8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

May 19, 2003

Date of Report (date of earliest event reported)

INTEVAC, INC.

(Exact name of Registrant as specified in its charter)

State of California	0-26946	94-3125814
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

3560 Bassett Street
Santa Clara, CA 95054

(Address of principal executive offices)

(408) 986-9888

(Registrant’s telephone number, including area code)

N/A

(Former name or former address if changed since last report)

TABLE OF CONTENTS

	Item 9.
	Item 7. Financial Statements and Exhibits
Exhibit Index
EXHIBIT 99.1

Item 9.

     Please find the Needham Investment Presentation attached as Exhibit 99.1.

Item 7. Financial Statements and Exhibits

     (c) Exhibits

     99.1 Investor Presentation.

                    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		INTEVAC, INC.
Date: May 19, 2003	By:	/s/ CHARLES B. EDDY III
		Charles B. Eddy III
		Vice President, Finance and Administration, Chief Financial Officer, Treasurer and Secretary

Exhibit Index

99.1 Investor Presentation.

EX-99.1 3 f90394exv99w1.htm EXHIBIT 99.1

Exhibit 99.1

Needham Investment Presentation Kevin Fairbairn, CEO May 2003 Intevac, Inc.

Cautionary Disclaimer

NASDAQ NM Shares Outstanding Market Cap IVAC 12.2M $ 60M Intevac Intensified Imaging Business Equipment Products Business Hard Disk Drive Media Coating Equipment Market Share Leader Top 6 customers use Intevac Equipment Significant Recovery and Growth Opportunity New tools driven by capacity and technology upgrades Potential > $100 Million/year

Equipment Products Business To Be the Leading Supplier of Equipment and Services to the Hard Disk Drive Industry Built Upon: Winning Our Customer's Trust By Delivering Timely Results Enabling Our Customer to Improve Their Business Results Through Our Product Innovation and Enhancement of Customer Productivity Opportunity The HDD Industry is a $20B Business With Significant Technology and Cost Challenges Capital spending is > $1B Intevac share today is < 5% Mission

Equipment Products Business Strategy Win Majority of Technology and Capacity Hard Disk Drive Media Coating Tool Buys in 2003 - 2006 Timeframe Critical for ongoing business success Build Service, Spares and Consumable Business Protect against cyclic nature of system buys Establishing larger presence in Asia to manage after system sales business Expand Served Available Market by Providing Equipment for Other Hard Disk Drive Manufacturing Applications

Good News! Our Customer's Business Results Are Improving Public HDD Companies Seagate $ 0.37/Share Maxtor $0.11/Share Western Digital $0.26/Share Komag $0.21/Share Most Recent Quarter Customer Finances Improving Rate of Change Slowing Areal Density Changes % Pricing Is Stabilizing! Annualized ASP Erosion Averaged Quarter Over Quarter Hard Drive Disk Shipments Market Is Growing

Equipment Products Business Outlook Source: TrendFocus & Salomon Smith Barney Consumer Applications Fuel Growth Hard Drive Shipments First Capacity Buys in 2002 Since 1998 Quotation activity up Analysts Forecasting 25% Growth Over Next 3 Years in Hard Drive Unit Shipments

Business Opportunity Equipment Products Division 2002 - 2003 Represent A Positive Turning Point

Hard Drive Media Coating Equipment Family Industry Work Horse £ 12 Process Steps 122 Systems Shipped Extends Capability of MDP 250B £ 18 Process Step Capability Multiple Units Shipped Industry Work Horse for Future Media > 20 Process Step Capability 1st Shipments Planned Q3 03 MDP 250B MDP 250B MDP 200 + MDP 250B 200 Lean Coming Soon!

Reducing Cost of Media Production Step Improvement in Capital Cost / Disk / Process Step 2003 200 Lean 700 Disks Per Hour Advanced Technology MDP 250B 450 Disks Per Hour

NASDAQ NM Shares Outstanding Market Cap IVAC 12.2M $ 60M Intevac Intensified Imaging Business Unique Next Generation Digital Imaging Systems for Night Vision Transitioning From Contract R&D to Product Revenues Significant Growth Opportunity Multiple Military applications already in qualification Commercial market in development Potential > $200 Million/year Equipment Products Business

Intensified Imaging Business To Be The Global Leader in Cost Effective Intensified Imaging Products Built Upon: Leveraging advances from the digital world to provide cost effective, smart imaging solutions Strategic partnerships with major system providers to address multiple markets Mission Addressed Wavelengths Near IR Reflected Light From "Dark" Heavens or Eye-safe Illumination Produces Recognizable Image Intensified Imaging Served Market of Infrared Camera Companies 0.4 0.9 1.7 3.0 5.0 8.0 14.0 Low Light Vision Medium Wave IR Long Wave IR Light Wavelength (Micron) Emitted Heat Requires Temperature Variations Produces Detectable Image Cannot read alphanumerics Cannot penetrate glass

Intensified Imaging Products & Applications Airborne Laser Anti-Missile Homeland Security Manportable Maritime Long Range LIVAR(r) Head Mounted Display NightVista(tm) Photon-Processor(tm) Solid State Sensor Medium to Short Range Security Cameras

Cost Effective Long Range Imaging LIVAR(r) Covert Target Identification at Long Range Eye-Safe Compact and Light Weight Man Portable Retrofitable to Existing Targeting Systems LIVAR(r)2200

How LIVAR(r) Works Detect Forward Looking Infra Red Or Radar Or GPS Coordinates Communicate Digital Information Range and Illuminate Eye Safe Laser Covert Image 5x Increase in ID Range

LIVAR(r) Technology Breakthrough Alphanumeric Sees Through Glass Range = 11km over water at Night Range = 28 km at Night Range = 10 km at Night

Short To Medium Range Night Vision Heavy, Cumbersome Direct View (Blinded by Light) Vacuum Tube Technology Expensive Today (1970's Technology) Light, Compact Video Output (Day/Night Operation) Solid State Intevac Device Low Cost, Low Power Tomorrow Market Opportunity > $200M / Year

Military Intensified Imaging Product Pipe Line ABL LIVAR(r) Airborne Program Head Mounted Cameras Vehicle Mounted LIVAR(r) Cost Effective Targeting LIVAR(r) Man Portable LIVAR(r) Naval LIVAR(r) UAV LIVAR(r) Technology Demonstration Production Phase 2003 2004 2005 2006 2007 2008 $13 Million $ 42 Million $ 1000 + Million $ 200 Million $ 20 Million TBD TBD $ 150 Million Typical Production Run: 8-10 years Engineering & Manufacturing Development Phase $$

Commercialized Intensified Imaging Business Leveraging Technology Developed for Military both at Intevac and Elsewhere Large Scale Infrastructure Security Using LIVAR(r) LIVAR(r) Enables Automated Detection and Identification of Potential Threats Over Large Areas Available Q4 2003 NightVista(tm) Extreme Low Light Video Cameras Available Q2 2003 Total Available Market Estimated at > $700 Million Port Authority Infrastructure Support Water Watch Extended Runway Ferry or Tanker Watch Border Control Short to Medium Range Night Time Security/Surveillance

Intevac Summary Intensified Imaging Business Unique Technology to Address Significant and Growing Markets Significant Market Military market development in process Commercial market development starting Equipment Products Business Major New Equipment Investment Cycle Starting Market Share Leader Opportunity for Significant Revenue and Value Growth

EX-99.1

Exhibit 99.1