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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): JUNE 6, 1997
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IBIS TECHNOLOGY CORPORATION
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(Exact name of registrant as specified in its charter)
MASSACHUSETTS 0-23668 04-2987600
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
32 CHERRY HILL DRIVE, DANVERS, MASSACHUSETTS 01923
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (508) 777-4247
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ITEM 5. OTHER EVENTS.
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On June 6, 1997, the Registrant publicly disseminated a press release
announcing that it expects a higher net loss than it anticipated for the second
quarter ending June 30, 1997. Factors contributing to this result include:
repair and maintenance of the first Ibis 1000; use of the second Ibis 1000 for
SIMOX-SOI development; and lower than anticipated orders. As a consequence,
based upon information currently available to the Registrant, the Registrant
currently anticipates that the fiscal 1997 second quarter net loss per share
will be between $0.12 and $0.16. The information contained in the press release
is incorporated herein by reference and filed as Exhibit 99.1 hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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(c) Exhibit.
99.1 The Registrant's Press Release dated June 6, 1997.
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SIGNATURES
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.
IBIS TECHNOLOGY CORPORATION
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(Registrant)
Date: June 9, 1997 /s/ Timothy Burns
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Timothy Burns
Chief Financial Officer
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EXHIBIT INDEX
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Exhibit Sequential
Number Description Page Number
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99.1 The Registrant's Press Release 5
dated June 6, 1997
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[IBIS LOGO]
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Technology Corporation
CONTACT:
Timothy Burns John P. Kehoe/Van Negris
Ibis Technology Corporation Kehoe, White, Savage & Company, Inc.
(508) 777-4247 (212) 888-1616
FOR IMMEDIATE RELEASE
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IBIS TECHNOLOGY CORPORATION SEES
LOWER THAN ANTICIPATED SECOND QUARTER RESULTS
DANVERS, MA -- JUNE 6, 1997 -- Ibis Technology Corporation (NASDAQ:IBIS), the
leading supplier of SIMOX-SOI (Separation by Implantation of
Oxygen/Silicon-on-Insulator) wafers to semiconductor manufacturers, today
announced that it expects a higher net loss than it anticipated for the second
quarter ending June 30, 1997. Factors contributing to this result include:
- The repair and maintenance of the first Ibis 1000,
- Use of the second Ibis 1000 for SIMOX-SOI development, and
- Lower than anticipated orders.
As a consequence, based on information currently available to the Company, Ibis
currently anticipates that the fiscal 1997 second quarter net loss per share
will be between $0.12 and $0.16.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995: The statements contained in this press release which are not historical
fact are forward-looking statements based upon management's current
expectations that are subject to risks and uncertainties that could cause actual
results to differ materially from those set forth in or implied by
forward-looking statements, including, but not limited to, product demand and
market acceptance risks, general economic conditions, the impact of competitive
products, technologies and pricing, equipment capacity and supply constraints or
difficulties, the cyclical nature of the semiconductor industry, and other risks
described in the Company's Securities and Exchange Commission filings.
Ibis Technology Corporation is an advanced materials company which supplies
SIMOX-SOI wafers to the semiconductor industry. SIMOX-SOI wafers are
silicon-on-insulator wafers which enable the production of integrated circuits
with significant advantages over circuits constructed on bulk silicon or
epitaxial wafers. The Company produces SIMOX-SOI wafers on advanced proprietary
Ibis 1000 oxygen implantation equipment, utilizing proprietary processing
technologies which the Company believes will enable it to produce SIMOX-SOI
wafers for demanding high volume commercial applications.
NOTE: Information about Ibis Technology Corporation and SIMOX-SOI is available
on Ibis's World Wide Web site on the Internet located at http://www.ibis.com.
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IBIS TECHNOLOGY CORPORATION 32A Cherry Hill Drive Danvers, MA 01923
