Aehr Test Systems (AEHR) Q2 2012 Earnings Call January 05, 2012 5:00 pm ET Executives Gary L. Larson - Chief Financial Officer, Principal Accounting Officer and Vice President of Finance Gayn Erickson - Rhea J. Posedel - Founder, Chairman and Chief Executive Officer Marilynn Meek - Analysts Geoffrey Scott Presentation Operator
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.
Second. Last month, we report -- announced selling a high-power ABTS burn-in system with individual device temperature control to one of the world's largest IC manufacturers. Their target application is for reliability testing and qualification of 2x nanometer technology, including mobile and tablet processors. This is another major win for our ABTS product family, and we hope to see follow-on orders after the delivery and acceptance of the first system.Third, we shipped 3 additional ABTS burn-in systems to a leading Japanese microcontroller producer, and we expect to receive a follow-on order from their Singapore production site this quarter. This customer is a production account for us, and we believe they will purchase higher quantities of systems as their capacity ramps in the second half of calendar 2012. Fourth, we designed and have shipped the first article of 4 new FOX-15 WaferPak cartridge designs to a leading automotive provider of magnetic sensors. This is important because we hope to see follow-on orders for production quantities of WaferPaks as their sensors are qualified by automobile manufacturers later this calendar year. Read the rest of this transcript for free on seekingalpha.com