1001902--3/4/2009--INTEVAC_INC

related topics
{customer, product, revenue}
{tax, income, asset}
{condition, economic, financial}
{property, intellectual, protect}
{operation, international, foreign}
{product, candidate, development}
{regulation, government, change}
{personnel, key, retain}
{competitive, industry, competition}
{stock, price, operating}
{debt, indebtedness, cash}
{acquisition, growth, future}
{financial, litigation, operation}
Sales of our equipment are primarily dependent on our customers upgrade and capacity expansion plans and whether our customers select our equipment. We are exposed to risks associated with a highly concentrated customer base. Our growth depends on development of technically advanced new products and processes. Our operating results fluctuate significantly from quarter to quarter, which can lead to volatility in the price of our common stock. The liquidity of our auction rate securities is impaired, which could impact our ability to meet cash requirements and require additional debt financing. The volatility and disruption of the capital and credit markets and adverse changes in the global economy may negatively impact our revenues and our ability to access financing. We may be subject to additional impairment charges due to potential declines in the fair value of our assets. We operate in an intensely competitive marketplace, and our competitors have greater resources than we do. We may not be able to obtain export licenses from the U.S. government permitting delivery of our products to international customers. The Intevac Photonics business is dependent on U.S. government contracts, which are subject to fixed pricing, immediate termination and a number of procurement rules and regulations. Changes to our effective tax rate affect our results of operations. Our success depends on international sales and the management of global operations. Our success is dependent on recruiting and retaining a highly talented work force. We are dependent on certain suppliers for parts used in our products. Our business depends on the integrity of our intellectual property rights. We could be involved in litigation. Difficulties in integrating past or future acquisitions could adversely affect our business.

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