$IVAC
INTEVAC INC

2017 Q2 Form 10-Q Financial Statement

#000119312517153957 Filed on May 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q4 2016 Q2
Revenue $30.39M $28.98M $13.66M
YoY Change 122.39% 57.36% -31.28%
Cost Of Revenue $17.34M $14.04M $9.808M
YoY Change 76.8% 3.98% -24.34%
Gross Profit $13.05M $11.91M $3.856M
YoY Change 238.36% 142.51% -44.29%
Gross Profit Margin 42.93% 41.1% 28.22%
Selling, General & Admin $6.274M $4.772M $4.996M
YoY Change 25.58% 0.76% -4.89%
% of Gross Profit 48.09% 40.06% 129.56%
Research & Development $4.682M $4.067M $5.176M
YoY Change -9.54% 2.81% 12.33%
% of Gross Profit 35.89% 34.14% 134.23%
Depreciation & Amortization $1.015M $1.080M $1.176M
YoY Change -13.69% -4.42% 0.26%
% of Gross Profit 7.78% 9.07% 30.5%
Operating Expenses $10.96M $8.839M $10.17M
YoY Change 7.71% 1.69% 3.15%
Operating Profit $2.091M -$324.0K -$6.316M
YoY Change -133.11% -91.43% 114.9%
Interest Expense $110.0K $60.00K $37.00K
YoY Change 197.3% 160.87% -53.16%
% of Operating Profit 5.26%
Other Income/Expense, Net $180.0K
YoY Change
Pretax Income $2.201M -$264.0K -$6.279M
YoY Change -135.05% -92.97% 119.55%
Income Tax $372.0K $217.0K $26.00K
% Of Pretax Income 16.9%
Net Earnings $1.829M $2.835M -$6.305M
YoY Change -129.01% -175.42% 117.94%
Net Earnings / Revenue 6.02% 9.78% -46.14%
Basic Earnings Per Share $0.09 $0.14 -$0.31
Diluted Earnings Per Share $0.08 $0.13 -$0.31
COMMON SHARES
Basic Shares Outstanding 21.22M shares 20.87M shares 20.55M shares
Diluted Shares Outstanding 22.79M shares 20.87M shares 20.55M shares

Balance Sheet

Concept 2017 Q2 2016 Q4 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.80M $36.60M $36.50M
YoY Change 11.78% -22.29% -27.44%
Cash & Equivalents $25.58M $27.04M $21.80M
Short-Term Investments $17.10M $15.80M $17.30M
Other Short-Term Assets $1.001M $997.0K $1.039M
YoY Change -3.66% -5.14% 23.69%
Inventory $24.08M $24.88M $20.37M
Prepaid Expenses
Receivables $21.60M $19.00M $5.200M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $88.61M $88.74M $63.71M
YoY Change 39.09% 13.76% -22.96%
LONG-TERM ASSETS
Property, Plant & Equipment $11.88M $11.24M $12.21M
YoY Change -2.66% -5.84% -4.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.000M $4.300M $7.000M
YoY Change -42.86% -41.1% -37.5%
Other Assets $671.0K $871.0K $1.435M
YoY Change -53.24% -39.35% -24.47%
Total Long-Term Assets $20.11M $19.59M $25.31M
YoY Change -20.53% -24.32% -14.51%
TOTAL ASSETS
Total Short-Term Assets $88.61M $88.74M $63.71M
Total Long-Term Assets $20.11M $19.59M $25.31M
Total Assets $108.7M $108.3M $89.02M
YoY Change 22.14% 4.28% -20.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.824M $5.323M $4.455M
YoY Change 53.18% 25.75% -6.54%
Accrued Expenses $6.429M $17.01M $3.420M
YoY Change 87.98% 346.95% -33.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $28.85M $31.98M $14.86M
YoY Change 94.12% 99.08% -1.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.288M $3.082M $2.385M
YoY Change 37.86% 22.84% 4.38%
Total Long-Term Liabilities $3.288M $3.082M $2.385M
YoY Change 37.86% 22.84% 4.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.85M $31.98M $14.86M
Total Long-Term Liabilities $3.288M $3.082M $2.385M
Total Liabilities $32.14M $35.06M $17.25M
YoY Change 86.34% 88.78% -0.88%
SHAREHOLDERS EQUITY
Retained Earnings -$69.17M -$69.90M -$68.77M
YoY Change 0.59% 16.63% 22.39%
Common Stock $173.9M $171.3M $168.5M
YoY Change 3.19% 3.41% 3.11%
Preferred Stock
YoY Change
Treasury Stock (at cost) $28.49M $28.49M $28.49M
YoY Change 0.0% 36.07% 119.55%
Treasury Stock Shares 4.845M shares 4.845M shares 4.845M shares
Shareholders Equity $76.59M $73.27M $71.77M
YoY Change
Total Liabilities & Shareholders Equity $108.7M $108.3M $89.02M
YoY Change 22.14% 4.28% -20.73%

Cashflow Statement

Concept 2017 Q2 2016 Q4 2016 Q2
OPERATING ACTIVITIES
Net Income $1.829M $2.835M -$6.305M
YoY Change -129.01% -175.42% 117.94%
Depreciation, Depletion And Amortization $1.015M $1.080M $1.176M
YoY Change -13.69% -4.42% 0.26%
Cash From Operating Activities -$1.980M $1.260M -$2.450M
YoY Change -19.18% -313.56% 19.51%
INVESTING ACTIVITIES
Capital Expenditures -$1.450M -$500.0K -$1.250M
YoY Change 16.0% -25.37% 35.87%
Acquisitions
YoY Change
Other Investing Activities $1.910M $590.0K $11.20M
YoY Change -82.95% -86.65% 2053.85%
Cash From Investing Activities $460.0K $80.00K $9.950M
YoY Change -95.38% -97.87% -2651.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.083M $711.0K
YoY Change 52.32% -63.95%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -130.0K 770.0K 490.0K
YoY Change -126.53% -162.6% -124.87%
NET CHANGE
Cash From Operating Activities -1.980M 1.260M -2.450M
Cash From Investing Activities 460.0K 80.00K 9.950M
Cash From Financing Activities -130.0K 770.0K 490.0K
Net Change In Cash -1.618M 2.110M 7.990M
YoY Change -120.25% 9.33% -281.18%
FREE CASH FLOW
Cash From Operating Activities -$1.980M $1.260M -$2.450M
Capital Expenditures -$1.450M -$500.0K -$1.250M
Free Cash Flow -$530.0K $1.760M -$1.200M
YoY Change -55.83% 2100.0% 6.19%

Facts In Submission

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CY2017Q2 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr style="PAGE-BREAK-INSIDE: avoid"> <td valign="top" width="4%" align="left"><b>2.</b></td> <td valign="top" align="left"><b>Recent Accounting Pronouncements</b></td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> In March 2017, the Financial Accounting Standards Board (&#x201C;FASB&#x201D;) issued Accounting Standards Update (&#x201C;ASU&#x201D;) <font style="WHITE-SPACE: nowrap">2017-08,</font> <i>Receivables &#x2013; Nonrefundable Fees and Other Costs (Subtopic <font style="WHITE-SPACE: nowrap">310-20):</font> Premium Amortization on Purchased Callable Debt Securities</i>. ASU <font style="WHITE-SPACE: nowrap">2017-08</font> amends the amortization period for certain purchased callable debt securities held at a premium, shortening such period to the earliest call date. This update becomes effective and will be adopted by Intevac in the first quarter of fiscal&#xA0;2019. Intevac does not expect the adoption of this update to have a material impact on its consolidated financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In January 2017, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2017-04,</font> <i>Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment</i>. ASU <font style="WHITE-SPACE: nowrap">2017-04</font> eliminates Step 2 from the goodwill impairment test. Under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in ASU <font style="WHITE-SPACE: nowrap">2017-04,</font> an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit&#x2019;s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This update becomes effective and will be adopted by Intevac in the first quarter of fiscal&#xA0;2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January&#xA0;1,&#xA0;2017. Intevac does not expect the adoption of this update to have a material impact on its consolidated financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In March 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-09</font> <i>Compensation&#x2014;Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting</i>. We have adopted these amendments beginning in the first quarter of 2017. Starting this quarter, stock-based compensation excess tax benefits or deficiencies are reflected in the Consolidated Statements of Operations as a component of the provision for income taxes, whereas they previously were recognized in equity. Additionally, our Consolidated Statements of Cash Flows now presents excess tax benefits as an operating activity. Finally, we have elected to account for forfeitures as they occur, rather than estimate expected forfeitures. The net cumulative effect of this change was recognized as a $1.1&#xA0;million charge to the accumulated deficit as of January&#xA0;1,&#xA0;2017. In the first quarter of 2017, stock-based compensation excess tax benefits of $47,000 were reflected in the Consolidated Statements of Operations as a component of the provision for income taxes.</p> </div>
CY2017Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2017Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2017Q2 dei Document Type
DocumentType
10-Q
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2017Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001001902
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1574000 shares
CY2017Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2017Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.03
CY2017Q2 dei Trading Symbol
TradingSymbol
IVAC
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017Q2 dei Amendment Flag
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CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85 pure
CY2017Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.60
CY2017Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.89
CY2017Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2017Q2 dei Document Period End Date
DocumentPeriodEndDate
2017-04-01
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2017Q2 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2017Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
30625 shares
CY2017Q2 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
195184 shares
CY2017Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
57657 shares
CY2017Q2 us-gaap Average Remaining Maturity Of Foreign Currency Derivatives1
AverageRemainingMaturityOfForeignCurrencyDerivatives1
P30D
CY2017Q2 dei Entity Registrant Name
EntityRegistrantName
INTEVAC INC
CY2017Q2 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
38000
CY2017Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
34000
CY2017Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-9000
CY2017Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
250000
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
30388000
CY2017Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
110000
CY2017Q2 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
47000
CY2017Q2 us-gaap Contracts Revenue
ContractsRevenue
1965000
CY2017Q2 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-28000
CY2017Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
28423000
CY2017Q2 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
3944000
CY2017Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1448000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2091000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
1829000
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1867000
CY2017Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1210000
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
4000
CY2017Q2 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
6010000
CY2017Q2 us-gaap Gross Profit
GrossProfit
13047000
CY2017Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
80000
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
38000
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
38000
CY2017Q2 us-gaap Other Comprehensive Income Loss Before Tax
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38000
CY2017Q2 us-gaap Increase Decrease In Restricted Cash
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-152000
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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2201000
CY2017Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
80000
CY2017Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1015000
CY2017Q2 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
34000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
372000
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NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
610000
CY2017Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1083000
CY2017Q2 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
5850000
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1077000
CY2017Q2 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-3810000
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6274000
CY2017Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
17341000
CY2017Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-129000
CY2017Q2 us-gaap Product Warranty Expense
ProductWarrantyExpense
142000
CY2017Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
0
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4682000
CY2017Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
213000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6279000
CY2016Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
16000
CY2016Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1176000
CY2016Q2 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
67000
CY2017Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1466000
CY2017Q2 us-gaap Contract Revenue Cost
ContractRevenueCost
1667000
CY2017Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
15674000
CY2017Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
2000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
10956000
CY2016Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-122000
CY2016Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
114000
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
13664000
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
67000
CY2016Q2 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
111000
CY2016Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
37000
CY2016Q2 us-gaap Contracts Revenue
ContractsRevenue
382000
CY2016Q2 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-36000
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
13282000
CY2016Q2 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
2109000
CY2017Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
CY2017Q2 ivac Purchase Intervals Of Series
PurchaseIntervalsOfSeries
P6M
CY2017Q2 ivac Minimum Product Warranty Range
MinimumProductWarrantyRange
P12M
CY2017Q2 ivac Share Based Compensation Arrangement By Share Based Payment Award Conversion Ratio
ShareBasedCompensationArrangementByShareBasedPaymentAwardConversionRatio
1.00 pure
CY2017Q2 ivac Payment Of Acquisition Related Contingent Consideration
PaymentOfAcquisitionRelatedContingentConsideration
2000
CY2017Q2 ivac Maximum Product Warranty Range
MaximumProductWarrantyRange
P24M
CY2017Q2 ivac Share Based Compensation Arrangement By Share Based Payment Award Options Offering Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOfferingPeriod
P2Y
CY2017Q2 ivac Maximum Employee Salary Withholdings For Purchase Of Common Stock Under Terms Of Espp
MaximumEmployeeSalaryWithholdingsForPurchaseOfCommonStockUnderTermsOfEspp
0.15 pure
CY2017Q2 ivac Allocation Of Corporate Expenses To Segments
AllocationOfCorporateExpensesToSegments
0.03 pure
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2016Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2448000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20551000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20551000 shares
CY2016Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2016Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1250000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-6316000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-6305000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-6194000
CY2016Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
222000
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
44000
CY2016Q2 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-1518000
CY2016Q2 us-gaap Gross Profit
GrossProfit
3856000
CY2016Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
16000
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
111000
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
111000
CY2016Q2 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
111000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
26000
CY2016Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
9946000
CY2016Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
711000
CY2016Q2 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
13305000
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1111000
CY2016Q2 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
3857000
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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CY2016Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
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CY2016Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
489000
CY2016Q2 us-gaap Product Warranty Expense
ProductWarrantyExpense
198000
CY2016Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
0
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5176000
CY2016Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
8054000
CY2016Q2 us-gaap Contract Revenue Cost
ContractRevenueCost
858000
CY2016Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
8950000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
10172000
CY2016Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0

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