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Aehr Test Systems Reports Financial Results For First Quarter Fiscal 2014

Stocks in this article: AEHR

FREMONT, Calif., Sept. 26, 2013 (GLOBE NEWSWIRE) -- Aehr Test Systems (Nasdaq:AEHR), a worldwide supplier of semiconductor test and burn-in equipment, today announced financial results for the first quarter of fiscal 2014 ended August 31, 2013.

Total net sales were $3.8 million in the first quarter of fiscal 2014, compared with $3.3 million in the fourth quarter of fiscal 2013. The Company reported a net loss of $166,000, or $0.02 per diluted share, in the first quarter of fiscal 2014, compared to a net loss of $854,000, or $0.08 per diluted share for the fourth quarter of fiscal 2013.

Commenting on the results of the first quarter of fiscal 2014, Gayn Erickson, President and CEO of Aehr Test Systems said, "We are pleased to have exceeded our financial expectations for the quarter. Our revenue was nearly $500,000 greater than in the prior quarter. More importantly, we improved our bottom line by more than $650,000 to exceed cash break even for the quarter. A key factor that contributed to these results was the positive momentum we are achieving with our new Advanced Burn-in and Test System (ABTS™), particularly in the automotive market segment where we see continued demand for more information and entertainment in addition to mission critical applications in traditional, hybrid, and electric automobiles." 

Erickson continued, "The increasing demand that we are seeing for our products is reflected in our strong book-to-bill ratio for the quarter and our highest backlog in recent years. We continue to see strength in the automotive test and burn-in space. During the last few months, we announced orders for multiple ABTS systems as well as a follow-on MAX™ test and burn-in system. These orders included production orders from a leading manufacturer of advanced logic ICs for automotive, embedded processing, digital signal processing and analog applications for our new ABTS-P system. The ABTS-P system offers optional high voltage power supplies required for power control devices for the rapidly growing electric/hybrid automotive markets. We expect to begin shipments of the new ABTS-P system during the next few months.

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