Aehr Test Systems (NASDAQ:AEHR) reported its second-quarter financial results after Monday's closing bell. Here's a look at the details from the report.
The Details: Aehr Test Systems reported quarterly earnings of 2 cents per share which missed the analyst consensus estimate of 4 cents. Quarterly revenue came in at $13.45 million which missed the analyst consensus estimate of $15.03 million and is a decrease from sales of $21.43 million from the same period last year.
Aehr reported bookings were $9.2 million for the quarter and the backlog as of Nov. 29, 2024 was $12.4 million. Effective backlog, including bookings since Nov. 29, 2024, is $26.6 million. Total cash, cash equivalents and restricted cash was $35.2 million at the end of the quarter, compared to $40.8 million at the end of the previous quarter.
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“We achieved significant progress on the key objectives we outlined at the start of the fiscal year, most notably expanding our product reach into additional large and fast-growing markets. Market diversification into artificial intelligence (AI) processors, gallium nitride power semiconductors, data storage devices, silicon photonics integrated circuits, and flash memory is driving new opportunities in terms of customers and revenue,” said Gayn Erickson, president and CEO of Aehr Test Systems.
Outlook: Aehr reiterated its previously provided guidance for fiscal 2024 total revenue of at least $70 million and net profit before taxes of at least 10% of revenue.
AEHR Price Action: According to data from Benzinga Pro, Aehr Test Systems shares are down 12% after hours at $14.07 Monday.
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