Asyst (ASYT) 8-K Asyst Reports Results for Third Quarter of Fiscal 2007

Exhibit 99.1

FOR IMMEDIATE RELEASE

ASYST REPORTS RESULTS FOR THIRD QUARTER OF FISCAL 2007

     FREMONT, Calif., Feb. 1, 2007 — Asyst Technologies, Inc. (Nasdaq: ASYT), a leading provider of integrated automation solutions that enhance semiconductor and flat panel display manufacturing productivity, today reported financial results for its fiscal third quarter ended Dec. 31, 2006.

     Net sales for the quarter were $126 million, up 3% from $123 million in the prior sequential quarter. Net sales of tool and fab automation products at ATI were $48 million, which compares with $50 million in the prior sequential quarter. Net sales of Automated Material Handling Systems (AMHS) at Asyst Shinko, Inc. (ASI) were $78 million, which compares with $72 million in the prior sequential quarter.

     For the fiscal third quarter, net loss according to GAAP was $0.2 million, or less than $0.01 per share, which compares with a net loss of $2.7 million, or $(0.06) per share, in the prior sequential quarter. GAAP net income for the quarter included the impact of $1.0 million in legal and accounting fees and expenses related to the company’s previously announced inquiry into past stock option grants and practices, which was completed in the quarter. GAAP net income also includes the impact of approximately $1.0 million in legal fees and costs associated with our pending patent infringement lawsuit against Jenoptik AG (discussed further below).

     Non-GAAP net income, which excludes the stock option inquiry costs, the net impact of intangibles amortization, and stock-based compensation expense, was $6.0 million, or $0.12 per share, which compares with non-GAAP net income of $8.2 million, or $0.17 per share, in the prior sequential quarter.

     Total bookings for the quarter were $112 million, which compares with $119 million in the prior sequential quarter. Bookings at ATI were $42 million, which compares with $50 million in the fiscal second quarter. Bookings at ASI were $70 million, essentially flat with $69 million in the prior sequential quarter. The company’s overall book-to-bill ratio was 0.88:1 and backlog as of the end of the quarter, adjusted for the impact of a weaker Japanese Yen, was approximately $188 million.

     Steve Schwartz, chairman and chief executive officer of Asyst, said, “The business generally performed to our expectations in the fiscal third quarter, although ATI bookings reflected recent business trends at our OEM customers. Looking into calendar 2007, we currently anticipate that our semiconductor customers will invest in fab automation at approximately the same level as in calendar 2006. In this stable environment, we are continuing to focus on gaining market share by converting equipment makers to our highly value-added Spartan™ equipment front-end, further penetrating the successful Spartan Sorter into Japan and Asia, and leveraging our broad portfolio of products to assume more responsibility for customers’ fab automation requirements. In addition, we are increasing our investment in new product development and redoubling our efforts in product cost reduction, with the objectives of increasing our technical lead and achieving a level of profitability that will allow us to continue to invest in the next generation of fab automation technology.”

     The company provided the following guidance for the fiscal fourth quarter ending Mar. 31, 2007:

• Net sales for the fiscal fourth quarter are expected to be in the range of $125 to $140 million.

• GAAP net income is expected to be approximately breakeven.

• Non-GAAP net income for the fiscal fourth quarter is expected to be in the range of $0.10 to $0.13 per share. In calculating non-GAAP net income, the company expects to exclude:

 – $3.6 million of intangibles amortization, net of taxes

– $1.5 million of stock-based compensation expense

     Asyst separately announced that a federal jury in the United States District Court for the Northern District of California, returned yesterday a verdict in Asyst’s favor in the company’s long-pending patent lawsuit against Emtrak, Inc., Jenoptik AG, and others. The verdict validated Asyst’s patent relating to its innovative Smart Traveler technology, and awarded Asyst damages of approximately $75 million. The verdict is subject to several post-trial motions, which could take several months to resolve. Those motions and other factors, including legal fees, could significantly reduce Asyst’s recovery in the lawsuit.

     Asyst also announced that it recently received a letter from the Securities and Exchange Commission, San Francisco District Office, notifying the company that its previously disclosed investigation of the company’s past stock option grants and practices has been terminated with a recommendation that no enforcement action be taken. In addition, the U.S. Attorney’s office also recently informed the company that it has suspended the compliance date until further notice for the subpoena issued by the U.S. Attorney’s office in its related investigation.

About Asyst

     Asyst Technologies, Inc. is a leading provider of integrated automation solutions that enable semiconductor and flat panel display (FPD) manufacturers to increase their manufacturing productivity and protect their investment in materials during the manufacturing process. Encompassing isolation systems, work-in-process materials management, substrate-handling robotics, automated transport and loading systems, and connectivity automation software, Asyst’s modular, interoperable solutions allow chip and FPD manufacturers, as well as original equipment manufacturers, to select and employ the value-assured, hands-off manufacturing capabilities that best suit their needs. Asyst’s homepage ishttp://www.asyst.com

Conference Call Details

     A live webcast of the conference call to discuss the quarter’s results will take place today at 5:00 pm Eastern Time. The webcast will be publicly available on Asyst’s website athttp://www.asyst.com and accessible by going to the investor relations page and clicking on the “webcast” link. For more information, including this press release, any non-GAAP financial measures that may be discussed on the webcast as well as the most directly comparable GAAP financial measures and a reconciliation of the difference between those GAAP and non-GAAP financial measures, as well as any other material financial and other statistical information contained in the webcast, please visit Asyst’s website atwww.asyst.com. A replay of the Webcast may be accessed via the same procedure. In addition, a standard telephone instant replay of the conference call is available by dialing (303) 590-3000, followed by the passcode 11082905 #. The audio instant replay is available from Feb. 1 at 7:00 pm Eastern Time through Feb 15 at 2:59 a.m. Eastern Time.

About Our Non-GAAP Operating Results and Adjustments

     To supplement our consolidated financial results prepared under generally accepted accounting principles (“GAAP”), we use a non-GAAP measure of operating results that is GAAP net income (loss) adjusted to exclude certain costs, expenses and gains. Our non-GAAP net income (loss) gives an indication of our baseline performance before gains, losses or other charges that are considered by management to be outside of our core operating results. In addition, our non-GAAP net income (loss) is among the primary indicators management uses as a basis for planning and forecasting future periods. This measure is not in accordance with, or an alternative for, GAAP and may be materially different from non-GAAP measures used by other companies. We compute non-GAAP net income (loss) by adjusting GAAP net income (loss) for the impact of amortization of acquisition-related intangibles, restructuring and impairment charges, costs related to events outside the normal course of business, and other non-cash charges and gains. The presentation of this additional information should not be considered in isolation or as a substitute for net income (loss) prepared in accordance with GAAP.

Forward Looking Statements

     Except for statements of historical fact, the statements in this release are forward-looking. The forward-looking statements include statements regarding future financial results; and other factors more fully detailed in the company’s annual report on Form 10-K for the year ended March 31, 2006, as amended on Form 10-K/A, and other reports filed with the Securities and Exchange Commission. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to: uncertainties whether the expected range of results discussed above will change as Asyst finalizes and files its financial statements; uncertainties relating to the time needed to complete the financial review and preparation of financial statements by Asyst, and the time needed by our independent registered public accounting firm to complete its audit, review and other procedures relating to the financial statements; distraction of management’s attention from our operations as a result of past or future issues relating to past option grants; uncertainties arising from our inability to maintain effective internal control over financial reporting; the likelihood that fees and expenses associated with the governmental inquiries, accounting review, pending and potential lawsuits, or other matters arising from the company’s prior stock option practices are or will be material in any reporting period; requests by current or former officers and directors of the company for indemnification or advancement or reimbursement of fees and expenses; the impact of lawsuits or other proceedings initiated in relation to the company’s prior stock option grant practices; uncertainty that these or other matters could comprise a material weakness in the Company’s internal control over financial reporting, which could prevent the company from timely meeting its future reporting requirements or obligations to maintain effective internal control; volatility in our stock price pending resolution of or resulting from the matters discussed above; the volatility of semiconductor industry cycles; our ability to achieve forecasted revenues, margins and profits; failure to respond to rapid demand shifts; dependence on a few significant customers; the timing and scope of decisions by customers to transition and expand fabrication facilities and investment in fab automation equipment; our ability to maintain or expand market share in our product segments; our ability to improve gross margins through product cost reduction; continued risks associated with the acceptance of new products and product capabilities; the risk that customers will delay, reduce or cancel planned projects or bookings and thus delay recognition or the amount of our anticipated revenue; competition in the semiconductor equipment industry and specifically in AMHS; failure to retain and attract key employees; and other factors more fully detailed in the company’s annual report on Form 10-K for the year ended March 31, 2006, and other reports filed with the Securities and Exchange Commission.

“Asyst” is a registered trademark and Sparta is a trademark of Asyst Technologies, Inc. “Asyst Shinko” is a trademark of Asyst Shinko, Inc. All Rights Reserved.

Contact: John Swenson
Vice President, Investor Relations & Corporate Communications
510-661-5000

ASYST TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited; in thousands)

	December 31,		March 31,
	2006		2006
ASSETS
CURRENT ASSETS:
Cash, cash equivalents and short-term investments	$	98,284	$	109,926
Accounts receivable, net		128,933		141,453
Inventories		60,528		33,219
Prepaid expenses and other		29,234		26,831
Total current assets		316,979		311,429
LONG-TERM ASSETS:
Property and equipment, net		23,839		23,108
Goodwill		82,925		58,840
Intangible assets, net		47,519		19,334
Other assets		6,317		2,583
Total long-term assets		160,600		103,865
Total assets	$	477,579	$	415,294
LIABILITIES, MINORITY INTEREST AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Short-term loans and notes payable	$	1,540	$	1,443
Current portion of long-term debt and capital leases		8,232		1,368
Accounts payable		111,928		88,785
Accrued and other liabilities		94,203		62,902
Deferred margin		8,403		5,335
Total current liabilities		224,306		159,833
LONG-TERM LIABILITIES:
Convertible notes		86,250		86,250
Long-term debt and capital leases, net of current portion		51,864		918
Deferred tax and other long-term liabilities		24,728		14,093
Total long-term liabilities		162,842		101,261
MINORITY INTEREST		130		66,521
SHAREHOLDERS’ EQUITY:		90,301		87,679
Total liabilities, minority interest and shareholders’ equity	$	477,579	$	415,294

ASYST TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited; in thousands, except per share data)

	Three Months Ended						Nine Months Ended
	Dec. 31, 2006			Dec. 31, 2005			Dec. 31, 2006			Dec. 31, 2005
				(as restated)						(as restated)
NET SALES	$	126,135		$	106,824		$	365,765		$	348,870
COST OF SALES		88,019			64,848			252,082			229,736
Gross profit		38,116			41,976			113,683			119,134
OPERATING EXPENSES:
Research and development		7,690			6,342			25,679			20,562
Selling, general and administrative		21,831			21,296			63,669			62,747
Amortization of acquired intangible assets		5,912			3,494			14,461			13,126
Restructuring charges (credits)		—			(139	)		1,784			(46	)
Total operating expenses		35,433			30,993			105,593			96,389
Operating income		2,683			10,983			8,090			22,745
Other income (expense), net		(1,326	)		2,409			(2,200	)		939
Income before provision for income taxes and minority interest		1,357			13,392			5,890			23,684
PROVISION FOR INCOME TAXES		(1,569	)		(6,426	)		(7,661	)		(16,110	)
MINORITY INTEREST		(11	)		(4,178	)		(1,760	)		(10,115	)
NET INCOME (LOSS) PRIOR TO CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE		(223	)		2,788			(3,531	)		(2,541	)
Cumulative effect of change in accounting principle		—			—			103			—
NET INCOME (LOSS)	$	(223	)	$	2,788		$	(3,428	)	$	(2,541	)
Basic net income (loss) per share prior to cumulative effect of change in accounting principle	$	(0.00	)	$	0.06		$	(0.07	)	$	(0.05	)
Cumulative effect of change in accounting principle		—			—			0.00			—
BASIC NET INCOME (LOSS) PER SHARE	$	(0.00	)	$	0.06		$	(0.07	)	$	(0.05	)
DILUTED NET INCOME (LOSS) PER SHARE	$	(0.00	)	$	0.06		$	(0.07	)	$	(0.05	)
SHARES USED IN THE PER SHARE CALCULATION — BASIC		49,028			48,019			48,829			47,918
SHARES USED IN THE PER SHARE CALCULATION — DILUTED		49,028			48,789			48,829			47,918

ASYST TECHNOLOGIES, INC.
RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME (LOSS)
(Unaudited; in thousands, except per share data)

	Three Months Ended
	December 31, 2006
	GAAP			Adjustments			Non-GAAP
NET SALES	$	126,135		$	—		$	126,135
COST OF SALES		88,019			(326	)1		87,693
Gross profit		38,116			326			38,442
OPERATING EXPENSES:
Research and development		7,690			(344	)2		7,346
Selling, general and administrative		21,831			(1,816	)3		20,015
Amortization of acquired intangible assets		5,912			(5,912	)		—
Total operating expenses		35,433			(8,072	)		27,361
Operating income		2,683			8,398			11,081
Other expense, net		(1,326	)		—			(1,326	)
Income before provision for income taxes and minority interest		1,357			8,398			9,755
PROVISION FOR INCOME TAXES		(1,569	)		(2,177	)4		(3,746	)
MINORITY INTEREST		(11	)		—			(11	)
NET INCOME (LOSS)	$	(223	)	$	6,221		$	5,998
BASIC NET INCOME (LOSS) PER SHARE	$	(0.00	)	$	0.13		$	0.12
DILUTED NET INCOME (LOSS) PER SHARE	$	(0.00	)	$	0.12		$	0.12
SHARES USED IN THE PER SHARE CALCULATION — BASIC		49,028			49,028			49,028
SHARES USED IN THE PER SHARE CALCULATION — DILUTED		49,028			49,815			49,815

	Adjustments
1)	Stock-based compensation expense of $326
2)	Stock-based compensation expense of $344
3)	Stock-based compensation expense of $865; stock option investigation fees and expenses of $951
4)	Reversal of income tax benefit of $2,177 related to amortization of intangibles

ASYST TECHNOLOGIES, INC.
SUPPLEMENTAL FINANCIAL INFORMATION
(Unaudited; in thousands, except per share data)

	Three Months Ended Dec. 31, 2006
							Consolidated
	ATI			ASI			Under GAAP
SUPPLEMENTAL STATEMENTS OF OPERATIONS
NET SALES	$	48,288		$	77,847		$	126,135
COST OF SALES		29,399			58,620			88,019
Gross profit		18,889			19,227			38,116
OPERATING EXPENSES:
Research and development		5,384			2,306			7,690
Selling, general and administrative		15,049			6,782			21,831
Amortization of acquired intangible assets		183			5,729			5,912
Total operating expenses		20,616			14,817			35,433
Operating income (loss)		(1,727	)		4,410			2,683
Other income (expense), net		(1,441	)		115			(1,326	)
Income (loss) before provision for income taxes and minority interest		(3,168	)		4,525			1,357
PROVISION FOR INCOME TAXES		149			(1,718	)		(1,569	)
MINORITY INTEREST		(11	)		—			(11	)
NET INCOME (LOSS)	$	(3,030	)	$	2,807		$	(223	)
BASIC NET INCOME (LOSS) PER SHARE	$	(0.06	)	$	0.06		$	(0.00	)
DILUTED NET INCOME (LOSS) PER SHARE	$	(0.06	)	$	0.06		$	(0.00	)
SHARES USED IN THE PER SHARE CALCULATION — BASIC		49,028			49,028			49,028
SHARES USED IN THE PER SHARE CALCULATION — DILUTED		49,028			49,815			49,028