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TheStreet Open House

Aehr Test Systems Reports Financial Results For Fourth Quarter Fiscal 2010

FREMONT, Calif., July 21, 2010 (GLOBE NEWSWIRE) -- Aehr Test Systems (Nasdaq:AEHR), a worldwide supplier of semiconductor test and burn-in equipment, today announced financial results for the fourth quarter and full fiscal year ended May 31, 2010.

Net sales were $3.6 million in the fourth quarter of fiscal 2010, compared with $1.2 million in the fourth quarter of fiscal 2009. Aehr Test reported a net loss of $0.8 million, or $0.09 per diluted share, in the fourth quarter of fiscal 2010. This compares to a net loss of $4.0 million, or $0.48 per diluted share, in the fourth quarter of fiscal 2009.

Commenting on the fourth quarter and full year results, Rhea Posedel, chairman and chief executive officer of Aehr Test Systems, said, "Although we faced significant challenges in fiscal 2010, we ended the year with improved operating performance that has the Company poised for growth. During the fourth quarter, net sales increased to $3.6 million, nearly three times higher than net sales in the fourth quarter of the prior year. This growth was driven by revenue recognition of the previously announced shipment of a FOX™-15 wafer-level burn-in and test system to Micronas, a leading supplier of automotive and industrial integrated circuits. Net sales also benefitted from shipments of FOX-1 WaferPak contactors to a leading flash memory manufacturer. Looking ahead, our sales efforts remain focused on potential new production accounts with our new Advanced Burn-in and Test System (ABTS™) and FOX products. With capital spending for semiconductor equipment improving, we believe that we are well positioned to increase our net sales in fiscal 2011 compared with the prior year."

Net sales were $11.7 million in fiscal 2010, compared with $21.4 million in fiscal 2009. Net loss for the year ended May 31, 2010 was $0.5 million, or $0.06 per share, compared with a net loss of $30.0 million, or $3.55 per diluted share, in the prior fiscal year.

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