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Aehr Test Systems F4Q 2010 (Qtr. End 06/30/2010) Earnings Call Transcript

Actual results may differ materially from projected results and should not be considered as an indication of future performance. These risks and uncertainties include, without limitation, world economic conditions, the state of the semiconductor equipment market, acceptance by customers of Aehr Test's technologies, acceptance by customers of the systems shipped upon receipt of a purchase order, the ability of new products to meet customer needs or performance described, the company's development, manufacture and marketing of commercially successful wafer-level test and burn-in system and the potential emergence of alternative technologies, each of which could adversely affect demand for Aehr Test's products in fiscal year 2011.

We refer you to our most recent 10-K and 10-Q reports and other reports from time to time filed with the US Securities and Exchange Commission for a more detailed description of the risks facing our business and factors that could cause actual results to differ materially from projected results.

The company disclaims any obligation to update any information contained in any forward-looking statements to reflect events or circumstances occurring after the date of this conference call.

Now I'd like to introduce you to our chairman and CEO, Rhea Posedel. Rhea?

Rhea Posedel

Thank you, Gary. Good afternoon and welcome to our conference call for the fourth quarter and fiscal year 2010. Net sales for the fourth quarter were $3.6 million, nearly three times greater than those of the same quarter of the prior year. With the full year results, net sales were $11.7 million, a decrease of approximately 45% compared to net sales of $21.4 million for fiscal year 2009.

Despite the lower net sales we were successful in reducing our net loss to less than $500,000 in fiscal 2010 which is a significant improvement from the prior year. Importantly, we ended the year on a stronger financial footing.

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