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Aehr Test Systems Reports Financial Results For Fourth Quarter Fiscal 2013

Stocks in this article: AEHR

FREMONT, Calif., July 18, 2013 (GLOBE NEWSWIRE) -- Aehr Test Systems (Nasdaq:AEHR), a worldwide supplier of semiconductor test and burn-in equipment, today announced financial results for the fourth quarter and fiscal year ended May 31, 2013.

Total net sales were $3.3 million in the fourth quarter of fiscal 2013, flat with $3.3 million in the third quarter of fiscal 2013. Aehr Test reported a net loss of $0.9 million, or $0.08 per diluted share, in the fourth quarter of fiscal 2013. This compares to a net loss of $1.5 million, or $0.16 per diluted share, in the third quarter of fiscal 2013.

Net sales for fiscal year 2013 were $16.5 million, an increase of 6.2% compared with net sales of $15.5 million in fiscal 2012. Net loss for fiscal 2013 was $3.4 million, or $0.36 per diluted share, compared to a net loss of $3.4 million, or $0.38 per diluted share, in fiscal 2012. As of May 31, 2013, the Company's backlog was $9.1 million, compared with $7.3 million at May 31, 2012.

Commenting on the results of the fourth quarter of fiscal 2013, Gayn Erickson, President and CEO of Aehr Test Systems, said, "Sequentially our revenues were basically flat as we continued to experience the industry wide softness that has affected Aehr Test, along with other companies in the semiconductor test space, in the recent past. We were pleased however to have improved our bottom line quarter-over-quarter as a result of improved margins.

"We are continuing to make inroads in advancing our goal of growing our business with both new and existing customers. We are pleased to have announced in late May the first order for multiple production systems of our next generation FOX™ Semiconductor Test System from a leading manufacturer of flash memory devices," added Erickson. "This order is the first of what we believe will be multiple follow-on system orders as this customer ramps capacity worldwide. We currently expect to begin shipping our new FOX systems in the first half of calendar 2014. We are excited to see additional interest from several other customers who are looking at our new FOX products for production functional test, wafer level burn-in and process monitor applications. We believe our new FOX wafer level burn-in and whole wafer functional test products will open up significantly greater market opportunities for Aehr Test."

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