Exhibit 99.1

AXCELIS ANNOUNCES FINANCIAL RESULTS FOR FOURTH QUARTER

AND FULL YEAR 2012

BEVERLY, Mass .—February 4, 2013— Axcelis Technologies, Inc. (Nasdaq: ACLS) today announced financial results for the fourth quarter and full year ended December 31, 2012. The Company reported fourth quarter revenue of $44.6 million, compared to $44.6 million for the third quarter of 2012. Net loss for the quarter was $14.8 million, or ($0.14) per share, which included: a $7.9 million gain from the sale of the Company’s dry-strip intellectual property and related assets to Lam Research Corporation in December 2012; a $13.4 million charge associated with an inventory write off; and $0.6 million of restructuring charges. This compares to a net loss for the third quarter of 2012 of $8.7 million. Cash and cash equivalents were $45.0 million at December 31, 2012, which included $8.7 million from the sale of assets to Lam Research.

For the full year 2012, the Company reported revenue of $203.4 million, compared with $319.4 million for full year 2011. Net loss for the year was $34.0 million or ($0.32) per share. This compares to net income for the full year 2011 of $5.1 million, or $0.05 per diluted share. The full year 2012 results reflect the $7.9 million gain on the sale of assets to Lam Research, the $13.4 million charge associated with an inventory write off, and $4.2 million of restructuring charges.

Commenting on the Company’s performance, Chairman and CEO Mary Puma said, “Conditions during the fourth quarter remained challenging, pressuring both systems and GSS revenues. Despite this, Axcelis generated cash from operations in the quarter, excluding the Lam transaction proceeds, and delivered financial operating results as expected. We are committed to managing through the cycle with solid fiscal and operational management. Our strong product portfolio and the opportunities from our collaborative relationship with Lam give Axcelis momentum entering 2013.”

Fourth Quarter and Full Year 2012 Conference Call

The Company will host a conference call today at 5:00 pm ET to discuss results for the fourth quarter and full year 2012. An audio webcast will be available on the Investor page of Axcelis’ website at www.axcelis.com, or by dialing 1.888.713.4205 (1.617.213.4862 outside North America). Participants calling into the conference call will be requested to provide the pass code 55840939. A webcast replay will be available on the Axcelis’ website for 30 days following the call.

Safe Harbor Statement

This press release and the announced conference call will contain forward-looking statements under the SEC safe harbor provisions. These statements, which include our guidance for future financial performance, are based on management’s current expectations and should be viewed with caution. They are subject to various risks and uncertainties, many of which are outside the control of the Company, including the timing of orders and shipments, the conversion of orders to revenue in any particular quarter, or at all, the continuing demand for semiconductor equipment, relative market growth, continuity of business relationships with and purchases by major customers, competitive pressure on sales and pricing, increases in material and other production costs that cannot be recouped in product pricing and global economic, political and financial conditions. These risks and other risk factors relating to Axcelis are described more fully in the most recent Form 10-K filed by Axcelis and in other documents filed from time to time with the Securities and Exchange Commission.

About Axcelis

Axcelis Technologies, Inc. (Nasdaq: ACLS) headquartered in Beverly, Massachusetts, provides innovative, high-productivity solutions for the semiconductor industry. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. For more information, please visit: www.axcelis.com.

Company Contacts

Financial Community:

Jay Zager
978.787.9408

Editorial/Media Community:

Maureen Hart
978.787.4266

Axcelis Technologies, Inc.

Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

	Three months ended December 31,						Twelve months ended December 31,
	2012			2011			2012			2011
Revenue
Product	$	38,212		$	52,037		$	174,309		$	287,324
Services	6,412			8,374			29,076			32,092
Total revenue	44,624			60,411			203,385			319,416
Cost of revenue
Product	38,902			31,408			123,593			181,241
Services	5,242			6,380			21,621			23,438
Total cost of revenue	44,144			37,788			145,214			204,679

Gross profit	480			22,623			58,171			114,737

Operating expenses
Research and development	8,402			12,140			40,401			47,176
Sales and marketing	7,604			6,524			25,889			29,255
General and administrative	5,943			5,245			26,554			31,174
Gain on sale of dry strip assets and intellectual property	(7,904		)	—			(7,904		)	—
Restructuring charges	558			—			4,169			—
Total operating expenses	14,603			23,909			89,109			107,605

Income (loss) from operations	(14,123		)	(1,286		)	(30,938		)	7,132

Other income (expense)
Interest income	18			18			45			42
Other, net	(496		)	342			(1,495		)	297
Total other income (expense)	(478		)	360			(1,450		)	339

Income (loss) before income taxes	(14,601		)	(926		)	(32,388		)	7,471

Income taxes	217			1,187			1,646			2,394

Net income (loss)	$	(14,818	)	$	(2,113	)	$	(34,034	)	$	5,077

Net income (loss) per share
Basic	$	(0.14	)	$	(0.02	)	$	(0.32	)	$	0.05
Diluted	$	(0.14	)	$	(0.02	)	$	(0.32	)	$	0.05

Shares used in computing net income (loss) per share
Basic	107,910			106,476			107,619			106,234
Diluted	107,910			106,476			107,619			109,098

Axcelis Technologies, Inc.

Consolidated Statements of Comprehensive Income

(In thousands)

(Unaudited)

	Three months ended December 31,						Twelve months ended December 31,
	2012			2011			2012			2011

Net income (loss)	$	(14,818	)	$	(2,113	)	$	(34,034	)	$	5,077
Other comprehensive income:
Foreign currency translation adjustments	950			(431		)	642			(1,465		)
Actuarial net (loss) gain from pension plan	(399		)	10			(399		)	10
Comprehensive income (loss)	$	(14,267	)	$	(2,534	)	$	(33,791	)	$	3,622

Axcelis Technologies, Inc.

Consolidated Balance Sheets

(In thousands)

(Unaudited)

	December 31, 2012			December 31, 2011
ASSETS
Current assets
Cash and cash equivalents	$	44,986		$	46,877
Accounts receivable, net	24,843			35,071
Inventories, net	100,234			120,023
Restricted cash	106			—
Prepaid expenses and other current assets	5,056			10,062
Total current assets	175,225			212,033
Property, plant and equipment, net	34,413			37,204
Long-term restricted cash	—			104
Other assets	12,520			19,904
Total assets	$	222,158		$	269,245

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	10,166		$	19,551
Accrued compensation	7,283			8,437
Warranty	1,700			3,556
Income taxes	278			495
Deferred revenue	6,423			10,786
Other current liabilities	3,932			4,647
Total current liabilities	29,782			47,472

Long-term deferred revenue	456			1,488
Other long-term liabilities	5,844			5,730
Total liabilities	36,082			54,690

Stockholders’ equity
Preferred stock	—			—
Common stock	108			107
Additional paid-in capital	504,643			499,332
Treasury stock	(1,218		)	(1,218		)
Accumulated deficit	(322,477		)	(288,443		)
Accumulated other comprehensive income	5,020			4,777
Total stockholders’ equity	186,076			214,555
Total liabilities and stockholders’ equity	$	222,158		$	269,245

Axcelis Technologies, Inc.

Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

	Twelve months ended
	December 31,
	2012			2011
Cash flows from operating activities
Net income (loss)	$	(34,034	)	$	5,077
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization	6,877			8,497
Gain on sale of dry strip assets and intellectual property	(7,904		)	—
Deferred taxes	834			585
Other	178			28
Stock-based compensation expense	3,976			4,687
Provision for excess inventory	14,492			1,015
Changes in operating assets and liabilities
Accounts receivable	10,478			22,692
Inventories	5,903			(11,870		)
Prepaid expenses and other current assets	4,386			3,049
Accounts payable and other current liabilities	(13,490		)	(17,940		)
Deferred revenue	(5,396		)	(4,006		)
Income taxes	(225		)	507
Other assets and liabilities	3,328			(8,788		)
Net cash (used for) provided by operating activities	(10,597		)	3,533

Cash flows from investing activities
Proceeds from sale of dry strip assets and intellectual property	8,716			—
Expenditures for property, plant, and equipment	(591		)	(2,124		)
(Increase) decrease in restricted cash	(2		)	3
Net cash provided by (used for) investing activities	8,123			(2,121		)

Cash flows from financing activities
Financing fees and other expenses	—			(200		)
Proceeds from exercise of stock options	968			288
Proceeds from Employee Stock Purchase Plan	331			503
Net cash provided by financing activities	1,299			591
Effect of exchange rate changes on cash	(716		)	(869		)
Net (decrease) increase in cash and cash equivalents	(1,891		)	1,134
Cash and cash equivalents at beginning of period	46,877			45,743
Cash and cash equivalents at end of period	$	44,986		$	46,877