Intevac Sees Net Loss Despite Higher Photonics Profits
SANTA CLARA, Calif., July 29, 2014 — Intevac Inc. said its photonics segment had record revenue and profits in the second quarter, though the company as a whole reported a net loss of $5 million.
That narrows the gap from the second quarter last year, when Intevac reported a net loss of $6.4 million. Total revenue in the second quarter of 2014 was $14.7 million, including $11 million of photonics revenues from R&D contracts and sales. Second-quarter 2013 revenue was $17 million, including $7.8 million in photonics revenue.
The company recently rolled out a new military night-vision camera system and is preparing to ship its first protective coating systems for mobile device touch screens and solar panels, said CEO Wendell Blonigan.
The company’s equipment segment produces hard drives and thin-film substrates.
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