8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

January 28, 2005

Date of Report (Date of Earliest Event Reported)

HELIX TECHNOLOGY CORPORATION
(Exact name of registrant as specified in its charter)

Delaware
(State or Other Jurisdiction of Incorporation)

0-6866	04-2423640
(Commission File Number)	(I.R.S. Employer Identification No.)
Mansfield Corporate Center
Nine Hampshire Street
Mansfield, Massachusetts	02048-9171
(Address of Principal Executive Offices)	(Zip Code)

(508) 337-5500
(Registrant's Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

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:

[ ] Written communications pursuant to 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))

HELIX TECHNOLOGY CORPORATION

Item 2.02.  Results of Operations and Financial Condition.

On January 28, 2005, Helix Technology Corporation (the "Company") announced via press release the Company's results for its fourth quarter and full year 2004.

A copy of the press release is furnished herewith as Exhibit 99. Exhibit 99 is furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01.  Financial Statements and Exhibits.

(c) Exhibits

99  Press Release issued by Helix Technology Corporation dated January 28, 2005

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.

Date:  January 28, 2005	By:  /s/ Jay Zager
	Jay Zager
	Senior Vice President, Chief
	Financial Officer and Treasurer

HELIX TECHNOLOGY CORPORATION

EXHIBIT INDEX

Exhibit
Number	Description of Exhibit
99	Fourth Quarter and Full Year 2004 Earnings Release dated January 28, 2005

EX-99

NEWS RELEASE

Contact:  Beverly L. Couturier
(508) 337-5111

HELIX TECHNOLOGY CORPORATION REPORTS
FOURTH QUARTER AND FULL YEAR 2004 RESULTS

MANSFIELD, MASSACHUSETTS, January 28, 2005... Helix Technology Corporation (Nasdaq: HELX) today announced financial results for both the fourth quarter and the full year 2004. Net income for the fourth quarter ended December 31, 2004, was $6.2 million, or $0.24 per diluted share, which includes a non-cash adjustment of $3.7 million to reverse a previously established valuation allowance against our net deferred taxes. Excluding this adjustment, net income for the fourth quarter was $2.5 million, or $0.10 per diluted share, compared with $0.8 million, or $0.03 per diluted share, for the fourth quarter of 2003. Sales for the fourth quarter of 2004 were $34.9 million, versus $31.7 million a year ago.

Net income for the twelve months ended December 31, 2004, was $23.0 million, or $0.88 per diluted share, compared with a net loss of $11.1 million, or $(0.43) per diluted share reported for 2003. Excluding the impact of the discrete non-cash deferred tax valuation adjustment for each of the respective years, net income was $19.3 million, or $0.74 per diluted share, for 2004, compared with a net loss of $2.5 million, or $(0.10) per diluted share, for 2003. Sales for 2004 were $159.7 million, compared with $105.9 million in 2003.

Helix President, James Gentilcore, said, "Our full year performance reflects the hard work of an organization committed to operational excellence and strong asset management throughout the business cycle. While the fourth quarter brought clearer evidence of an industry-wide slowdown, the Polycold Systems Inc. acquisition, on schedule to close on February 15, will have an immediate and positive impact on our revenue and earnings performance."

Helix Technology Corporation is a global leader in the development and application of innovative solutions in the field of vacuum technology. Our CTI-Cryogenics and Granville-Phillips product offerings provide a broad range of components and subsystems that are key to the manufacture of semiconductors, flat panel displays and data storage devices. In addition, our highly regarded Global Support activity provides critical ongoing operational support services to semiconductor device producers throughout the world.

This press release contains forward-looking statements, including statements regarding the future performance of the Company's business and the semiconductor capital equipment industry, which are subject to a number of important factors that may cause actual results to differ materially from those indicated. These factors include, among others; the successful integration of Polycold into the operations of Helix, market acceptance of and demand for the Company's products, the success of the Company's strategic initiatives, including its global support operations, the health of the global semiconductor capital equipment market and the timing and scope of any change in industry conditions, the Company's success in sustaining order bookings, and other risks contained in Exhibit 99.1 to the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this press release.

HELIX REPORTS RESULTS

CONSOLIDATED STATEMENTS OF OPERATIONS
	Fourth Quarter					Twelve Months
	(unaudited)					(unaudited)
(in thousands except per share amounts)	2004			2003			2004			2003
Net sales	$	34,921		$	31,732	$	159,674		$	105,883
Costs and expenses:
Cost of sales		21,177			19,870		95,849			69,836
Research and development		2,984			2,519		10,826			10,082
Selling, general, and administrative		9,539			8,338		35,623			31,280
		33,700			30,727		142,298			111,198
Operating income (loss)		1,221			1,005		17,376			(5,315	)
Joint venture income		1,279			421		3,508			1,181
Interest and other income		373			217		1,065			913
Income (loss) before taxes		2,873			1,643		21,949			(3,221	)
Income tax provision (benefit)		(3,317	)		850		(1,028	)		7,915
Net income (loss)	$	6,190		$	793	$	22,977		$	(11,136	)
Net income (loss) per weighted average share:
Basic	$	0.24		$	0.03	$	0.88		$	(0.43	)
Diluted	$	0.24		$	0.03	$	0.88		$	(0.43	)
Weighted average shares:
Basic		26,114			26,099		26,110			26,099
Diluted		26,167			26,181		26,187			26,099

SUMMARY BALANCE SHEETS
		(unaudited)	(audited)
(in thousands)		12/31/04	12/31/03
Assets
Cash, cash equivalents, and investments	$	76,336	$	67,387
Accounts receivable		24,100		21,033
Inventories		21,595		22,032
Other current assets		9,465		1,934
Fixed and other assets		35,489		33,604
Total Assets	$	166,985	$	145,990
Liabilities and Stockholders' Equity
Total liabilities	$	27,378	$	27,184
Stockholders' equity		139,607		118,806
Total Liabilities and Stockholders' Equity	$	166,985	$	145,990

The Company's annual report on Form 10-K
is available to any stockholder upon request.