Intevac Announces Appointment Of Houlihan Lokey To Evaluate Strategic Options; Company Reaffirms Year-End Cash Outlook And Increases 2023 Revenue Outlook To $43M-$48M Vs $37.29M Est.
Portfolio Pulse from Benzinga Newsdesk
Intevac (NASDAQ:IVAC) has hired investment banking firm Houlihan Lokey to advise on strategic alternatives and formed a strategic committee to evaluate options for increasing stockholder value. The company reaffirms its year-end cash outlook and raises its 2023 revenue outlook to $43M-$48M.
June 13, 2023 | 8:13 pm
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Intevac hires Houlihan Lokey for strategic advice and raises 2023 revenue outlook to $43M-$48M, potentially increasing stockholder value.
Intevac's decision to hire Houlihan Lokey and form a strategic committee to explore options for increasing stockholder value shows the company's commitment to growth and addressing challenges in the HDD industry. The raised 2023 revenue outlook also indicates a positive outlook for the company's future performance, which could lead to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100