Ibis posts $3.4 million loss but sales grow 6% from prior quarter
DANVERS, Mass.--Ibis Technology Corp. here today reported a 6% sequential increase in revenues to $1.5 million in the fourth quarter compared to $1.4 million in Q3. Revenues were 62% below $4.0 million in the fourth quarter of 2000.
The supplier of silicon-on-insulator wafers and oxygen implanter tools said it had a net loss of $3.4 million in the fourth quarter. The company had a net loss of $2.4 million in the third quarter of 2001, including non-recurring income of $1.4 million, and a net loss of $309,000 in Q4 of 2000.
For the entire year in 2001, Ibis sales totaled $7.4 million, a decline of 49% from $14.5 million in 2000. The company's net loss for 2001 totaled $9.6 million vs. a net loss of $1.5 million in the prior year. Wafer sales decreased 34% in 2001, and there were no revenues from implanter sales last year.
"As planned, qualification of our Advantox MLD wafers by one of our largest customers is nearing completion, and we expect to slowly ramp wafer shipments to them," said Martin J. Reid, president and CEO of Ibis. "Other chipmakers are qualifying our Advantox MLD products for their use." He added that the new Ibis 2000 oxygen implanter is also progressing through qualifications as well.
"While we remain cautious in our outlook for the near term, we are encouraged that virtually all of the major microprocessor manufacturers are either already producing products based on SOI wafers or have announced plans to adopt SOI technology within the next several years," Reid said. The company produces SOI wafers using separation-by-implantation-of-oxygen (SIMOX) techniques. |
