Hot Stock Analysis: Intevac (NASDAQ: IVAC)

SANTA CLARA, Calif., June 24, 2019 – Shares of Intevac (NASDAQ: IVAC) declined -0.42% to $4.69. The stock traded total volume of 9.576K shares lower than the average volume of 49.41K shares.

Intevac Inc. (IVAC) reported a loss of $2.40M in its first quarter.

First Quarter 2019 Summary:

The net loss was $2.40M, or $0.10 per diluted share, compared to a net loss of $5.10M, or $0.23 per diluted share in the first quarter of 2018. The non-GAAP net loss was $2.40M or $0.10 per diluted share. This compares to the first quarter 2018 non-GAAP net loss of $5.00M or $0.23 per diluted share.

Revenues were $24.80M, including $18.90M of TFE revenues and Photonics revenues of $5.90M. TFE revenues consisted of one 200 Lean® HDD system, four ENERGsolar ion implant systems, upgrades, spares and service. Photonics revenues consisted of $2.70M of product sales and $3.20M of research and development contracts. In the first quarter of 2018, revenues were $18.00M, including $12.80M of TFE revenues which consisted of one 200 Lean HDD system, upgrades, spares and service, and Photonics revenues of $5.20M, which included $2.70M of product sales and $2.50M of research and development contracts.

R&D and SG&A expenses were $9.20M, down compared to $10.00M in the first quarter of 2018, and increased from $8.80M in the fourth quarter of 2018 due to typical seasonal operating expense increases.

Order backlog totaled $102.60M on March 30, 2019, compared to $108.50M on December 29, 2018 and $66.90M on March 31, 2018. Backlog at March 30, 2019 included five 200 Lean HDD systems and five ENERGi solar ion implant systems. Backlog at December 29, 2018 included six 200 Lean HDD systems and nine ENERGi solar ion implant systems. Backlog at March 31, 2018 included two 200 Lean HDD systems and twelve ENERGi solar ion implant systems.

The Company ended the quarter with $41.90M of total cash, restricted cash and investments and $88.40M in tangible book value, defined as total stockholders’ equity, less intangible assets.

IVAC has the market capitalization of $108.10M and its EPS growth ratio for the past five years was 17.50%. The return on assets ratio of the Company was 5.30% while its return on investment ratio stands at 3.30%. Price to sales ratio was 1.06 while 66.10% of the stock was owned by institutional investors.

Ameena Dalia

Finance and Entertainment Reporter