Intevac Receives $10 Million Orders

Intevac, Inc., a supplier of thin-film processing systems, announced the receipt of $10 million in new orders for technology upgrades for its HDD drive customers.

Scheduled to be completed by year-end, these upgrades provide new and enhanced technologies to enable Intevac’s customers to continue to progress along their media technology roadmaps.

“This order reflects our ongoing partnerships with our customers and the increasing demand for the industry’s most advanced media technology,” said Jay Cho, EVP and GM, Intevac’s Thin-Film Equipment (TFE) business.

As the new orders announced were previously anticipated, the expected revenues for these upgrades are already reflected in the company’s 2021 TFE forecast provided as of the May 3, 2021 conference call.