Shares of Aehr Test Systems (AEHR, Financials) plummeted 26.3% to $11.78 as of 12:55 p.m. ET on Jan. 14, 2025, after the company reported disappointing fiscal second-quarter results.
The supplier of semiconductor testing equipment reported $13.45 million in income, a 37.23% drop from the same quarter a year before and $1.58 million less than analyst estimates.
Comparatively to net income of $6.1 million, or $0.20 per share, the firm recorded a GAAP net loss of $1 million, or $(0.03) per share. Down from $6.7 million, or $0.23 per share, a year ago, net income came in at $0.7 million, or $0.02 per share, on a non-GAAP basis.
As of Nov. 29, 2024, the backlog was $12.4 million; bookings for the quarter came to $9.2 million. Including post-quarter bookings, the effective backlog came to $26.6 million. End of the first quarter total cash, cash equivalents, and restricted cash declined from $40.8 million to $35.2 million.
With fresh orders from AI processor and gallium nitride semiconductor consumers, CEO Gayn Erickson said the business is broadening the spectrum of market presence. But he pointed out that geopolitical concerns and competitive pressures slowed down development in the silicon carbide industry.
Aehr reaffirmed its fiscal 2025 projection despite the poor results: at least $70 million in income and a non-GAAP profit margin before taxes of 10% or higher. The business wants to become more visible in high-growth semiconductor industries including data storage systems, gallium nitride devices, and artificial intelligence computers.
This article first appeared on GuruFocus.免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。