Ibis turns small profit in ’06, projects orders for 2H07

January 18, 2007 – Ibis Technology Corp., a provider of SIMOX-SOI implantation equipment, says it should report a $0.4 million profit for 2006 on sales of $14.0 million (based on two tool sales), vs. a $9.2 million loss on just $0.6 million in revenues in the prior year, representing the company’s return to profitability since stopping SOI wafer sales two years ago.

“Clearly, the company has demonstrated the ability of its equipment business model to leverage its margins, leading to earnings that we expect could ramp significantly as revenues increase,” said president/CEO Charles McKenna, in a statement.

Ibis reiterated recent guidance that further implant orders likely will be pushed out to late 2H07, and that the company has responded to conserve cash by reducing expenses by ~40%, including headcount reductions, increasing outside contract work, and “radically reducing the consumption of materials, process gases and utilities.”

The company also acknowledged that it likely needs to raise additional funds in the near future, and is “exploring equity offerings and other forms of financing.”


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