Intevac, Inc. (Nasdaq:IVAC) announced today that it has received an order for an Ion Implant ENERG i™ system, scheduled to ship in the first quarter of 2013. “We are pleased to announce this initial order for our ENERG i system. This first production order is a result of the successful completion of the initial phase of an evaluation agreement we have with a large Asian cell manufacturer,” commented Chris Smith, executive vice president and general manager. “This is a significant milestone in our equipment diversification strategy and demonstrates Intevac’s ability to understand customer needs and deliver technology for increased cell efficiency and reduced costs,” further commented Norm Pond, chairman and chief executive officer. The compact ion implant ENERG i system meets the cost, efficiency and productivity requirements of solar cell manufacturing and is the most cost-effective doping solution. ENERG iincorporates enabling technologies that align with today’s solar industry cost reduction roadmap and is extendible to accommodate future advanced cell architectures and efficiency requirements. 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. 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 LEAN SOLAR™ systems increase 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.
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.