Net sales were $9.9 million in the first six months of fiscal 2013 compared with $8.0 million in the first six months of fiscal 2012. Net loss for the six months ended November 30, 2012 was $1.1 million, or $0.12 per diluted share, compared with a net loss of $1.2 million, or $0.14 per diluted share, in the same period of the prior fiscal year. The Company's net income for the first six months of fiscal 2012 included a gain of $990,000 from the sale of its investment in ESA Electronics PTE Ltd.
Erickson concluded, "As mentioned last quarter, we began to see a slowdown in spending by some of our customers. While some customers have pushed out forecasts, others are pushing us to expedite development of new systems and new applications. We are therefore focusing our resources to take advantage of those opportunities, while continuing to maintain tight control on expenses. To that end, we have taken additional steps to lower overhead with a reduction in personnel in certain areas of our business where we are seeing lower demand. We have included one-time charges related to these restructuring costs in this quarter's financials and we expect to see lower costs related to these moves in our financials moving forward. We continue to be optimistic about Aehr Test's future and feel we are in a great position to benefit from the long term industry trends in test, burn-in, and Design For Test."
Management Conference Call
Management of Aehr Test will host a conference call and webcast today, January 9, 2013 at 5:00 p.m. Eastern (2:00 p.m. Pacific) to discuss the Company's second quarter fiscal 2013 operating results. The conference call will be accessible live via the internet at www.aehr.com . Please go to the website at least 15 minutes before start time to register, download and install any necessary audio software. A replay of the webcast will be available at www.aehr.com for 90 days.About Aehr Test Systems Headquartered in Fremont, California, Aehr Test Systems is a worldwide provider of test systems for burning-in and testing logic and memory integrated circuits and has an installed base of more than 2,500 systems worldwide. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets are driving additional test requirements, capacity needs and opportunities for Aehr Test products in package and wafer level test. Aehr Test has developed and introduced several innovative products, including the ABTS and FOX families of test and burn-in systems and the DiePak® carrier. The ABTS system is used in production and qualification testing of packaged parts for both low-power and high-power logic as well as all common types of memory devices. The FOX system is a full wafer contact test and burn-in system used for burn-in and functional test of complex devices, such as leading-edge memories, digital signal processors, microprocessors, microcontrollers and systems-on-a-chip. The DiePak carrier is a reusable, temporary package that enables IC manufacturers to perform cost-effective final test and burn-in of bare die. For more information, please visit the Company's website at www.aehr.com . Safe Harbor Statement This release contains forward-looking statements that involve risks and uncertainties relating to projections regarding revenues, net sales and customer demand and acceptance of Aehr Test's products. Actual results may vary from projected results. These risks and uncertainties include without limitation, world economic conditions, the state of the semiconductor equipment market, the Company's ability to maintain sufficient cash to support operations, 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 perform as described and the Company's ability to successfully market a wafer-level test and burn-in system. See Aehr Test's recent 10-K, 10-Q 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. The Company disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release.