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Aehr Test Systems' CEO Discusses Q4 2011 Results - Earnings Call Transcript

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

Rhea Posedel

Thank you, Gary. Good afternoon, and welcome to our conference call for the fourth quarter of fiscal 2011. Net sales for the fourth quarter of fiscal 2011 were $3.7 million, slightly higher than the fourth quarter of fiscal 2010, but down 12% on a sequential quarter basis compared to net sales of $4.2 million in the previous quarter. The net loss for the quarter was $144,000, an improvement from the prior quarter's net loss of $946,000.

During the fourth quarter, we benefited from an increase in ABTS system revenues. The balance of the shipments came mostly from FOX-1 WaferPak contactors and system upgrades for wafer sort testing at NOR Flash. These WaferPak shipments indicate to us that Spansion, a key customer and leading NOR flash producer, is achieving ongoing cost and throughput benefits with our FOX full wafer contact solution.

We had a number of additional highlights that I'd like to bring to your attention.

First, Spansion continues to invest in upgrading their FOX-1 full wafer parallel testers and buying WaferPak contactors for new and existing devices. During the fourth quarter, we announced booking over $2 million in orders for FOX-1 WaferPak contactors and services.

Second, we're pleased to report that Spansion has moved all of their FOX-1 testers from TI's facility in Aizu, Japan. About half were moved to their Fab 25 facility in Austin, Texas. Most importantly, a number of FOX-1 testers have been placed at a leading Taiwanese test subcontractor. Having FOX-1s in use at a leading wafer sort test subcon could potentially help us sell FOX-1s and WaferPak contactors to other Taiwanese IC producers.

Third, we are pleased to announce on June 2 that we sold our ownership in ESA, our distributor in Southeast Asia for nearly $1.4 million in cash.

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