Business
Aehr Reports Record Revenue for Fiscal 2022 Fourth Quarter and Full Year Driven by Demand for Semiconductor Wafer Test and Burn-in for Electric Vehicles
FREMONT, Calif., July 19, 2022 (GLOBE NEWSWIRE) -- Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and reliability qualification
About this update from Aehr Test Systems
[{"type":"text","content":"FREMONT, Calif., July 19, 2022 (GLOBE NEWSWIRE) -- Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and reliability qualification equipment, today announced financial results for its fiscal 2022 fourth quarter and full year ended May 31, 2022. Fiscal Fourth Quarter Financial Results: Net sales were $20.3 million, up 166% from $7.6 million in the fourth quarter of fiscal 2021.GAAP net income was $5.8 million, or $0.20 per diluted share, compared to GAAP net income of $567,000, or $0.02 per diluted share, in the fourth quarter of fiscal 2021.Non-GAAP net income was $6.5 million, or $0.23 per diluted share, which excludes the impact of stock-based compensation, compared to non-GAAP net income of $930,000, or $0.04 per diluted share, in the fourth quarter of fiscal 2021.Bookings were $4.4 million for the quarter ended May 31, 2022.Backlog as of May 31, 2022 was $11.1 million. Effective backlog, which includes all orders since the end of the fourth quarter, is over $25.5 million.Total cash and cash equivalents as of May 31, 2022 were $31.5 million, up from $4.6 million at May 31, 2021. Fiscal Year Financial Results: Net sales were $50.8 million, up 206% from $16.6 million in fiscal 2021.GAAP net income was $9.5 million, or $0.34 per diluted share, compared to a GAAP net loss of $2.0 million, or $0.09 per diluted share, in fiscal 2021.Non-GAAP net income was $11.7 million, or $0.42 per diluted share, compared to a non-GAAP net loss of $3.2 million, or $0.13 per diluted share, in fiscal 2021. An explanation of the use of non-GAAP financial measures and a reconciliation of Aehr’s non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying tables. Gayn Erickson, President and CEO of Aehr Test Systems, commented: “We are pleased to report very strong growth for fiscal 2022, with a record annual revenue of $50.8 million, and record bookings of $60.2 million. Importantly, we are seeing the significant leverage in our operating model to our bottom line, as evidenced by the strong profit for the fiscal year. “Our strong bookings and revenue growth in fiscal 2022 were driven by the demand for our wafer level test and burn-in solutions, particularly for wafer level stress and stabilization of silicon carbide devices for use directly in the electric vehicle mark...