Aehr Test Systems Stock Climbs After Better-Than-Expected Q1 Results: Here's Why

Aehr Test Systems  AEHR reported its first-quarter financial results after Thursday's closing bell. Here's a look at the details from the report. 

The Details: Aehr Test Systems reported quarterly earnings of 7 cents per share, which beat the analyst consensus estimate of 2 cents. Quarterly revenue of $13.12 million also beat the consensus estimate of $12.17 million, according to data from Benzinga Pro.

Bookings were $16.8 million for the quarter, and backlog was $16.6 million as of Aug. 30, 2024. The company ended the quarter with cash, cash equivalents and restricted cash of $40.8 million, reflecting $10.6 million in net cash paid during the quarter for the acquisition of Incal Technology, Inc.

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“We finished the first quarter with revenue and non-GAAP net income ahead of consensus estimates and are off to a good start to our fiscal year. Silicon carbide wafer level burn-in test systems and full wafer contactors are poised to be key contributors to revenue again this year,” commented Gayn Erickson, president and CEO of Aehr Test Systems.

“We are also forecasting material bookings and revenue contributions from several other markets this fiscal year, as we are successfully executing on our strategy to expand our test and burn-in products into other large and fast-growing markets such as artificial intelligence processors, gallium nitride power semiconductors, hard disk drive components and flash memory devices,” Erickson added.

Outlook: Aehr Test Systems reiterated its fiscal year guidance for total revenue of at least $70 million, versus the $71.2 million estimate, and net profit before taxes of at least 10% of revenue.

AEHR Price Action: According to Benzinga Pro, Aehr Test Systems shares are up 10.62% after-hours at $14.73 at the time of publication on Thursday.

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