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
Date of Report (Date of earliest event reported): March 24, 2005
Commission file number 0-16088

CERAMICS PROCESS SYSTEMS CORPORATION
(Exact Name of Registrant as Specified in its Charter)

Delaware (State or Other Jurisdiction of Incorporation or Organization	04-2832409 (I.R.S Employer Identification No.)
111 South Worcester Street P.O. Box 338 Chartley MA (Address of principal executive offices)	02712-0338 (Zip Code)

(508) 222-0614
Registrants Telephone Number, including Area Code:

Item 7. Financial Statements and Exhibits.

(c) Exhibits.

EXHIBIT NUMBER	DESCRIPTION
99	Press released dated March 24, 2005 of Ceramics Process Systems Corporation announcing its financial results for the fiscal year ended December 25, 2004.

Item 9. Regulation FD Disclosure

On March 24, 2005, the Company issued a press release announcing its financial results for the fiscal year ended December 25, 2004. A copy of the press release is attached hereto as Exhibit 99 and is incorporated herein in its entirety by reference.

Limitation on Incorporation by Reference.
The information furnished in this Item 9 (which is being furnished under Item 12) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Cautionary Note Regarding Forward-Looking Statements.
Except for historical information contained in the press release attached as an exhibit hereto, the press release contains forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. Please refer to the cautionary note in the press release regarding these forward-looking statements.

SIGNATURE

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 thereunto duly authorized.

Ceramics Process Systems Corporation (Registrant)
Date: March 24, 2005	/s/ Grant C. Bennett Grant C. Bennett President and Treasurer (Principal Executive Officer)

EXHIBIT INDEX

EXHIBIT NUMBER	DESCRIPTION
99	Press released dated March 24, 2005 of Ceramics Process Systems Corporation announcing its financial results for the fiscal year ended December 25, 2004.

EX-99

FOR IMMEDIATE RELEASE

Ceramics Process Systems Corporation
Grant Bennett, President
111 South Worcester Street
Chartley, MA 02712
Telephone: (508) 222-0614 ext 18 Fax: (508) 222-0220
Web Site: www.alsic.com

CERAMICS PROCESS SYSTEMS ANNOUNCES 2004 RESULTS

Chartley, Massachusetts, March 24, 2005. Ceramics Process Systems Corporation (CPS) (OTC Bulletin Board: CPSX) today announced net income of $1 million or $0.08 per basic and diluted share, on revenue of $6.8 million for the fiscal year ended December 25, 2004. This compares with a net loss of $19 thousand, or ($0.00) per basic and diluted share, on revenue of $4.0 million for the year ended December 27, 2003.

Grant Bennett, President, said: "Revenue grew by 71% in 2004 as a result of significantly increased demand in our three primary market segments, flip-chip packaging, components for cellular basestations and components for motor controllers. We are very pleased that AlSiC is increasingly viewed by major OEMs as the thermal management material of choice for high reliability applications, particularly in the flip-chip packaging and motor controller segments. In 2004, in addition to experiencing increased demand for existing products, we achieved several new design wins in these segments at current and new customers."

"In 2004 CPS carefully managed costs, engaging our customers to work with us in determining underlying demand. By year-end 2004, we had entered into consigned inventory agreements with our major customers covering approximately 75% of our forecasted 2005 demand. These agreements allow us to more efficiently smooth production, which has a positive impact on our costs, but they also may result in greater quarter-to-quarter revenue volatility because CPS does not recognize revenue until customers pick our products from their warehouses. For example, in Q4 2004 customers picked products at a rate slightly higher than they forecast which may dampen Q1 2005 demand accordingly."

Looking forward, growth will come from new design wins in existing segments, which are increasing, as well as penetration of new market segments. We are aggressively pursuing both sources of growth. In 2004 we began marketing to and shipped prototype products ordered by customers in several new market segments including high-brightness LEDs, optoelectronics, semiconductor capital equipment, and certain defense applications. We believe our products meet real needs in all of these segments, we anticipate achieving design wins in these segments in 2005 which will lead to recurring production in future years, and we anticipate that these segments will generate significant growth for us over time."

"We believe that the broad underlying market trends towards higher speeds and higher densities are and will continue to create increased demand our for thermal management products in many segments of the microelectronics marketplace," said Bennett.

Employment at the Company grew in 2004, and at year-end 2004 employment was approximately 30% higher than year-end 2003. Management believes this increase in employment is needed to meet increased demand in 2005 although there is of course no guarantee that increased demand will materialize.

CPS develops, manufactures and markets advanced metal-matrix composites for housing and providing thermal management of high-density electronics. The Company`s products are primarily used in high-density integrated circuit packaging, cellular telephone basestations, and motor controller modules.

This release does contain forward-looking statements. Various factors could cause actual results to differ materially from those projected in such statements. These factors include, but are not limited to, a general economic or business downturn in 2005, or a downturn in the electronics industry.

CERAMICS PROCESS SYSTEMS
CORPORATION
(CPS) (OTC BULLETIN BOARD: CPSX)
Year Ended	25-Dec-04	28-Dec-03
Revenues	$6,842,818	$3,993,690
Net income (loss)	1,040,432	($19,029)
Basic and diluted loss per share	$0.08	($0.00)
Weighted average basic shares	12,293,209	12,293,209
Weighted average diluted shares	12,761,159	12,293,209
Quarter Ended:
Revenues	$1,956,345	$1,423,628
Net income	$549,439	151,305
Basic and diluted income per share	$0.04	$0.01
Weighted average basic shares	12,293,209	12,293,209
Weighted average diluted shares	12,881,293	12,410,236