Intevac, Inc. (NASDAQ: IVAC) said its board of directors has authorized the repurchase of USD30m of the company´s common stock.
The program will begin to be implemented in the current quarter. The USD30m program represents over one-third of the company´s balance of cash and investments as of September 28, 2013.
Intevac was founded in 1991 and has two businesses: equipment and intevac photonics. For more information, visit the company´s website at www.intevac.com.