Benzinga | Nov 16, 2021 02:54PM EST

Intevac Secures $10M New HDD Orders

* Intevac, Inc. (NASDAQ:IVAC) has received $10 million in new HDD orders, consisting of one 200 Lean system and technology upgrades, adding to the company's backlog at year-end 2021.

* The company expects technology upgrades to be installed through mid-2022 and the 200 Lean system delivered in the second half of 2022.

* "We are pleased to announce our first new 200 Lean order since 2018, reflecting the very beginning of planned media capacity additions our customers will be making over the next few years," said Jay Cho, EVP and general manager of Intevac's Thin-film Equipment business.

* Price Action: IVAC shares are trading lower by 0.19% at $5.14 on the last check Tuesday.