Fremont, CA, January 21, 1998 - Asyst Technologies, Inc. (Nasdaq:ASYT), the leading supplier of minienvironment and SMIF-based technology to the worldwide semiconductor industry, today reported financial results for its fiscal 1998 third quarter ended December 27, 1997.

Net sales for the third quarter were $42.3 million, compared to net sales of $36.4 million for the third quarter of fiscal 1997. Income from continuing operations was $5.2 million, or $0.41 per share (diluted), compared to income from continuing operations of $1.7 million, or $0.16 per share (diluted), for the third quarter of fiscal 1997. Net income for the third quarter was $3.4 million, or $0.26 per share (diluted), compared to a loss of $11.6 million, or ($1.11) per share (diluted), for the same quarter last year.

For the nine months ended December 27, 1997, the Company had net sales of $120.3 million, compared to net sales of $102.7 million for the nine months ended December 28, 1996. Income from continuing operations for the first nine months of fiscal 1998 was $12.9 million, or $1.08 per share (diluted), compared to income from continuing operations of $8.6 million, or $0.82 per share (diluted), for the first nine months of fiscal 1997. Net income for the first nine months of fiscal 1998 was $11.0 million, or $1.08 per share (diluted), compared to a loss of $6.1 million, or ($0.59) per share (diluted), for the same period last year.

Quarterly Highlights
Commenting on Asyst's second consecutive record quarter, Dr. Mihir Parikh, Asyst's chairman and chief executive officer, explained that multiple competitive wins from chipmakers, foundries and OEMs worldwide contributed significantly to the success in the third quarter. "We are most pleased with our results for the quarter," observed Parikh. "They demonstrate the successes our business strategies and operational programs continue to achieve, which have resulted in improved margins and asset management. This is evident as our sequential quarterly growth in income from continuing operations of approximately 20 percent was roughly four times the growth in revenues."

Highlighting the results of the third quarter, Doug McCutcheon, Asyst's senior vice president and chief financial officer, noted, "We continue to see improvement in our gross margin, now at 44.8 percent. Our revenue grew 16 percent year over year and 5 percent sequentially. Tightly managed operations, improving profit margins and improved asset management led to a cash increase from operations of $8 million. Our days sales in receivables are now down to 61 days, which we believe to be one of the best in the industry. Together with $45 million generated from the previously announced private placement and from stock option exercises, cash and cash equivalents at the end of the quarter was $76 million." McCutcheon continued, "This quarter, we made a final adjustment of $1.8 million to discontinued operations reserves related to the closure of the former Asyst Automation business."

Business Highlights
In the third quarter, Asyst reached its 200th SMIF-integrated OEM design win by providing a leading San Jose, CA-based deposition company with a SMIF I/O solution for a platform of chemical vapor deposition (CVD) systems. The milestone product, the Asyst SMIF-LPIT (Load Port Interface), will be integrated into a complete line of thin film application tools.

Another development in this period was a multi-year business agreement that Asyst entered into to provide SMIF load port capabilities for one of the world's largest equipment supplier's line of tools scheduled for installation at a new microprocessor fab in Dresden, Germany. Discussing the circumstances surrounding the order win, Parikh noted, "In this case, the supplier was required by the German fab to select a preferred solution. Their extensive evaluation resulted in a key European win for us." Parikh continued, "We're excited about playing a key role in this new fab project."

Except for statements of historical fact, the statements in this press release are forward-looking. 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, general economic conditions, semiconductor industry cycles, risks associated with the acceptance of new products and product capabilities, and other factors more fully detailed in the Company's most recent 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-TravelerT 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

Condensed Consolidated Statements of Operations
Condensed Consolidated Balance Sheets

	Three months ended				Nine months ended
	December 27,		December 28,		December 27,		December 28,
	1997		1996		1997		1996
Net sales	$ 42,310		$ 36,432		$120,308		$102,665
Cost of sales	23,374		22,396		67,276		60,863
Gross margin	18,936		14,036		53,032		41,802
Operating expenses:
Research and development	3,350		2,307		9,388		6,176
General, Selling & Administrative	8,541		7,215		25,595		20,650
In-process research and development of
acquired business business	0		1,335		0		1,335
Total operating expenses	11,891		10,857		34,983		28,161
Operating income	7,045		3,179		18,049		13,641
Other income, net	1,095		194		2,090		505
Income from continuing operations
before income taxes	8,140		3,373		20,139		14,146
Provision for income taxes	2,930		1,680		7,250		5,573
Income from continuing operations	5,210		1,693		12,889		8,573
Discontinued Operations:
Loss from operations of Asyst Automation, Inc.,
net of applicable income tax benefit	0		(4,763)		0		(6,092)
Loss on closure of Asyst Automation, Inc.,
net of applicable income tax benefit	(1,840)		(8,573)		(1,840)		(8,573)
Net income / (loss)	3,370		(11,643)		11,049		(6,092)
Weighted average of common and common
share equivalents used for the calculation of:
Basic earnings per share	11,925		10,368		11,129		10,189
Diluted earnings per share	12,853		10,519		11,882		10,413
Basic Earnings / (Loss) Per Share:
Income per share from continuing operations	$ 0.44		$ 0.16		$ 1.16		$ 0.84
Net income / (loss) per common share	$ 0.28		$ (1.12)		$ 0.99		$ (0.60)
Diluted Earnings / (Loss) Per Share:
Income per share from continuing operations	$ 0.41		$ 0.16		$ 1.08		$ 0.82
Net income / (loss) per common share	$ 0.26		$ (1.11)		$ 0.93		$ (0.59)

	December 27, 1997		March 31, 1997
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$ 43,149		$ 11,021
Short-term investments	32,869		1,000
Accounts receivable, net	28,559		35,259
Inventories	21,899		18,609
Prepaid expenses and other current assets	14,070		12,626
Net current assets of discontinued operations	0		2,749
Total current assets	140,546		81,264
Property and equipment, net	10,764		10,363
Other assets, net	2,087		2,452
	$ 153,397		$ 94,079
Liabilities and Shareholders' equity
Current liabilities:
Accounts payable	$ 8,996		$ 13,392
Accrued liabilities and other	14,838		10,205
Customer deposits	2,083		2,968
Net current liabilities of discontinued operations	743		0
Income taxes payable	3,847		2,510
Total current liabilities	30,507		29,075
Shareholders' equity:
Common stock	113,782		66,945
Retained earnings (accumulated deficit)	9,108		(1,941)
Total shareholders' equity	122,890		65,004
	$ 153,397		$ 94,079

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