This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Aehr Test Systems 1Q Profit Rises On One-time Gain

FREMONT, Calif. (AP) ¿ Aehr Test Systems, a maker of memory chip testing equipment, said Wednesday that its first-quarter profit rose 11 percent as it recorded a huge gain from the sale of a bankruptcy claim.

The one-time gain offset a steep drop in sales.

Aehr netted $3.3 million from selling part of a claim it held against its customer, flash memory drive-maker Spansion Inc. Spansion filed for Chapter 11 protection in March.

Fremont-based Aehr earned $961,000, or 11 cents per share, in the three months that ended Aug. 31. That is up from the $865,000, or 10 cents per share, it earned a year earlier.

The company's revenue fell 87 percent to $1.3 million from $9.7 million.

CEO Rhea Posedel said the company was suffering from weak capital spending trends in the semiconductor industry. It has cut costs to deal with the downturn.

Aehr shares fell 4 cents to $1.31 on Wednesday.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
AEHR $2.58 0.00%
AAPL $128.95 0.00%
FB $78.99 0.00%
GOOG $537.90 0.00%
TSLA $226.03 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs