IVAC Buyback

Intevac Buyback

OLI recorded this information on 11/22/2013

Company:

Intevac

Buyback:

IVAC buyback

$Amount Authorized:

$30,000,000

Buyback Details:

Intevac, Inc. (NASDAQ:IVAC">IVAC) announced today that its Board of Directors has authorized the repurchase of $30 million of the company's common stock. Effective immediately, the Repurchase Program will begin to be implemented in the current quarter. The $30 million Program represents over one-third of the company's balance of cash and investments as of September 28, 2013. Commenting on the program, Wendell Blonigan, the company's President and CEO, said, "Since joining Intevac in July, I have met with our largest shareholders, who have expressed their support for a significant share repurchase, and I am pleased our Board has authorized this Program. We believe our business prospects over the next few years allow us to provide this return of capital to our shareholders in conjunction with retaining financial flexibility to effectively manage and grow the business." Chairman Norman Pond added, "Our board regularly reviews and evaluates our capital allocation strategy with a focus toward maximum shareholder value creation, and we have concluded that this is an opportune time to implement a stock repurchase program.

Intevac is a provider of vacuum deposition equipment for a variety of thin-film applications, and a provider of digital night-vision technologies and products to the defense industry. Co. operates in a single segment: Thin-film Equipment (TFE), which designs, develops and markets vacuum process equipment solutions for manufacturing of small substrates with precise thin-film properties, such as for the hard drive, solar cell, display cover panel and advanced semiconductor packaging industries, as well as other adjacent thin-film markets. Co.'s TFE products include: 200 Lean® Disk Sputtering System, INTEVAC VERTEX® System, INTEVAC VERTEX® Spectra System, and INTEVAC VERTEX® Marathon System.

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IVAC — Key Stats (updated Fri., Apr. 26, 10:40 AM)

Company Name:	Intevac, Inc.
Stock buyback:	IVAC buyback
Website:	www.intevac.com
Sector:	Industrial Machinery & Equipment
Number of ETFs Holding IVAC:	11
Total Market Value Held by ETFs:	$8.84M
Total Market Capitalization:	$98.00M
% of Market Cap. Held by ETFs:	9.02%

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Intevac Buyback

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