Intevac. (IVAC) Tops Q3 EPS by 5c
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Intevac. (NASDAQ: ) reported Q3 EPS of ($0.02), $0.05 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $22.6 million versus the consensus estimate of $21.88 million.
“We are pleased to announce financial results for the third quarter that exceeded our expectations,” commented Wendell Blonigan, Intevac’s president and chief executive officer. “In our Thin-film Equipment business, backlog increased again with the receipt of an order for two 200 Lean systems. We are also pleased to announce an order for our VERTEX™ system from a new Tier-1 customer today, which together with the new orders received in the first three quarters of the year, brings total Thin-film Equipment orders to over $60 million in 2016 to date. This the highest level of Thin-film Equipment orders we have achieved since 2010, demonstrating the continued execution of our growth initiatives, with new system bookings for every one of our product platforms, and into every end market we serve. In Photonics, we continue to achieve strong financial performance exceeding the target profitability for this business, and in the third quarter we received an additional $4 million in Apache orders for foreign military sales.”
For earnings history and earnings-related data on Intevac. (IVAC) click here.
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