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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 24, 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 24, 1997, the Registrant publicly disseminated a press release
announcing that it had received an order from UK-based Bookham Technology Ltd.
("Bookham") for the Registrant's SIMOX-SOI wafers which Bookham has indicated
will be used in manufacturing of its newly developed ASOC(TM) (Active Silicon
Integrated Optical Circuit) fiber optic access network transceivers. The
purchase order calls for the Registrant to provide certain quantities of
SIMOX-SOI wafers to Bookham over a certain period of time. 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 24, 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 27, 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 24, 1997
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[Logo]
ibis
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Technology Corporation
CONTACT:
Al Alioto/Dr. Michael Alles John P. Kehoe/Van Negris
Ibis Technology Corporation Kehoe, White, Savage & Co., Inc.
(508) 777-4247 (212) 888-1616
FOR IMMEDIATE RELEASE
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IBIS TECHNOLOGY RECEIVES ORDER TO SUPPLY BOOKHAM TECHNOLOGY, LTD.
WITH SIMOX-SOI WAFERS FOR ASOC(TM) ACTIVE INTEGRATED OPTICAL CIRCUITS;
NEW COMMERCIAL PRODUCT ADOPTION OF IBIS SIMOX SOI WAFERS
DANVERS, MA - JUNE 24, 1997 - Ibis Technology Corporation (NASDAQ:IBIS), the
leading supplier of SIMOX-SOI (Separation by IMplanted
OXygen/Silicon-On-Insulator) wafers to the semiconductor industry, today
announced that it has received an order from Bookham Technology Ltd.
("Bookham") for Ibis' SIMOX-SOI wafers which Bookham has indicted will be used
in manufacturing of its newly developed ASOC(TM) (Active Silicon Integrated
Optical Circuit) fiber optic access network transceivers. The purchase order
calls for Ibis to provide certain quantities of SIMOX-SOI wafers over a certain
period of time.
Bookham, which is headquartered in Oxfordshire, UK and is a leader in the design
and manufacture of integrated optical circuits, has developed ASOC(TM), a
unique circuit fabrication process which incorporates SIMOX-SOI technology.
Bookham has recently announced that it will construct the world's first wafer
fab for volume production of ASOCs(TM) during the second half of this year.
As described at the 1997 OFC (Optical Fibers Conference) where the ASOC(TM)
transceiver was launched by Bookham, a key to ASOC(TM) technology is the use of
an SOI substrate. ASOC(TM) utilizes SIMOX-SOI because SOI structures enable the
alignment of the various optical circuit elements and waveguide structures. By
using SOI wafer processing (specifically SIMOX-SOI wafers) in producing these
transceivers, monolithic active devices based on low-loss single mode waveguide
structures at standard telecom wavelengths can be made.
"After looking closely at various SOI technologies, we determined that
SIMOX-SOI is presently the most effective SOI wafer product for manufacturing
ASOC(TM) transceivers," said Peter Herman, Bookham's Operations Manager. "We
are excited about the potential of ASOC(TM) technology and working with Ibis to
provide us with a SIMOX-SOI wafer supply to meet our evolving manufacturing
needs."
"We are particularly excited about this development as it represents a new
commercial product adoption of our SIMOX-SOI material," said Dr. Geoffrey
Ryding, President and Chief Executive Officer of Ibis Technology Corporation.
"Also, it is the largest single order, in terms of wafer volumes, in Ibis'
history. Bookham has developed a timely product application incorporating
SIMOX-SOI technology, and we believe that this unique application further
validates SIMOX-SOI technology. We are pleased that Bookham has chosen Ibis to
be their vendor for SIMOX-SOI wafers, and we look forward to supporting the
requirements of the growing networking and telecommunications markets."
- more -
Ibis Technology Corporation 32A Cherry Hill Drive Danvers, MA 01923
Telephone (508) 777-4247 or (508) 777-IBIS Fax (508) 777-6570
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IBIS TECHNOLOGY CORPORATION
June 24, 1997 -- Page Two
According to Bookham, ASOC(TM) technology delivers high performance optical
components and allows the integration of optical signals from fiber optic
cables and electronic circuits on the same chip. ASOC(TM) can be applied to a
wide range of products such as optical transceivers and switches for telecom
access networks and optical sensors and may ultimately provide consumers with
direct connection of devices such as computers, television-based internet
devices, cable TV, and music services to high-speed fiber optic networks using
fiber optic connections.
As users require more functions, such as on-demand movies and increased internet
access, the required bandwidth increases. Currently, high bandwidth fiber optic
networks can be used to carry high speed signals to local distribution devices.
However, these high speed signals are distributed to individual homes and
businesses using lower bandwidth conventional wiring, which receives the
information at a slower rate.
Bookham believes that the higher bandwidth of ASOC(TM) transceivers will enable
larger amounts of information to be moved at a faster rate. One limitation thus
far has been that fiber optic networks to the home or office are expensive for
most consumers largely due to the component costs of the required hardware.
According to Bookham, ASOC(TM) technology addresses this using conventional
silicon circuit fabrication technology on SOI substrates, allowing the
integration of optical signals from fiber optic cables and electronic circuits
on the same chip at a much lower cost than existing methods.
"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 Bookham Technology Ltd. is available from Nicole de
Moulpied, Sales & Marketing Executive, Bookham Technology Ltd., 2055 Gateway
Place, Suite 400, San Jose, California 95110, telephone: (408) 451-3940,
e-mail: [email protected], and on Bookham's World Wide Web site on the
Internet located at http://www.bookham.co.uk or http://www.bookham.com.
Information about Ibis Technology Corporation and SIMOX-SOI is available on
Ibis' World Wide Web site on the Internet located at http://www.ibis.com.
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