Aehr Test Systems Reports Financial Results for First Quarter Fiscal 2011

Aehr Test Systems AEHR, a worldwide supplier of semiconductor test and burn-in equipment, today announced financial results for the first quarter ended August 31, 2010. Net sales were $2.2 million in the first quarter of fiscal 2011, compared with $1.3 million in the first quarter of fiscal 2010. Aehr Test reported a net loss of $1.5 million, or $0.17 per diluted share, in the first quarter of fiscal 2011. This compares to net income of $1.0 million, or $0.11 per diluted share, in the first quarter of fiscal 2010. Net income in the first quarter of fiscal 2010 included a pre-tax gain of approximately $3.3 million from the sale of a portion of the Company's Spansion U.S. bankruptcy claim. Commenting on the results of the first quarter of fiscal 2011, Rhea Posedel, chairman and chief executive officer of Aehr Test Systems, said, "We are seeing year-over-year improvements in our top line, with this quarter's net sales of $2.2 million up 71% compared to the first quarter of last year. Contributing to the increase in net sales were shipments of FOX(TM) products as well as the revenue recognition of the previously announced order of a MAX-4i Burn-in and Test System from a leading Japanese semiconductor manufacturer. Also during the quarter, we delivered our new Advanced Burn-in and Test System (ABTS(TM)), configured for burn-in and test of both low and high-power packaged integrated circuits, to ISE Labs, Inc., the largest semiconductor test engineering service provider in Silicon Valley. Having an ABTS system at a leading service provider like ISE Labs should increase our visibility and credibility with other potential customers for burn-in and test of high power ICs.