Intevac’s order backlog boosted by recent solar ion implant orders

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Revenue in the first quarter of 2017 was US$30.4 million, including US$21.5 million of Thin-film Equipment segment revenue. Image: Intevac

Specialist semiconductor and PV equipment supplier Intevac reported first quarter 2017 financial results that included a 40% increase in new orders, driven by its largest single order in its Thin-film Equipment segment that includes its solar product offerings with a 12 system follow-on order in March for its solar ‘ENERGi’ implant tools. 

Revenue in the first quarter of 2017 was US$30.4 million, including US$21.5 million of Thin-film Equipment segment revenue. However, the segment sales are not expected to include the solar ion implant order until later in the year, after tools are shipped to a customer in China planning to ramp N-type mono IBC (Interdigitated Back Contact) solar cells and modules, including bifacial modules. 

Management noted in its first quarter earnings call that the solar ion implant order was valued at around US$23 million. The company had not disclosed the value of the order when it was announced in March, 2017.

Intevac’s Thin-film Equipment segment sales have been increasing significantly since the third quarter of 2016, partially driven by new solar orders for implant and PVD tools. Intevac reported total new orders in the quarter of US$35 million

The order backlog at the end of the first quarter of 2017 included one ‘MATRIX’ solar system and 14 ENERGi solar ion implant systems.

“Recent traction in orders and revenue in new markets reflect important milestones in the future growth trajectory of our company,” commented Wendell Blonigan, president and chief executive officer of Intevac. “In the first quarter, we recognized revenue on VERTEX volume production systems and received follow-on orders for 12 ENERGi implant tools, both of which represent the crossover from pilot tools to capacity production systems in each of our new Thin-film Equipment growth markets.

Intevac reported that its order backlog totalled US$73.0 million at the end of the first quarter, compared to US$68.5 million at the end of 2016. The order backlog at the end of the first quarter of 2017 included one ‘MATRIX’ PVD solar system and 14 ENERGi solar ion implant systems.

Blonigan noted in the earnings call that the market for its MATRIX solar product would remain limited, due to sector challenges.

“We believe that many customers have been reassessing their N-type strategies and some high efficiency N-type capacity has been announced coming offline. We continue to expect the market for our MATRIX solar products focused on high efficiency N-type cells will be soft over the next year and until overall weakness in the solar module pricing has improved,” noted Blonigan.

“While there are many moving parts in the solar business, we continue to monitor the environment for N-type solar investments and given the nearly $23 million order just received, we are leaving our five year solar revenue outlook unchanged at $175 million,” added Blonigan.

Read Next

June 2, 2021
Solar cell manufacturer Maxwell Technologies has celebrated a record mass production efficiency for its heterojunction (HJ) solar cell.
June 1, 2021
Renewables investor Magnora AG has said it will increase its investment in perovskite solar specialist Evolar, taking a 40.7% stake in the company.
May 31, 2021
Researchers at the University of Sheffield have found a new way to extend the life of perovskite materials by more than three months, paving the way for new solar cell technologies.
May 13, 2021
The solar module manufacturing subsidiary of Italian utility Enel is aiming to scale up annual production capacity to 3GW in the second half of 2023, the company has confirmed.
May 10, 2021
LONGi Solar has set a record conversion efficiency of 25.09% for its N-type monocrystalline bifacial TOPCon cell that has been independently verified by the Institute for Solar Energy Research in Hamelin.
PV Tech Premium
April 20, 2021
New technologies are increasingly being used to enhance solar project economics and boost gains, however the application and modelling of these technologies remains uncertain. This exclusive recording from Solar Finance & Investment Europe sheds a light on those areas.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021