Intevac Inc. (Santa Clara, CA) reported financial results for the 3-month and 12-month periods ended December 31, 2003. Revenues for the three-month period ended December 31, 2003, were $12.1 million compared to $12.0 million in 2002.
Net loss for the fourth quarter of 2003 was $588,000, or $0.04 per diluted share. The $588,000 net loss included $287,000 of other income related to deferred payments received by the company related to the sale of its rapid thermal processing equipment product line in 2002, a credit to inventory provisions of $199,000, and $204,000 of other expenses related to the disposition of fixed assets.
The $588,000 net loss compares to net income of $14.0 million, or $0.86 per diluted share, in the comparable prior-year period. Revenues for the 12-month period ended December 31, 2003, were $36.3 million, versus $33.8 million in 2002. Net loss for the 12-month period ended December 31, 2003, was $12.3 million, or $0.95 per diluted share. For the year-earlier period, the company reported net income of $8.8 million, or $0.66 per diluted share.
