Intevac Qualifies Ion Implantation Production System at Tier 1 Solar Company


Intevac Qualifies Ion Implantation Production System at Tier 1 Solar Company

Company Narrows Q2'13 Revenue Guidance Range

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intevac, Inc. (NAS: IVAC) announced today that it has successfully qualified the ENERGi ion implant production system that was ordered and shipped in the first quarter of 2013 to a Tier 1 solar company in Asia.

"We are pleased that our ENERGi system has been selected to meet our customer's current and future production needs for their advanced cell technologies," commented Chris Smith, executive vice president and general manager of solar equipment. "We expect this customer to add incremental cell production capacity, and we are well positioned to provide several additional systems as they expand capacity through 2014."

"This competitive win demonstrates the value of ion implant technology and our ability to meet the needs of solar customers by delivering innovative equipment that increases cell efficiency and lowers their cost per watt," added Norm Pond, chairman and chief executive officer. "The compact ENERGi ion implant system was designed to meet the cost, efficiency and productivity requirements of solar cell manufacturing, and we believe it is the most cost-effective doping solution available. The systemincorporates enabling technologies that align with today's solar industry cost reduction roadmap and is extendible to meet the advanced cell architectures and efficiency requirements of the future."

Based upon the system's qualification, acceptance and revenue recognition achieved this month, Intevac has narrowed its revenue guidance range for the second quarter of 2013, from $14.0 to $16.5 million, to $16.0 to $16.5 million.

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 manufacturing of leading-edge, high-sensitivity imaging products and vision systems. Our products primarily address the defense markets.

Safe Harbor Statement

This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Intevac claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to; anticipated second-quarter 2013 revenues and future ion implant system shipments. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the company's expectations. These risks include, but are not limited to: failure to meet the anticipated revenue range for the second quarter and future ion implant system shipments, which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the company's regular filings with the U.S. Securities and Exchange Commission.

For more information call 408-986-9888, or visit the company's website at

INTEVAC ENERGi™, 200 Lean®, and LEAN SOLAR™, are trademarks of Intevac, Inc.

Intevac, Inc.
Jeff Andreson, 408-986-9888
Chief Financial Officer
Claire McAdams, 530-265-9899
Investor Relations

KEYWORDS: United States North America California


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