Maxim Group Upgrades Intevac (IVAC) to Buy
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Intevac Announces First Quarter 2016 Financial Results
May 2, 2016 4:05 PM EDTSANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (Nasdaq: IVAC) today reported financial results for the first quarter ended April 2, 2016.
We are pleased to report financial results exceeding our expectations for the first quarter of 2016, primarily due to the successful sign-off and rapid customer acceptance achieved for our second VERTEX system shipped to a leading display cover panel customer, commented Wendell Blonigan, president and chief executive officer of Intevac. The rapid conversion of this tool from purchase order to revenue recognition demonstrates both the production-worthiness of our system and our customers desire to... More
