Date Announced: 21 Dec 2018
Order levels now stand at 5-year high.
SANTA CLARA, Calif.--(BUSINESS WIRE)--Intevac, Inc. (Nasdaq: IVAC) announced today it has received multiple new program awards that together increase Photonics backlog by over $35 million, to an expected five-year record level at year-end 2018. These awards include development programs for digital night vision cameras for the dismounted soldier, and a follow-on order for the U.S. Military’s leading attack helicopter platform.
“Over the last 25 years, Intevac has been driving our founder Norm Pond’s vision of enabling night vision systems with the power of digital technology,” commented Wendell Blonigan, president and chief executive officer of Intevac. “Intevac’s digital night vision camera systems are currently the solutions of choice for the premiere fighting platforms of the U.S. Military, and our largest recent award is the beginning stage of bringing our digital technology to the dismounted ground soldier.”
“This week we announced the largest contract award Intevac Photonics has ever received, which is a direct result of our digital night vison design and domain expertise,” added Timothy Justyn, executive vice president and general manager of Intevac Photonics. “Our product offerings will leverage the successful development work of our state-of-the-art, Low Light Level CMOS cameras accomplished over the past year.”
The awards together contribute over $35 million in increased backlog for Intevac Photonics, in multiple programs that include camera deliveries scheduled over the next two years. The helicopter program award consists of a continuation of the company’s gold-standard ISIE-11 digital night vision sensor. The development program awards for the dismounted soldier leverage Intevac’s next-generation ISIE-19 sensor currently under development.
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