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Aehr Test Systems Reports Financial Results For Second Quarter Fiscal 2014

Stocks in this article: AEHR

FREMONT, Calif., Jan. 9, 2014 (GLOBE NEWSWIRE) -- Aehr Test Systems (Nasdaq:AEHR), a worldwide supplier of semiconductor test and burn-in equipment, today announced financial results for the second quarter of fiscal 2014 ended November 30, 2013.

Net sales rose 31.9 % to $5.0 million in the second quarter of fiscal 2014, compared with $3.8 million in the first quarter of fiscal 2014. Aehr Test reported GAAP net income of $137,000, or $0.01 per diluted share, and non-GAAP net income of $384,000, or $0.03 per diluted share, in the second quarter of fiscal 2014. This compares to a GAAP net loss of $166,000, or $0.02 per diluted share, and a non-GAAP net loss of $23,000, or $0.00 per diluted share, in the first quarter of fiscal 2014.

Commenting on the results of the second quarter of fiscal 2014, Gayn Erickson, President and CEO of Aehr Test Systems, said, "We are pleased to have once again reported a sequential growth in revenues and our bottom line. Most importantly, we have returned the company to profitability in the quarter.

"We continue to see the automotive market drive production burn-in capacity," added Erickson. "We shipped the first of several systems on order for our new ABTS-P™ production test and burn-in system, which has approximately 70% more capacity than our previous generation systems used in automotive integrated circuit production. In addition, we received follow-on orders for our FOX-15™ wafer level test and burn-in system and WaferPak contactors for production burn-in of automotive ICs in wafer form. The automotive space continues to be strong for Aehr Test and we see new opportunities in both packaged part and wafer level test moving forward."

Erickson concluded, "We are happy to have achieved our return to profitability, and we continue to expect to be profitable for fiscal year 2014. We remain optimistic about the prospects for both our ABTS packaged part and FOX wafer level test systems, and we are excited about the planned roll out of our new products over the next several quarters."

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