UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                    Form 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  February 23, 2004
                                                   -----------------


                           Ibis Technology Corporation
                           ---------------------------
             (Exact name of registrant as specified in its charter)



       Massachusetts                     0-23150                  04-2987600
- ----------------------------          ------------           -------------------
(State or other jurisdiction          (Commission               (IRS Employer
      of incorporation)               File Number)           Identification No.)


32 Cherry Hill Drive, Danvers, Massachusetts       01923
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(Address of principal executive offices)         (Zip Code)


Registrant's telephone number, including area code:  (978) 777-4247
                                                     --------------


Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

     [ ]  Written communications  pursuant Rule 425 under the Securities Act (17
          CFR 230.425)

     [ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
          CFR 240.14a-12)

     [ ]  Pre-commencement  communications  pursuant to Rule 14d-2(b)  under the
          Exchange Act (17 CFR 240.14d-2(b))

     [ ]  Pre-commencement  communications  pursuant to Rule 13e-4(c)  under the
          Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On February  23, 2005,  Ibis  Technology  Corporation  announced  its  financial
results for the fourth quarter and fiscal year ending  December 31, 2004. A copy
of the press release is being  furnished as Exhibit 99.1 to this Current  Report
on Form 8-K.  This  information  shall not be deemed  "filed"  for  purposes  of
Section 18 of the  Securities  Exchange Act of 1934,  as amended (the  "Exchange
Act"),  or  incorporated  by reference in any filing under the Securities Act of
1933, as amended, or the Exchange Act, except as shall be expressly set forth by
specific reference in such a filing.



ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.

(a) Not applicable.

(b) Not applicable.

(c) Exhibits

        Exhibit 99.1.     Press Release issued by Ibis Technology Corporation on
                          February 23, 2005.

                                   SIGNATURES


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.



                                      IBIS TECHNOLOGY CORPORATION
                                      ---------------------------

Date:  February 23, 2005                      /s/William J. Schmidt
                                      ---------------------------------------
                                      William J. Schmidt Chief Financial Officer

                                  EXHIBIT INDEX

Exhibit
Number         Description
- -------        -----------

99.1           Press Release, Dated February 23, 2005, Announcing Fourth Quarter
               and Fiscal Year 2004 Results.