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Intevac (IVAC)
NASDAQ:IVAC
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.21Last Year’s EPS
-$0.07Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 11, 2024
|% Change Since: -1.21%
|Next Earnings Date:Jan 29, 2025
Earnings Call Sentiment|Neutral
The earnings call conveyed a mixed sentiment with strong performance and outlook in the HDD business offset by the discontinuation of the TRIO platform and the resulting restructuring. The company's future focus on its core HDD business and positive financial projections provide a hopeful outlook, yet the recent challenges and restructuring present concerns.Company Guidance
Intevac's guidance for the fourth quarter of 2024 suggests a projected revenue range of $9 million to $10.5 million, with anticipated gross margins between 30% and 32%. Operating expenses are expected to be between $8.4 million and $8.6 million, including $900,000 in restructuring costs. Interest income is projected at approximately $700,000, with a GAAP tax expense of $400,000, mainly noncash. The net loss is forecasted to range from $0.19 to $0.21 per share based on 27 million shares outstanding. Looking ahead to fiscal year 2025, Intevac anticipates a revenue baseline of $50 million for its HDD business, supported by strong upgrade demand, and expects to achieve cash flow neutrality or positivity, aided by gross margins of at least 40% and a reduced operating expense run rate of $7 million to $7.2 million.Strong HDD Business Performance
The company reported strong demand for HDD technology upgrades, which exceeded the high end of their forecast. This demand is driven by cloud data center needs and the growing AI industry, resulting in a positive outlook for HDD business with significant additional revenue potential between 2026 and 2028.
Resolution of Customer Inventory Obligation
Approximately $15 million of the $28.5 million of revenue reported for Q3 was related to resolving a customer's inventory obligation, positively impacting earnings per share by $0.04.
Improved Financial Forecast
For fiscal 2025, the company expects a revenue baseline of $50 million, supported by HDD business growth and restructuring efforts. This is projected to result in cash flow neutral to cash flow positive results.
Board Appointment
Ryan Vardeman, a principal and co-founder of Palogic Value Fund, has joined the Board, bringing extensive corporate strategy, operating, and financial experience.
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IVAC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IVAC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 11, 2024 | $3.30 | $2.54 | -23.03% |
| Aug 05, 2024 | $3.60 | $3.81 | +5.83% |
| Apr 25, 2024 | $3.70 | $4.09 | +10.54% |
| Feb 05, 2024 | $4.01 | $3.88 | -3.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Intevac (IVAC) report earnings?
Intevac (IVAC) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is Intevac (IVAC) earnings time?
Intevac (IVAC) earnings time is at Jan 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IVAC EPS forecast?
IVAC EPS forecast for the fiscal quarter 2024 (Q4) is -$0.21.
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