Intevac Photonics announces $ 16 million IDIQ contract for Apache helicopter program
SANTA CLARA, Calif .– (COMMERCIAL THREAD) – Intevac, Inc. (Nasdaq: IVAC) today announced the award of a five-year, fixed-price, undetermined delivery / undetermined quantity (IDIQ) contract worth up to 16.3 million dollars for continued production of night vision cameras for Apache Helicopter’s Modernized Pilot Night Vision Sensor (M-PNVS) program for the U.S. military.
This contract, from the U.S. Army’s PM Apache Office in Huntsville, Alabama, will provide cameras for Apache Airframe new builds, Foreign Military Sales (FMS) orders, and spares. This contract vehicle allows the US military to procure additional units through August 2026 at pre-negotiated prices.
The electronic image intensifier camera is based on Intevac’s patented EBAPSÂ® (Electron Bombarded Active Pixel Sensor) digital imaging sensor for extremely low light level detection.
âIntevac completed deliveries equipping the US Apache fleet, spares and initial orders from FMS customers in September 2020. We are delighted to deliver additional cameras to support our combatant efforts,â commented Timothy Justyn, vice-president. Executive Chairman and CEO of Intevac Photonics. âSince becoming a prime supplier in 2013, Intevac’s success in commissioning cameras to the US military has played a significant role in winning this business. ”
Intevac was founded in 1991 and has two activities: thin film equipment and photonics.
In our Thin Film Equipment business, we are a leader in the design and development of high productivity thin film processing systems. Our production-proven platforms are designed for high volume fabrication of substrates with precise thin film properties, such as hard drive carriers, screen cover panel, solar PV and solar power markets. ‘advanced semiconductor packaging that we currently serve.
In our Photonics business, we are a recognized leading developer of advanced high sensitivity sensors, cameras and digital systems that primarily serve the defense industry. We are the supplier of integrated digital imaging systems for most U.S. military night vision programs.
For more information, call 408-986-9888 or visit the company’s website at www.intevac.com.
This press release includes statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Intevac claims safe haven protection for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms âmayâ, âbelievesâ, âplansâ, âexpectsâ or âanticipatesâ, and do not reflect historical facts. The specific forward-looking statements contained in this press release include, without limitation; the timing, size and / or future funding of the IDIQ production contract. The forward-looking statements contained in this document involve risks and uncertainties which could cause actual results to differ materially from the Company’s expectations. These risks include, but are not limited to: failure to meet scheduled shipping dates, which could have a material impact on our business, financial results and the Company’s share price. These risks and other factors are detailed in the Company’s periodic filings with the United States Securities and Exchange Commission.