Business
Aehr Test Systems Reports Second Quarter Fiscal 2021 Financial Results
FREMONT, Calif., Jan. 07, 2021 (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., Jan. 07, 2021 (GLOBE NEWSWIRE) -- Aehr Test Systems (NASDAQ: AEHR), a worldwide supplier of semiconductor test and reliability qualification equipment, today announced financial results for its second quarter of fiscal 2021 ended November 30, 2020. Fiscal Second Quarter Financial Results: Net sales were $1.7 million, compared to $6.9 million in the second quarter of fiscal 2020.GAAP net loss was $2.0 million, or $0.08 per diluted share, compared to GAAP net income of $251,000, or $0.01 per diluted share, in the second quarter of fiscal 2020.Non-GAAP net loss was $1.7 million, or $0.07 per diluted share, which excludes the impact of stock-based compensation, compared to non-GAAP net income of $456,000, or $0.02 per diluted share, in the second quarter of fiscal 2020.Backlog as of November 30, 2020 was $1.1 million. Fiscal First Six Months Financial Results: Net sales were $3.7 million, compared to $12.4 million in the first six months of fiscal 2020.GAAP net loss was $1.9 million, or $0.08 per diluted share, compared to a GAAP net loss of $162,000, or $0.01 per diluted share, in the first six months of fiscal 2020.Non-GAAP net loss was $3.7 million, or $0.16 per diluted share, which excludes the impact of stock-based compensation and non-cash net gain of $2.2 million and a tax benefit of $215,000 related to the closure of Aehr’s Japan subsidiary during the first quarter. This compared to non-GAAP net income of $242,000, or $0.01 per diluted share, in the first six months of fiscal 2020. 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. Fiscal First Six Months COVID-19 Related Business Impacts: Bookings and Revenue Negatively Impacted by COVID-19 – Bookings and revenues during the first six months of fiscal 2021 were negatively impacted due to several customer-specific production ramp delays and push outs due to COVID-19 related impacts. Aehr continues to be optimistic about generating significant bookings and revenue increases in the second half of the 2021 fiscal year compared to the first half.New Customer Evaluations and Orders Experienced Delays – While Aehr continues to engage in ongoing discussions with a large number of potential new customers, t...