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Ibis cash flow remains low |
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Feb 04, 2005 at 04:00 PM |
Ibis Technology Corporation announced a loss $1.6 million for its
financial results for the third quarter ended September 30, 2004. Total
revenues for the quarter were $7.2 million, which includes
approximately $7 million of equipment revenue related to the sale of an
i2000 implanter that was accepted by Ibis' customer in the third
quarter of 2004. This compares to total revenues of $0.2 million in the
preceding quarter and $0.3 million in the third quarter of 2003.
"Based on the prompt installation and final testing and acceptance of
an i2000 implanter sold to a leading silicon wafer manufacturer, we are
pleased to be recognizing equipment revenue of approximately $7 million
this quarter," said Martin J. Reid, president and CEO of Ibis
Technology Corporation. "In response to the global semiconductor
industry's demand for initial production quantities of SOI wafers, the
world's leading silicon wafer manufacturers are evaluating their SOI
wafer manufacturing alternatives."
"Based on new information from our potential customers, we now believe
that these orders are likely to be received during 2005," commented
Reid. "Although we believe that SIMOX will continue to gain ground with
the wafer manufacturers, the overall ramp to acceptable final
production yields of 300mm SOI seems to be taking longer than
anticipated. We believe this situation is temporary and has resulted in
overall lower-than-planned, end-ofline yields for all technologies in
these new 300mm fabs. This is likely to delay the receipt of additional
i2000 orders for Ibis."
The Company ended the quarter with approximately $8 million of cash on
hand, and believes it could sustain operations at current levels for
approximately 9 to 12 months.
Ibis has also claimed that it has achieved a significant breakthrough
in 300-millimeter SIMOX-SOI wafer technology by substantially reducing
the roughness of both the top surface of the wafer and the interface
between the top-silicon and buriedoxide layers. Roughness values of
less than one angstrom can now be achieved, representing a nearly four
times improvement over previous results, according to the company. Ibis
believes that these improved SIMOX-SOI wafers will meet or exceed the
most demanding SOI wafer roughness specifications in the industry. The
smoother features also may provide customers with better sensitivity on
optical and laser-based measurement tools.
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