Fremont, CA, May 20, 1997 -- Asyst Technologies, Inc. (Nasdaq: ASYT), today reported financial results for its 1997 fiscal fourth quarter and year ended March 31, 1997.

For the fiscal year ended March 31, 1997, Asyst reported that net sales increased 41 percent to $137.5 million compared to $97.5 million for the fiscal year ended March 31, 1996. The Company had net income from continuing operations for fiscal 1997 of $11.4 million or $2.17 per share, after deducting the write-off of $1.3 million or $0.25 per share associated with the Radiance acquisition in November 1996. This compared to net income from continuing operations of $7.6 million or $1.45 per share for fiscal 1996.

For the fiscal 1997 fourth quarter ended March 31, 1997, net sales were $34.9 million compared with net sales of $34.3 million for the fiscal 1996 fourth quarter ended March 31, 1996. The Company had net income from continuing operations of $2.8 million or $0.52 per share, compared to net income from continuing operations of $0.1 million or $0.01 per share for the fourth quarter last year.

Fiscal 1997 and fiscal 1996 financial results include the operations of Asyst Automation, Inc. (AAI), an Asyst subsidiary which the Company previously announced its intention to close. The impact of AAI’s operations is shown as "Discontinued Operations" in Asyst’s consolidated financial statements. The loss from discontinued operations, including the estimated closure costs of AAI, was $14.7 million in fiscal 1997. Combined with income from continuing operations, this resulted in a consolidated net loss for the Company of $3.3 million or a net loss of $0.62 per share for the year ended March 31, 1997. This compared to a loss of $2.4 million from discontinued operations in fiscal 1996, which combined with income from continuing operations resulted in consolidated net income of $5.2 million or $0.99 per share for the year ended March 31, 1996.

"We are especially pleased by our yearly revenue growth during a period of industry uncertainty," said Dr. Mihir Parikh, Asyst’s chairman and chief executive officer. "This was achieved through an increased rate of adoption of minienvironment and SMIF-based products in 200mm IC fabs. Our leadership in this market will better position Asyst within the emerging 300mm market as minienvironment and SMIF-type technologies are likely to be pervasive."

"During fiscal 1997 we broadened our customer base, winning new contracts with leading manufacturers in Asia, the U.S. and Europe. We continue to expand Asyst’s relationships with leading semiconductor equipment suppliers, and recently announced our 150th SMIF-integration design win with Nikon Corporation. Demand for our new Asyst SMIF-LPT™ (Load Port Transfer) systems continues to rise, as indicated by the multimillion-dollar orders placed in the fourth quarter by Taiwan Semiconductor Manufacturing Corporation, ProMos Semiconductor and others," Parikh added.

"Our subsidiary, Asyst Software, Inc. (ASI), is strategically positioned to complement Asyst’s minienvironment and SMIF products by offering software connectivity solutions. This has already resulted in an increasing rate of adoption of the SMART-Traveler™system at customers worldwide," Parikh concluded.

Doug McCutcheon, senior vice president and chief financial officer of Asyst, elaborated on the Company’s year-end results. "Our operational focus continues to produce solid gains. During fiscal 1997, we efficiently implemented systems and processes to accelerate manufacturing turnaround while minimizing costs. We are now beginning to see the benefits. In the fiscal fourth quarter we had an upturn in gross margin to 43 percent of net sales compared to 39 percent in the previous quarter. Our challenge is to build upon these operational improvements and to make further gains in fiscal 1998."

Asyst also announced today the promotion of Terry L. Moshier, Asyst’s executive vice president and chief operating officer, to the position of president and chief operating officer. Moshier, 48, has more than 25 years’ experience in the high-tech industry with companies such as Motorola and Texas Instruments. In addition to operational responsibility for Asyst’s manufacturing, product development, quality, customer service and other related areas, Moshier will continue to focus on operational excellence and customers’ satisfaction. "Our fiscal 1997 financial results demonstrate the focus and accountability to operational performance which Terry has brought to the Asyst organization," stated Parikh. "Terry’s proven leadership capabilities will guide the company to achieve its targeted goals of consistent, predictable growth."

Except for historical information, the matters discussed in this earnings release are forward-looking statements subject to certain risk and uncertainty factors that could cause the actual results to differ materially from those projected. These factors include semiconductor industry cycles, risks associated with the acceptance of new products and product capabilities, and other factors detailed in the Company's reports on Forms 10-K and 10-Q, and annual report to shareholders.

About Asyst
Asyst Technologies, Inc. is a leading provider of material handling systems that help semiconductor manufacturers improve their integrated circuit (IC) manufacturing productivity. The company's Asyst-SMIF™ System combines state-of-the-art minienvironments with advanced robotics to create ultraclean processing environments that are both comprehensive and flexible. The SMART-Traveler™ System (STS) works in tandem with SMIF to eliminate misprocessing. Both Asyst-SMIF and its companion STS products are integral to seamless factory automation. Asyst Software, Inc., is dedicated to the development of software products for equipment communications and automated material handling, identification and tracking. Founded in 1984, Asyst Technologies, Inc. is headquartered in Fremont, CA, with facilities in Europe and the Far East. Asyst Software is located in San Jose, CA Asyst Technologies' home page on the World Wide Web is located at: http://www.asyst.com

About SMIF
SMIF stands for Standard Mechanical InterFace, the material handling approach that enables wafer transfer to and from sealed SMIF environments without exposure to cleanroom ambient conditions. SEMI standards exist for 150- and 200mm wafer sizes and are now being defined for 300mm.

Condensed Consolidated Statements of Operations
Condensed Consolidated Balance Sheets

	Three months ended March 31				Twelve months ended March 31
	1997		1996		1997		1996
Net sales	$ 34,855		$ 34,260		$ 137,520		$ 97,549
Cost of sales	19,869		23,036		80,732		56,646
Gross margin	14,986		11,224		56,788		40,903
Operating expenses:
Research and development	2,453		2,593		8,629		6,902
Selling, general and administrative	8,264		8,431		28,914		22,691
In-process research and development of       acquired business	--		--		1,335		--
Total operating expenses	10,717		11,024		38,878		29,593
Operating income	4,269		200		17,910		11,310
Other income (expense), net	166		(68)		671		822
Income before income taxes	4,435		132		18,581		12,132
Provision for income taxes	1,600		71		7,173		4,489
Net income from continuing operations	2,835		61		11,408		7,643
Discontinued Operations:
Loss from operations of Asyst
Automation, Inc., net of applicable			5,300
income taxes	--		(2,747)		(6,092)		(2,403)
Loss on closure of Asyst Automation,
Inc., including provision of $1,095       for operating losses during phase-out       period, net of applicable income taxes	--		--		(8,573)		--
Net income (loss)	$ 2,835 ======		$ (2,686) =======		$ (3,257) =======		$ 5,240 ======
Weighted average common and common    share equivalents	5,403		5,211		5,256		5,268
Net income per share from    continuing operations	$ 0.52 ======		$ 0.01 ======		$ 2.17 ======		$ 1.45 ======
Net income (loss) per share	$ 0.52 =====		$ (0.54) ======		$ (0.62) ======		$ 0.99 ======

	March 31, 1997		March 31, 1996
ASSETS
Current assets:
Cash and short-term investments	$ 12,021		$ 14,019
Accounts receivable, net	35,259		30,248
Inventories	18,609		18,535
Prepaid expenses and other assets	12,626		7,946
Net current assets of discontinued operations	2,749		9,236
Total current assets	81,264		79,984
Property and equipment, net	10,363		9,407
Other assets	2,452		1,111
	$ 94,079 =======		$ 90,502 =======
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$ 13,392		$ 9,382
Accrued liabilities	10,205		4,897
Customer deposits	2,968		8,938
Income taxes payable	2,510		3,195
Total current liabilities	29,075		26,412
Shareholders’ equity:
Common stock	66,945		62,774
Retained earnings (accumulated deficit)	(1,941)		1,316
Total shareholders’ equity	65,004		64,090
	$ 94,079 =======		$ 90,502 =======

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