<PAGE>
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
----------------------
Date of Report (Date of earliest event reported): October 7, 1998
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Ibis Technology Corporation
---------------------------
(Exact name of registrant as specified in
its charter)
Massachusetts 0-23150 04-2987600
- ------------- --------- ------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
32 Cherry Hill Drive, Danvers, Massachusetts 01923
--------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (978) 777-4247
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<PAGE>
Item 5. Other Events.
- ------ ------------
On October 7, 1998, the Registrant publicly disseminated two press
releases announcing (i) that it has begun shipping the first R&D samples of
its new, low-cost Advantox-TM- 50 ultra-thin SIMOX-SOI material and next
generation fully-depleted SOI technology to customers for circuit evaluation,
and (ii) that it has been awarded two new development contracts totaling
$762,000 under the Small Business Innovative Research (SBIR) program.
The new Advantox-TM- 50 wafer process, which is targeted for low power
portable electronic devices, yields material having a 50 nm thick
buried-oxide layer. Advantox-TM- 50 expands the range of consumer
applications for SIMOX-SOI materials to include lower cost, high performance
MPUs and portable devices such as pagers, cellular phones, personal digital
assistants, portable computers, and next-generation devices which combine the
functions of theses devices.
The Registrant has been awarded a two year, $687,000 Phase II SBIR
contract by the U.S. Defense Advanced Research Programs Agency (DARPA) and
the U.S. Army. This contract is a follow-on contract resulting from the
successful completion of a Phase I SBIR contract earlier this year. In
addition, the Registrant has been awarded a six month, $75,000 Phase I SBIR
contract by the U.S. Department of Commerce and the National Institute of
Standards (NIST).
The information contained in the two press releases is incorporated herein
by reference and filed as Exhibits 99.1 and 99.2 hereto.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits.
99.1 The Registrant's Press Release dated October 7, 1998.
99.2 The Registrant's Press Release dated October 7, 1998.
2
<PAGE>
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: October 9, 1998 /s/Debra L. Nelson
---------------------------------
Debra L. Nelson, Chief Financial
Officer
3
<PAGE>
EXHIBIT INDEX
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<TABLE>
<CAPTION>
Exhibit Sequential
Number Description Page Number
- ------- ----------- -----------
<S> <C> <C>
99.1 . . . . . . .The Registrant's Press Release 5
dated October 7, 1998
99.2 . . . . . . .The Registrant's Press Release 7
dated October 7, 1998
</TABLE>
4
<PAGE>
Ibis
Technology Corporation
CONTACT:
Debra L. Nelson Van Negris/Philip J. Denning
Ibis Technology Corporation Kehoe, White, Van Negris & Company, Inc.
(978) 777-4247 (212) 396-0606
FOR IMMEDIATE RELEASE
- ---------------------
Ibis Technology Corporation Demonstrates
New Low-Cost Advantox-TM- 50 Ultra-Thin SIMOX-SOI Material
For Low Power Portable Device Applications;
ADVANTOX-TM- 50 IS LOWEST-COST SIMOX-S0I MATERIAL AVAILABLE
WITH PRICE TARGET OF APPROXIMATELY $200
FOR 200MM SIMOX-S0I WAFERS IN HIGH-VOLUME PRODUCTION;
NOW PROVIDING EVALUATION SAMPLES OF NEW ADVANTOX-TM- 50 MATERIAL TO CUSTOMERS
DANVERS, MA--October 7, 1998--Ibis Technology Corporation (NASDAQ:IBIS), the
leading manufacturer of Ibis 1000 high current oxygen implanters and supplier
of SIMOX-SOI (Separation by IMplanted OXygen/Silicon-On-Insulator) wafers to
the semiconductor industry, today announced that is is now shipping the first
R&D samples of its new, low-cost Advantox-TM- 50 ultra-thin SIMOX-SOI
material and next-generation fully-depleted SOI technology to customers for
circuit evaluation.
The new Advantox-TM- 50 wafer process, which is targeted for low power
portable electronic devices, yields material having a 50 nm thick
buried-oxide layer. Advantox-TM- 50 expands the range of consumer
applications for SIMOX-SOI materials to include lower cost, high performance
MPUs and portable devices such as pagers, cellular phones, personal digital
assistants, portable computers, and next-generation devices which combine the
functions of these devices.
Martin J. Reid, President and Chief Executive Officer of Ibis Technology
Corporation, commented: "Ibis is committed to aggressively pursuing the
development of lower cost, high quality SIMOX-SOI processes in response to
the requirements of our customers. Advantox-TM- 50 addresses the
requirements of customers who are pursuing both partially depleted and fully
depleted SOI technologies from 0.25 micrometer down to 0.025 micrometer
channel lengths. Our customers are already combining the benefits of
SIMOX-SOI with other key technologies such as copper wiring, to achieve GHz
speeds and low power consumption for microprocessor applications."
The Advantox-TM- 50 manufacturing process has the potential to increase the
throughput of the Ibis 1000 implanter by a factor of four compared to the
standard full-dose SIMOX-SOI material presently in use by integrated circuit
manufacturers. Mr. Reid added: "We believe that the new Advantox-TM- 50
process, enabled by the technology embodied in the Ibis 1000 oxygen implanter,
will provide the lowest cost ultra-thin film SIMOX-SOI material, with a
high-volume target price of approximately $200 per 200mm diameter wafer. The
lower cost of the wafers will expand the number of products to which
SIMOX-SOI will be applied." Ibis' SIMOX-SOI wafer product portfolio also
includes full-dose SIMOX, Advantox-TM- 190, Advantox-TM- 170, and
Advantox-TM- 120.
<PAGE>
Ibis Technology Corporation
Page Two
October 7, 1998
The development of Ibis' new Advantox-TM- 50 SIMOX-SOI material is being
supported in part, by DARPA under the Small Business Innovative Research
Program. The first phase of the development program has allowed Ibis to
demonstrate the feasibility of this new process, and produce samples on an
alpha-version of the material for evaluation by a customer. The recently
announced second phase will allow Ibis to optimize the process for large
volume manufacturing, including process optimization to obtain the highest
quality, and equipment optimization to obtain the lowest cost material.
"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.
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.
<PAGE>
ibis
Technology Corporation
CONTACT:
Debra L. Nelson Van Negris/Philip J. Denning
Ibis Technology Corporation Kehoe, White, Van Negris & Company, Inc.
(978) 777-4247 (212) 396-0606
FOR IMMEDIATE RELEASE
IBIS TECHNOLOGY CORPORATION AWARDED $762,000 IN NEW DEVELOPMENT CONTRACTS
DANVERS, MA--October 7, 1998--Ibis Technology Corporation (NASDAQ:IBIS), the
leading manufacturer of Ibis 1000 high current oxygen implanters and supplier
of SIMOX-SOI (Separation by IMplanted OXygen/Silicon-On-Insulator) wafers in
the semiconductor industry, today announced that it has been awarded two new
development contracts totaling $762,000 under the Small Business Innovative
Research (SBIR) program.
A two year, $687,000 Phase II SBIR contract was awarded to Ibis by the U.S.
Defense Advanced Research Programs Agency (DARPA) and the U.S. Army. The
contract is a follow-on contract resulting from the successful completion of
a Phase I SBIR contract earlier this year. The program, entitled "Low-dose
low-energy SIMOX for fully depleted SOI applications", is intended to help
develop lower cost SIMOX-SOI substrates with very thin layers for use in
advanced commercial and radiation hardened SIMOX-SOI applications.
A six month, $75,000 Phase I SBIR contract, awarded by the U.S. Department of
Commerce and the National Institute of Standards (NIST), is entitled
"Statistical Process Control of SIMOX-SOI for Advanced CMOS Applications".
This program is focused on enhancing the quality of SIMOX-SOI for high volume
manufacturing by providing improved statistical process control feedback of
certain material parameters.
Martin J. Reid, President and Chief Executive Officer of Ibis Technology
Corporation, commented: "We believe that the awarding of these contracts by
the large government agencies represents confidence in the future of Ibis and
in SIMOX-SOI technology. These programs will help to improve the large scale
manufacturing of SIMOX-SOI technology, as well as reducing the cost of SOI
materials which we believe will contribute to the wide-scale acceptance of
SIMOX-SOI based products. Ibis is grateful for the continuing support of the
government."
"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.
- more -
Ibis Technology Corporation 32 Cherry Hill Drive Danvers, MA 01923
Telephone (978) 777-4247 or (978) 777-IBIS Fax (978) 777-6570
<PAGE>
Ibis Technology Corporation
October 7, 1998
Page 2
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.
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.
# # #
Ibis Technology Corporation 32 Cherry Hill Drive Danvers, MA 01923
Telephone (978) 777-4247 or (978) 777-IBIS Fax (978) 777-6570
