Intevac. (NASDAQ: IVAC) reported Q3 EPS of ($0.02), $0.05 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $26.3 million versus the consensus estimate of $25.07 million.

“In the third quarter, we continued to gain momentum as we drove our strategies for revenue growth and profitability,” commented Wendell Blonigan, president and chief executive officer of Intevac. “In Photonics, we booked a record order in July, which drove Photonics backlog to a new record of $76 million at quarter-end. We continue to see quarter-on-quarter revenue growth – and increasing operating profitability – for our Photonics business in 2019. In our Thin-film Equipment (“TFE”) growth initiatives, we continued to gain momentum through the successful installation of one VERTEX Spectra™ evaluation system, progress in the agreement finalization for a second VERTEX display cover glass evaluation system, the delivery of the remaining five ENERGi® systems in backlog, and steady progress in the build and test of our first MATRIX® PVD evaluation system for advanced semiconductor packaging, which we expect will be delivered in the fourth quarter. Meanwhile, Q3 revenues and profitability exceeded our forecast, primarily due to a stronger level of upgrades in our hard disk drive (“HDD”) equipment business, coupled with favorable gross margins in Photonics. Our progress to date increases our confidence for year-over-year revenue growth, both for Photonics and for TFE, as well as a return to profitable results for fiscal 2019.”

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