Intevac Announces LIVAR Digital Camera Production Orders

Intevac Photonics, a subsidiary of Intevac, Inc. (Nasdaq: IVAC) today announced the receipt of two production orders during the fourth quarter ended December 31, 2012, for its LIVAR® (Laser Illuminated Viewing and Ranging) digital cameras from Northrop Grumman Corporation (NYSE: NOC). These digital cameras are for use in airborne, long-range target identification with shipments expected over the next eighteen months. With these additional orders, totaling $5.8 million, Intevac has now received a total of $24.8 million under the Indefinite Delivery Indefinite Quantity agreement with Northrop Grumman. This demonstrates the continuation of an ongoing multi-year business opportunity for LIVAR cameras.

“We believe LIVAR’s positive identification capability is a tremendous asset for the military,” commented Drew Brugal, executive vice president and general manager of Intevac Photonics. “This is a critical component for both targeting and surveillance military programs. Northrop Grumman is a valuable customer and we are pleased to contribute to their LITENING G4 system.”

The LIVAR M506 digital imaging camera operates in the short wave infrared portion of the light spectrum for multiple military applications, from surveillance to long range targeting and identification on airborne, maritime, and ground based applications.

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.

If you liked this article you might like

5 Stocks Insiders Love for 2016

Insider Trading Alert - FCN, IVAC And VLGEA Traded By Insiders

Insider Trading Alert - SKUL, IVAC And CCL Traded By Insiders

Intevac (IVAC) Downgraded From Hold to Sell

IVAC: Insiders Vs. Shorts