Intevac (IVAC) shares are trading higher after hours on strong Q1 results.
The company, which among other things makes manufacturing equipment for the hard-drive business, posted revenue of $33.1 million and a profit of 6 cents a share; the Street has been expecting $28.9 million and a loss of 3 cents. The company said the outlook for its equipment business remains strong, with drive supply expected to remain tight through 2010, with another strong year expected in 2011.
IVAC in late trading is up 80 cents, or 5.4%, to $15.50.
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