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Aehr Test Systems' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: AEHR

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 Executive Chairman, Rhea Posedel. Rhea?

Rhea J. Posedel

Thank you, Gary. Good afternoon, and welcome to our conference call for the second quarter of fiscal year 2012. Let me begin by saying I'm pleased to announce that on Tuesday, Gayn Erickson was appointed CEO of Aehr Test. I'm in excellent health and was planning to work until I was 70, but with the acquisition of Verigy by Advantest last year, Gayn became available. We are fortunate to have hired a senior executive with 23 years of semiconductor, test and general management experience. With Gayn's strong marketing and engineering background from a top-tier test company, we are confident that he will do an outstanding job and has the management skill set needed to take Aehr Test to the next level. I will remain with the company as Executive Chairman and will work with Gayn on strategic plans to grow the company.

Since Gayn just started this week, I will be giving today's conference call. Gayn will, however, say a few words at the conclusion of my talk.

On a positive note, net sales for the quarter were $3.9 million, 8% higher compared to the second quarter of fiscal 2011. We had several highlights that I'd like to bring to your attention. First, we are very pleased to report that our valuation ABTS-L56i burn-in system passed its qualification at a leading IDM. Most importantly, we expect to receive an order to record revenue for this evaluation system this quarter. This would be a major win for us because it's a production account, and we believe this customer could order significant number of ABTS-L56i systems over the long term. Their target application is for burn-in of high-power logic devices requiring individual temperature control per device.

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