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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): MAY 28, 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 May 28, 1997, the Registrant publicly disseminated a press release
announcing that it had been awarded four research and development contracts,
totaling $400,000, by various government agencies including the National
Aeronautical and Space Administration (NASA), the U.S. Air Force and the Defense
Special Weapons Agency. Most of these contracts, which are anticipated to be
completed during 1997, focus on leakage reduction in SIMOX-SOI wafers with
thinner buried oxide layers, non-destructive testing of SIMOX-SOI wafers for
certain quality parameters and radiation hardened testing of specially processed
SIMOX-SOI substrates. 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 May 28, 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)
/s/ Timothy Burns
Date: June 6, 1997 -------------------------------------
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 May 28 1997
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[IBIS LOGO]
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Technology Corporation
CONTACT:
Timothy Burns / Dr. Michael Alles 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 AWARDED $400,000
IN SIMOX-SOI GOVERNMENT R&D CONTRACTS
DANVERS, MA -- MAY 28, 1997 --Ibis Technology Corporation (NASDAQ:IBIS), the
leading supplier of SIMOX-SOI (Separation by Implantation of
Oxygen/Silicon-on-Insulator) wafers to the semiconductor manufacturers, today
announced that it has been awarded four research and development contracts,
totaling $400,000, by various government agencies including the National
Aeronautical and Space Administration (NASA), the U.S. Air Force and the
Defense Special Weapons Agency.
These contracts, most of which are anticipated to be completed during 1997, will
focus on leakage reduction in SIMOX-SOI wafers with thinner buried oxide layers,
non-destructive testing of SIMOX-SOI wafers for certain quality parameters and
radiation hardened testing of specially processed SIMOX-SOI substrates.
Dr. Geoffrey Ryding, President and Chief Executive Officer of Ibis Technology
Corporation, commented: "We believe that these new R&D program awards continue
to affirm Ibis' position as a leader in developing state of the art SIMOX-SOI
technology. The development of non-destructive methods for process monitoring
and product characterization, along with improved screening methods and process
optimization, will provide additional tools and methodologies that will enhance
our ability to provide consistent, high quality SIMOX-SOI products to our
customers in commercial and defense sectors."
"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.
# # #
IBIS TECHNOLOGY CORPORATION 32A Cherry Hill Drive Danvers, MA 01923
Telephone (508) 777-4247 or (508) 777-IBIS Fax (508) 777-6570
