Intevac Earnings: Here’s Why Investors are Excited Now

Intevac Inc. (NASDAQ:IVAC) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.22%.

Intevac Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.26 in the quarter versus EPS of $-0.06 in the year-earlier quarter.

Revenue: Decreased 46.59% to $16.98 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Intevac Inc. reported adjusted EPS loss of $0.26 per share. By that measure, the company beat the mean analyst estimate of $-0.30. It beat the average revenue estimate of $14.15 million.

Quoting Management: “In a challenging business environment, we are encouraged by several positive recent announcements for Intevac,” commented Norman Pond, Chairman. “In our equipment business, we received orders for three 200 Lean systems and completed qualification and recognized revenue for our first production solar implant system. In our Photonics business, we were awarded a $27 million contract from the U.S. Army for the Apache helicopter, which resulted in a record $48 million of Photonics backlog at quarter end, which will drive our revenue growth for Photonics in 2014.”

Key Stats (on next page)…

Revenue increased 30.82% from $12.98 million in the previous quarter. EPS increased to $-0.26 in the quarter versus EPS of $-0.32 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.12 to a loss $0.20. For the current year, the average estimate has moved down from a loss of $0.82 to a loss of $0.89 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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