Revenue Update on Intevac(NASDAQ:IVAC)

Intevac(NASDAQ:IVAC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $14.92M. Analysts estimated a revenue of $14.20M. Earnings per share were $-0.18. Analysts had estimated an EPS of $-0.28.

Intevac (IVAC) made into the market gainers list on Mondays trading session with the shares advancing 2.16% or 0.13 points. Due to strong positive momentum, the stock ended at $6.15, which is also near the day’s high of $6.26. The stock began the session at $6.08 and the volume stood at 1,05,730 shares. The 52-week high of the shares is $6.6 and the 52 week low is $3.99. The company has a current market capitalization of $129 M and it has 2,09,23,678 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, Matthew A Drapkin (director) purchased 38,820 shares at $5.43 per share price.Also, On Jun 9, 2016, Michael A Russak (Executive Advisor) sold 1,902 shares at $5.31 per share price.On Aug 20, 2015, Christopher Smith (VP, Business Development) sold 4,300 shares at $5.01 per share price, according to the Form-4 filing with the securities and exchange commission.

Intevac Inc. provides process manufacturing equipment solutions to the hard disk drive industry and offers high-productivity thin-film processing systems to the photovoltaic (PV) industry. The Company also provides sensors cameras and systems for government applications such as night vision and long-range target identification. The Company’s customers include manufacturers of hard disk drives PV cells and cell phones as well as the United States government and its agencies and contractors. The Company has two segments which include Equipment and Photonics. The Company’s products are used in the defense market. The Company provides process and applications support customer training installation start-up assistance and post-installation service support to its equipment customers. The Company manufactures its Equipment products at its facilities in California and Singapore. Its operations include vacuum processing and electromechanical and optical system assembly.

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