Intevac, Inc. (NASDAQ:IVAC) announced today an order for two 200 Lean ® magnetic disk sputtering systems. “We are pleased to announce our first 200 Lean order for 2012,” commented Kevin Fairbairn, president and chief executive officer of Intevac. “We expect to ship these systems in mid-2012 to support our customer’s requirements for the second half of the year.” 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, vacuum process equipment solutions. Our systems are production-proven for high-volume manufacturing of small 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 recently-introduced LEAN SOLAR™ platform, with applications including deposition, texture etch and ion implant, increases the conversion efficiency of silicon solar cells. In our Photonics business, we are a leader in the development and manufacture of leading-edge, high-sensitivity imaging products and vision systems as well as materials identification instruments utilizing Raman technology. Our products primarily address the defense markets in addition to the industrial, medical and scientific industries. For more information call 408-986-9888, or visit the company's website at www.intevac.com. 200 Lean® is a trademark of Intevac, Inc.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; anticipated system shipments and the timing of the 200 Lean shipments. 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: 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.
The most recent short interest data was recently released by the NASDAQ for the 11/14/2014 settlement date, and Intevac, Inc. is one of the most shorted stocks of the Russell 3000, based on 23.81 "days to cover" versus the median component at 5.85.