Intevac Inc.

$IVAC - Nasdaq - Computers and Electronic Equipment
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Press Release $IVAC Intevac Inc.

0 COMMENTs 24 Oct
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Intevac Receives PVD System Order for High Efficiency Solar Cell Manufacturing

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC) announced today that it has received an order for a high-throughput physical vapor deposition (PVD) system to be deployed into the crystalline silicon solar cell manufacturing industry. The expected delivery is mid-2014.

“We look forward to working with this new Tier One solar cell manufacturing customer,” commented Wendell Blonigan, president and chief executive officer of Intevac. “Our high-throughput thin film deposition system is capable of depositing a variety of films, including critical metal films required for advanced silicon solar cell manufacturing. Our system helps enable our customers to manufacture high-efficiency solar cells at low cost.”

About Intevac

Intevac was founded in 1991 and has two businesses: Equipment and Intevac Photonics.

In our Equipment business, we are a leader in the design, development and manufacturing of high-productivity process equipment solutions. Our systems are production-proven for high-volume manufacturing of substrates with precise thin film properties, such as those required in the hard drive and solar cell markets we currently serve.

In the hard drive industry, our 200 Lean® systems process approximately 60% of all magnetic disk media produced worldwide. In the solar cell manufacturing industry, our high throughput thin film deposition systems enable the increase of conversion efficiency of silicon solar cells while reducing costs simultaneously.

In our Photonics business, we are a leader in the development and manufacture of leading-edge, high-sensitivity imaging products and vision systems. Our products primarily address the defense markets.

For more information call 408-986-9888, or visit the company's website at www.intevac.com.

Safe Harbor Statement

This press release includes statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Intevac claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,“ “projects,” “expects,” or “anticipates,” and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to; the timing of the PVD shipment. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the company’s expectations. These risks include, but are not limited to: the failure to meet planned shipment dates which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the company’s regular filings with the U.S. Securities and Exchange Commission.

For Intevac, Inc.
Jeff Andreson
Chief Financial Officer
(408) 986-9888
or
Claire McAdams
Investor Relations
(530) 265-9899

Source: Intevac, Inc.

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