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Aehr Test Systems Confirms Financial Guidance of Revenues Exceeding $50 Million for Fiscal Year Ending May 31, 2022 Ahead of Craig-Hallum Institutional Investor Conference
FREMONT, Calif., June 01, 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., June 01, 2022 (GLOBE NEWSWIRE) -- Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and reliability qualification equipment, today confirms its previously provided financial guidance ahead of hosting virtual meetings with investors today at the 19th Annual Craig-Hallum Institutional Investor Conference. For its fiscal year ended May 31, 2022, Aehr completed full year total revenue of greater than $50 million, with strong profit growth in line with its operating model. Aehr Test President and CEO Gayn Erickson commented, “We are pleased to have finished a strong year yesterday, with fiscal year 2022 total annual revenue of greater than $50 million, more than three times last year’s revenue, and healthy profitability. “We continue to be excited about the silicon carbide market for electric vehicles and its supporting infrastructure requirements such as charging stations, as well as gallium nitride that is used in both consumer applications and for photovoltaic and automotive applications. Last week Aehr participated in the U.S. Power Semiconductor Executive Summit, a gathering of power semiconductor professionals and thought leaders from around the globe that represent device purchasers such as electric vehicle and photovoltaic market leaders, silicon carbide and gallium nitride device companies, and manufacturing and infrastructure suppliers of silicon carbide and gallium nitride wide-bandgap semiconductors. Our invitation to attend this exclusive event was the result of visibility within the industry of the unique value proposition Aehr provides with its cost-effective and proven wafer level test and burn-in solution for silicon carbide wide-bandgap semiconductors. “As we look ahead to our fiscal 2023, we are very encouraged by the positive momentum we are seeing with current and prospective customers and anticipate multiple new customers will be ramping in our new fiscal year to meet the enormous needs of wide-bandgap semiconductors, particularly that of silicon carbide used in the electric vehicle market. This is in addition to the expected significant additional investment in additional capacity by our current lead customer for our silicon carbide wafer level burn-in solution. On our upcoming fiscal 2022 fourth quarter and full year conference call in mid-July, we will be providing ...