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Aehr Test Systems' CEO Discusses Q1 2012 Results - Earnings Call Transcript

These risks and uncertainties include, without limitation, world economic conditions, the state of the semiconductor equipment market, acceptance by customers of Aehr Test technologies, acceptance by customers of the systems shipped upon receipt of a purchase order, the ability of new products to meet customer needs or perform as described, the company's ability to maintain sufficient cash to support operations, the company's marketing of a 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 products in fiscal 2012.

We refer you to our most recent 10-K and other reports from time to time filed with the U.S. 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 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 our Chairman and CEO, Rhea Posedel. Rhea?

Rhea J. Posedel

Thank you, Gary. Good afternoon, and welcome to our conference call for the first quarter of fiscal 2012. I'm pleased to report that we got off to a good start in our first quarter of fiscal 2012, as reflected by our revenue growth on both a year-over-year and a sequential quarterly basis. Net sales for the first quarter were $4.1 million, 90% higher than the first quarter of fiscal 2011 and up 10% sequentially compared to net sales of $3.7 million in our prior quarter.

During the quarter, we benefited from revenue of approximately $2 million in FOX-1 WaferPak contactor system upgrades and services from a leading NOR flash producer. Importantly, we also saw an increase in ABTS system revenues as we continue to make inroads adding new customers.

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