Intevac Q1 revenue $9.6M, GAAP net loss $1.6M; orders top $20M, first TRIO shipped

INTEVAC INC

2024-Q1 EPS reported -$0.06 revenue$9,631,000

Revenue $9.6M vs $11.5M YoY; GAAP net loss $1.6M ($0.06 diluted) vs $3.9M loss in Q1 2023.
New orders exceeded $20M; backlog $53M at quarter end, driven by HAMR upgrade demand.
First TRIO system shipped to Asia display cover glass facility in April; expected to convert to revenue upon customer qualification.
Cash and investments $65M at quarter end; over $75M after subsequent AR collections.
Operating loss (GAAP and non-GAAP) $4.4M, consistent with $4.5M loss in prior year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INTEVAC INC reported the three months ended March 30, 2024 results: revenue $9.6, net income $(1.6), EPS $(0.06).

Period: the three months ended March 30, 2024
Revenue: $9.6
Net income: $(1.6)
EPS: $(0.06)
Result: reported results

Exact text from the filing

our stockholders for their continued support.” ($ Millions, except per share amounts) Q1 2024 Q1 2023 GAAP Results Non-GAAP Results GAAP Results Non-GAAP Results Net Revenues $ 9.6 $ 9.6 $ 11.5 $ 11.5 Operating Loss $ (4.4 ) $ (4.4 ) $ (4.5 ) $ (4.5 ) Net Loss $ (1.6 ) $ (2.7 ) $ (3.9 ) $ (4.2 ) Net Loss per Diluted Share $ (0.06 ) $ (0.10 ) $ (0.15 ) $

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Source: SEC EDGAR

accession 0001193125-24-111516

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