Business
Aehr Test Systems Reports 93% Revenue Growth Year over Year in Third Quarter
Withdraws Previously Provided Fiscal 2020 Financial Guidance Due to COVID-19 Uncertainty FREMONT, Calif., April 02, 2020 (GLOBE NEWSWIRE) -- Aehr Test Systems
About this update from Aehr Test Systems
[{"type":"text","content":"Withdraws Previously Provided Fiscal 2020 Financial Guidance Due to COVID-19 Uncertainty\nFREMONT, Calif., April 02, 2020 (GLOBE NEWSWIRE) -- Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and reliability qualification equipment, today announced financial results for its third quarter of fiscal 2020 ended February 29, 2020.\n Fiscal Third Quarter Financial Results: Net sales were $6.1 million, up 93% from $3.2 million in the third quarter of fiscal 2019.GAAP net income was $245,000, or $0.01 per diluted share, compared to a GAAP net loss of $3.2 million, or $0.14 per diluted share, in the third quarter of fiscal 2019.Non-GAAP net income was $452,000, or $0.02 per diluted share, which excludes the impact of stock-based compensation expense, compared to a non-GAAP net loss of $1.6 million, or $0.07 per diluted share, in the third quarter of fiscal 2019, which excluded stocked based compensation expense, a $795,000 provision for excess and obsolescence inventory, and $607,000 for restructuring charges related to a reduction in work force.Backlog as of February 29, 2020 was $3.6 million. Fiscal First Nine Months Financial Results: Net sales were $18.5 million, up 34% from $13.8 million in the first nine months of fiscal 2019.GAAP net income was $83,000, or $0.00 per diluted share, compared to a GAAP net loss of $5.3 million, or $0.24 per diluted share, in the first nine months of fiscal 2019.Non-GAAP net income was $694,000, or $0.03 per diluted share, compared to a non-GAAP net loss of $3.2 million, or $0.15 per diluted share, in the first nine months of fiscal 2019. An explanation of the use of non-GAAP financial information and a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying tables. Aehr Third Quarter and Recent Business Highlights: Shipments for WaferPak™ Contactors and DiePak™ Carriers, consumables for Aehr’s FOX™ wafer and singulated die/module test and burn in systems, accounted for 51% of total revenue for the third quarter.Shipped and reported revenue for an additional FOX-XP multi-wafer test and burn-in system to meet the production ramp of a leading supplier of silicon photonics devices.Received orders totaling more than $2.9 million from its installed base of FOX test and burn-in system customers for...