Aehr Test Systems AEHR shares are trading lower in Tuesday's after-hours session following the release of the company's second-quarter earnings report.
What To Know: Aehr Test Systems reported quarterly earnings of 23 cents per share, beating analyst expectations of 19 cents, a 43.75% increase over earnings of 16 cents per share from the same period last year.
The company reported quarterly sales of $21.40 million which exceeded the analyst consensus estimate of $20.89 million, a 44.45% increase over sales of $14.81 million the same period last year.
Total cash and cash equivalents as of Nov. 30 were $50.5 million, compared to $51.0 million at Aug. 31.
Aehr Test Systems revised its expected full-year total revenue to be between $75 million and $85 million, representing growth of 15% to 30% year-over-year. GAAP net income is estimated to be between 20% and 25% of revenue.
The company also stated that full-year revenue will likely be impacted by an anticipated delay in the timing of new orders from current and new customers.
"We had another solid quarter with strong year-over-year growth in revenue and net income as we continue to see increased demand for our wafer level test and burn-in products. Revenue for the quarter was $21.4 million, an increase of 45% year over year, and we generated non-GAAP net income of $6.7 million, slightly over 31% net profit. For the first half of the fiscal year, we grew revenue 65% over the same period last year," said Gayn Erickson, president and CEO of Aehr Test Systems.
AEHR Price Action: Shares of Aehr Test Systems were down 18.5% at $18.21 in the after-hours session at the time of publication Tuesday, according to Benzinga Pro.
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