Ibis Technology Announces Final Customer Acceptance of Oxygen Implanter; SUMCO grants final acceptance for their first Ibis i2000 implanter, while their second i2000 prepares for factory acceptance testing at Ibis.DANVERS, Mass. -- Ibis ibis (ī`bĭs), common name for wading birds with long, slender, decurved bills, found in the warmer regions of both hemispheres. The body is usually about 2 ft (61 cm) long. Most ibises nest in colonies. Technology Corporation (Nasdaq NM: IBIS), a leading provider of SIMOX-SOI implantation implantation /im·plan·ta·tion/ (im?plan-ta´shun) 1. attachment of the blastocyst to the epithelial lining of the uterus, its penetration through the epithelium, and, in humans, its embedding in the stratum compactum of the equipment to the worldwide semiconductor industry, today announced final customer acceptance of the Ibis i2000 oxygen implanter that was ordered by Sumitomo Mitsubishi Silicon Corporation (SUMCO), the world's second largest silicon wafer manufacturer. The implanter was ordered in January 2005 and shipped to that customer in Japan in June 2005. Martin J. Reid, president and chief executive officer of Ibis Technology Corporation, said, "We are pleased that the SUMCO implanter has completed the final acceptance process, and we expect that SUMCO will begin using this tool for producing 300-millimeter SIMOX-SOI wafers immediately. This will provide an additional, highly qualified source of supply for SIMOX-SOI wafers to help satisfy the increasing demand." Reid explained that final acceptance for this particular tool was delayed because Ibis agreed to hold the machine to a higher standard of performance for final acceptance in Japan than for factory acceptance in Massachusetts. "This gained significant ground on final product quality goals we had planned to reach later this year, but it took some time to accomplish. In addition, we experienced a disruption of the operation of the machine at SUMCO just as we were about to begin the final qualification runs. The delay was caused by a mechanical fault in a pressure sensor A pressure sensor measures the pressure, typically of gases or fluids. Pressure is an expression of the force required to stop a gas or fluid from expanding, and is usually stated in terms of force per unit area. A pressure sensor generates a signal related to the pressure imposed. that caused a shutdown of the machine. The problem has been diagnosed and documented, repairs have been made and the tool now has successfully completed the final acceptance tests at the higher standard of performance." SUMCO ordered a second Ibis i2000 implanter, as announced in October 2005. This second implanter now is being prepared for factory acceptance testing (programming) acceptance testing - Formal testing conducted to determine whether a system satisfies its acceptance criteria and thus whether the customer should accept the system. at Ibis. The two implanter orders from SUMCO followed on the heels of an implanter order from another leading silicon wafer supplier that was received in 2004. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Reid, Ibis believes that these orders substantiate To establish the existence or truth of a particular fact through the use of competent evidence; to verify. For example, an Eyewitness might be called by a party to a lawsuit to substantiate that party's testimony. the Company's position that it is the world's silicon wafer manufacturers who are best positioned to meet the increasing demand for production volumes of SOI (Silicon On Insulator) A chip architecture that increases transistor switching speed by reducing capacitance (build-up of electrical charges in the transistor's elements), and thus reducing the discharge time. The power requirement is also reduced in some designs. wafers for the global semiconductor industry. "Economics will drive the success or failure of SIMOX-SOI," said Reid, "and from our perspective, the economics should favor a supplier that controls the entire SOI substrate fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. process, including manufacturing the starting silicon wafer that represents a significant part of the total cost of each SOI wafer." Reid added, "It remains our goal to be the dominant supplier of oxygen implantation equipment to the world's wafer manufacturers so they can, in turn, be the most efficient and cost-effective suppliers of SOI wafers to the semiconductor industry." SUMCO has requested that Ibis expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. delivery of the second implanter, which is expected to complete the factory acceptance process in the second quarter of this year, with final customer acceptance expected in the third or fourth quarter of this year. As a result of SUMCO's final acceptance of their first i2000, Ibis plans to recognize revenue of approximately $6 million for this implanter in the current fiscal quarter, ending March 31. Revenue of approximately $7 million for the second SUMCO implanter will be recognized after final customer acceptance, which is expected in the third or fourth quarter of this year. About SIMOX-SOI Silicon-on-Insulator (SOI) refers to a substrate technology where an insulating layer is formed within a silicon wafer, isolating the thin top layer of silicon where the active transistors will be manufactured from the rest of the silicon substrate. The thin buried oxide layer acts as a barrier that can reduce electrical leakage from the transistors, resulting in semiconductor devices that are faster and more power efficient. These benefits make SOI a valuable technology for chipmakers producing IC's for high performance applications such as servers and workstations, portable and desktop computers, wireless communication devices, video game consoles This is a list of video game consoles by the era they appeared in. Eras are named based on the dominant console type of the era (even though not all consoles of those eras are of the same type). Some eras are referred to based on how many bits a major console could process. and automotive electronics. Separation-by-IMplantation-of-OXygen (SIMOX See SOI. ) refers to a technique used to manufacture SOI wafers where an oxygen implanter and an annealing annealing (ənēl`ĭng), process in which glass, metals, and other materials are treated to render them less brittle and more workable. process are used to create a very thin insulating layer within the wafer, just below a thin layer of silicon on the top of the wafer. Ibis believes that, compared to competing technologies, the SIMOX process offers high quality SOI wafers at competitive costs in production quantities. About Ibis Technology Ibis Technology Corporation is a leading provider of oxygen implanters for the production of SIMOX-SOI (Separation-by-Implantation-of-Oxygen Silicon-On-Insulator) wafers for the worldwide semiconductor industry. Headquartered in Danvers, Massachusetts Danvers is a town in Essex County, Massachusetts, United States. Located on the Danvers River near the northeastern coast of Massachusetts, Danvers is most widely known for its association with the 1692 Salem witch trials. , the company maintains an additional office in Aptos, California Aptos is a census-designated place (CDP) in Santa Cruz County, California, United States. The population was 9,396 at the 2000 census. Aptos is an unincorporated area of Santa Cruz county, consisting of several small communities:
"Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 This release contains express or implied forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding, among other things, (i) the expected factory and on-site acceptance of the second i2000 implanter ordered by SUMCO in October 2005, (ii) attaining implanter improvements to the degree and in the timeframe necessary to meet customer expectations, (iii) the timing and likelihood of revenue recognition on the SUMCO implanters, (iv) the timing and likelihood of revenue recognition and payment for SUMCO's second order, (v) the timing of SUMCO's ramping to production quantities on the first i2000 implanter (vi) customer interest in and demand for, and market acceptance of, the Company's SIMOX-SOI technology, (vii) the ability of the wafer manufacturer's to produce sufficiently low cost SIMOX SOI wafers, utilizing both our SIMOX equipment and technology as well as other equipment manufacturer's tools, (viii) the Company's belief that wafer manufacturers will become the primary suppliers of SIMOX-SOI wafers to the chipmaking industry, (ix) the Company's ability to conduct its operations in a manner consistent with its current plan and existing capital resources or otherwise to obtain additional implanter orders or to secure financing to continue as a going concern, (x) the Company's plan to focus on supplying implanters to wafer manufacturers, (xi) the Company's expectations regarding future orders for i2000 implanters, (xii) the adequacy of the Company's cash resources for continuing and future operations, and (xiii) the adoption rate of SOI technology. Such statements are neither promises nor guarantees, but rather are subject to risks and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to, cessation as a going concern due to the depletion of the Company's cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. at an unanticipated rate combined with an inability to obtain customer orders or to secure financing, future continued migration to SOI technology and market acceptance of SIMOX, the level of demand for the Company's products, the Company's ability to pursue and maintain further strategic relationships, partnerships and alliances with third parties, the Company's ability to protect its proprietary technology, the potential trends in the semiconductor industry generally, the ease with which an i2000 can be installed and qualified in fabrication facilities, the likelihood that implanters, if ordered, will be qualified and accepted by customers without substantial delay, modification, or cancellation, in whole or in part, the likelihood and timing of revenue recognition on such transactions, the impact of competitive products, technologies and pricing, the impact of rapidly changing technology, the possibility of further asset impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. and resulting charges, equipment capacity and supply constraints or difficulties, the Company's limited history in selling implanters, general economic conditions, and other risks and uncertainties described in the Company's Securities and Exchange Commission filings from time to time, including but not limited to, the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2004. All information set forth in this press release is as of March 13, 2006, and Ibis undertakes no duty to update this information unless required by law. |
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