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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): JANUARY 27, 1999
IBIS TECHNOLOGY CORPORATION
(Exact name of registrant as specified in its charter)
MASSACHUSETTS 0-23150 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: (978) 777-4247
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ITEM 5. OTHER EVENTS.
On January 27, 1999, the Registrant publicly disseminated a press
release announcing that it has completed the sale of two Ibis 1000 implanters to
a leading domestic semiconductor manufacturer in a transaction valued at
approximately $8 million. 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.
(c) Exhibit.
99.1 The Registrant's Press Release dated January 27, 1999.
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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: January 29, 1999 /S/ DEBRA L. NELSON
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Debra L. Nelson, Chief Financial Officer
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EXHIBIT INDEX
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EXHIBIT SEQUENTIAL
NUMBER DESCRIPTION PAGE NUMBER
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<S> <C> <C>
99.1 The Registrant's Press Release 5
dated January 27, 1999
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Exhibit 99.1
[LOGO]
CONTACT:
Debra L. Nelson
Ibis Technology Corporation
(978) 777-4247
FOR IMMEDIATE RELEASE:
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IBIS TECHNOLOGY CORPORATION COMPLETES
EQUIPMENT SALE TO A LEADING DOMESTIC SEMICONDUCTOR MANUFACTURER
IN A TRANSACTION VALUED AT APPROXIMATELY $8 MILLION
DANVERS, MA -- January 27, 1999 -- Ibis Technology Corporation (NASDAQ:IBIS),
the leading manufacturer of high current oxygen implanters and supplier of
SIMOX-SOI (Separation by IMplantation of OXygen / Silicon-On-Insulator)
wafers to semiconductor manufacturers, today announced that it has completed
the sale of two Ibis 1000 implanters to a leading domestic semiconductor
manufacturer in a transaction valued at approximately $8 million.
Martin J. Reid, President and Chief Executive Officer of Ibis Technology
Corporation, commented: "We are very pleased with the continued commitment to
our SIMOX-SOI technology. We believe that the sale of these two additional
Ibis 1000 implanters represents significant progress in establishing SIMOX-SOI
as an industry standard and suggests that the technology may also be adopted
by other leading semiconductor manufacturers to remain competitive. We
anticipate that these two implanters will be delivered by the third quarter
of 1999.
"The significance of SIMOX-SOI is that it offers designers and manufacturers
of semiconductor integrated circuits unique features in terms of performance.
The benefits of SIMOX-SOI are ideally suited to devices requiring low power
consumption and high speed performance. The growth of markets for such
devices, along with the challenges of low voltage operation and continued
device scaling, have brought SIMOX-SOI, as well as other technologies such as
copper and silicon germanium, to the forefront of these applications. The
January 1999 issue of IEEE Spectrum magazine listed silicon on insulator as a
highlight for 1999 and indicated that major obstacles have been removed to
the mass production of integrated circuits on SOI wafers resulting in the
same yield as bulk silicon. The article also stated that SOI can improve
circuit performance by up to 35 percent, or alternatively, performance can be
kept the same and power reductions of up to 66 percent may be achieved. We
believe that the recent announcements signal that the commercial phase of
SIMOX-SOI adoption is in progress, and will grow over the next two years. The
September 1998 Electronic Materials Report stated 'the SOI wafer business
will likely become a billion dollar segment of the future silicon wafer
market.'
"These are exciting and challenging times for both our industry and our
Company. We look forward to working with our customers to further expand the
industry's acceptance of SIMOX-SOI technology and continuing the efforts to
move into mainstream commercial production."
-more-
Ibis Technology Corporation 32 Cherry Hill Drive Danvers, MA 01923
Telephone (978) 777-4247 or (978) 777-IBIS Fax (978) 777-6570
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IBIS TECHNOLOGY CORPORATION
January 27, 1999
Page Two
Ibis Technology Corporation is an advanced materials company which
manufactures Ibis 1000 high current oxygen implanters and 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 conventional 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.
"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, the impact of the
Year 2000 issue; 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.
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 32 Cherry Hill Drive Danvers, MA 01923
Telephone (978) 777-4247 or (978) 777-IBIS Fax (978) 777-6570
