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 22, 2007
                                                   -----------------


                           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
- --------------------------------------------------------
(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 22, 2007, Ibis Technology Corporation announced its financial
results for the fourth quarter and fiscal year ending December 31, 2006. 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 22, 2007.



                                   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 22, 2007               /s/William J. Schmidt
                                      ------------------------------------------
                                      William J. Schmidt Chief Financial Officer



                                  EXHIBIT INDEX
                                  -------------

Exhibit
Number          Description
- -------         -----------
99.1            Press Release, Dated February 22, 2007, Announcing Fourth
                Quarter and Fiscal Year 2006 Results.