Intevac

Intevac Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Monday, February 5, 2024

A reconciliation of the GAAP and non-GAAP adjusted results is provided in the financial table included in this release.

Key Points: 
  • A reconciliation of the GAAP and non-GAAP adjusted results is provided in the financial table included in this release.
  • Operating expenses were $7.8 million, compared to $8.3 million in the fourth quarter of 2022.
  • The net loss for the quarter was $1.8 million, or $0.07 per diluted share, compared to a net loss of $3.2 million, or $0.12 per diluted share, in the fourth quarter of 2022.
  • The non-GAAP net loss for the fourth quarter of 2023 was $1.9 million, or $0.07 per diluted share, compared to the non-GAAP net loss for the fourth quarter of 2022 of $3.2 million, or $0.13 per diluted share.

180 Degree Capital Corp. Establishes Discount Management Program And Reports Net Asset Value Per Share (“Nav”) Of $4.91, Comprised Of 97% Cash And Public Securities, As Of September 30, 2023

Retrieved on: 
Monday, November 13, 2023

“The third quarter of 2023 was challenging for 180 and the public markets as a whole,” said Kevin M. Rendino, Chief Executive Officer of 180.

Key Points: 
  • “The third quarter of 2023 was challenging for 180 and the public markets as a whole,” said Kevin M. Rendino, Chief Executive Officer of 180.
  • Since 2017, the legacy business accounted for decreases in value of $2.28 per share, versus the increase in value of $2.77 per share in our current strategy.
  • Intevac, Inc., (IVAC) is in the final stages of certification for its new TRIO tool with its partner, Corning.
  • The table below summarizes 180’s performance over periods of time through the end of Q3 20233:

Intevac Announces Third Quarter 2023 Financial Results

Retrieved on: 
Wednesday, November 1, 2023

A reconciliation of the GAAP and non-GAAP adjusted results is provided in the financial table included in this release.

Key Points: 
  • A reconciliation of the GAAP and non-GAAP adjusted results is provided in the financial table included in this release.
  • Non-GAAP net income for the third quarter of 2023 was $0.1 million, or $0.00 per diluted share, compared to a non-GAAP net loss of $3.2 million, or $0.13 per diluted share, in the third quarter of 2022.
  • A reconciliation of the GAAP and non-GAAP results is provided in the financial tables included in this release.
  • Management uses non-GAAP results to evaluate the Company’s operating and financial performance in light of business objectives and for planning purposes.

Intevac to Announce Third Quarter 2023 Results on November 1st

Retrieved on: 
Wednesday, October 11, 2023

Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, will release financial results for its fiscal third quarter 2023 at approximately 1 p.m. PT (4 p.m.

Key Points: 
  • Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, will release financial results for its fiscal third quarter 2023 at approximately 1 p.m. PT (4 p.m.
  • ET) on Wednesday, November 1st, 2023.
  • ET) on November 1st, Intevac management will host a teleconference to discuss the Company's financial results.
  • To participate in the teleconference, please call toll-free (877) 407-0989 prior to the start time, and reference meeting number 13741623.

Intevac Announces Second Quarter 2023 Financial Results

Retrieved on: 
Wednesday, August 2, 2023

Operating expenses were $8.0 million, compared to $6.9 million in the second quarter of 2022.

Key Points: 
  • Operating expenses were $8.0 million, compared to $6.9 million in the second quarter of 2022.
  • The operating loss was $5.5 million compared to $2.4 million in the second quarter of 2022.
  • The non-GAAP net loss for the second quarter of 2023 was $4.9 million, or $0.19 per diluted share, compared to a non-GAAP net loss of $2.6 million, or $0.10 per diluted share, in the second quarter of 2022.
  • Substantially all cash outlays in connection with the 2023 Cost Reduction Plan are expected to occur in the third quarter of fiscal 2023.

180 Degree Capital Corp. Reports $6.22 Preliminary Net Asset Value Per Share, -1.6% YTD, and Liquid Public Securities and Cash of 87% of Net Assets, as of June 30, 2023

Retrieved on: 
Thursday, July 20, 2023

MONTCLAIR, N.J., July 20, 2023 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180” and the “Company”), today reported preliminary results as of June 30, 2023.

Key Points: 
  • MONTCLAIR, N.J., July 20, 2023 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180” and the “Company”), today reported preliminary results as of June 30, 2023.
  • “While we are frustrated with our performance in Q2 2023, we used the quarter to position TURN to benefit should certain catalysts of our holdings occur down the road.
  • Our current belief is that some of these catalysts could materialize over the ensuing months.
  • Management continues to believe that TURN’s stock does not reflect the appropriate value of the company and its holdings.

Intevac to Announce Second Quarter 2023 Results on August 2nd

Retrieved on: 
Tuesday, July 18, 2023

Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, will release financial results for its fiscal second quarter 2023 at approximately 1 p.m. PT (4 p.m.

Key Points: 
  • Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, will release financial results for its fiscal second quarter 2023 at approximately 1 p.m. PT (4 p.m.
  • ET) on Wednesday, August 2nd, 2023.
  • ET) on August 2nd, Intevac management will host a teleconference to discuss the Company's financial results.
  • To participate in the teleconference, please call toll-free (877) 407-0989 prior to the start time, and reference meeting number 13739934.

Ichor Announces Greg Swyt to Succeed Retiring CFO Larry Sparks

Retrieved on: 
Monday, July 10, 2023

Mr. Swyt, who has served as the company’s chief accounting officer since January 2022, will succeed retiring CFO Larry J. Sparks.

Key Points: 
  • Mr. Swyt, who has served as the company’s chief accounting officer since January 2022, will succeed retiring CFO Larry J. Sparks.
  • Mr. Sparks has agreed to remain with the company and assist in the CFO transition for up to six months.
  • Mr. Swyt, 62, joined Ichor early last year, after nearly 25 years of financial leadership roles in the semiconductor capital equipment and global electronics technology industries.
  • All of us at Ichor will miss Larry, and we wish him and his family the very best in his retirement.”

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Intevac, Inc. - IVAC

Retrieved on: 
Saturday, June 17, 2023

NEW YORK, June 17, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Intevac, Inc. (“Intevac” or the “Company”) (NASDAQ: IVAC).

Key Points: 
  • NEW YORK, June 17, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Intevac, Inc. (“Intevac” or the “Company”) (NASDAQ: IVAC).
  • Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.
  • The Firm has recovered billions of dollars in damages awards on behalf of class members.

Intevac Announces Appointment of Houlihan Lokey to Evaluate Strategic Options

Retrieved on: 
Tuesday, June 13, 2023

Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, announced today that the Company has retained investment banking firm Houlihan Lokey Capital, Inc. (“Houlihan Lokey”) to advise management and the board of directors on strategic alternatives.

Key Points: 
  • Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, announced today that the Company has retained investment banking firm Houlihan Lokey Capital, Inc. (“Houlihan Lokey”) to advise management and the board of directors on strategic alternatives.
  • Additionally, the board has formed a strategic committee comprised of independent directors David Dury and Kevin Barber to work with management and Houlihan Lokey in evaluating options to increase stockholder value.
  • With the continued softening of HDD demand and the unprecedented cancellation of a meaningful portion of our order backlog, the board of directors has made the decision to evaluate strategic options for the Company, which includes appointing investment banking firm Houlihan Lokey and a strategic committee within our board to evaluate strategic options to maximize stockholder value.
  • The Company does not expect to disclose further developments relating to this strategic evaluation process, unless and until the board of directors approves a specific transaction or otherwise concludes this review of strategic alternatives.