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):  May 2, 2007
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                           Ibis Technology Corporation
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             (Exact name of registrant as specified in its charter)



Massachusetts                       0-23150                  04-2987600
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(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
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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 May 2, 2007, Ibis Technology  Corporation announced its financial results for
the first  quarter  ending March 31, 2007. 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
                          May 2, 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
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Date:  May 2, 2007                   /s/William J. Schmidt
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                                      William J. Schmidt Chief Financial Officer










                                  EXHIBIT INDEX
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Exhibit
Number                Description
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99.1                  Press Release, Dated May 2, 2007, Announcing First Quarter
                      2007 Results.