy”, Firm has raised the Price Target to $ 6.50 from a previous price target of $5.50 .

Intevac closed down -0.06 points or -1.04% at $5.73 with 6,529 shares getting traded on Friday. Post opening the session at $5.9, the shares hit an intraday low of $5.68 and an intraday high of $5.9 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 10, 2016, Matthew A Drapkin (director) purchased 38,820 shares at $5.43 per share price. According to the SEC, on Jun 9, 2016, Michael A Russak (Executive Advisor) sold 1,902 shares at $5.31 per share price. On Aug 20, 2015, Christopher Smith (VP, Business Development) sold 4,300 shares at $5.01 per share price, according to the Form-4 filing with the securities and exchange commission.

Intevac Inc. provides process manufacturing equipment solutions to the hard disk drive industry and offers high-productivity thin-film processing systems to the photovoltaic (PV) industry. The Company also provides sensors cameras and systems for government applications such as night vision and long-range target identification. The Company’s customers include manufacturers of hard disk drives PV cells and cell phones as well as the United States government and its agencies and contractors. The Company has two segments which include Equipment and Photonics. The Company’s products are used in the defense market. The Company provides process and applications support customer training installation start-up assistance and post-installation service support to its equipment customers. The Company manufactures its Equipment products at its facilities in California and Singapore. Its operations include vacuum processing and electromechanical and optical system assembly.


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